✉news BusinessStartups first seen 11 h ago, last 3 min ago, peak #5
Immunotherapy startup Adecto shuts down, blaming risk-averse funding
Original: Immmunotherapy startup Adecto blames ‘risk-adverse funding environment’ for closing down
Immunotherapy startup Adecto has announced it is closing down, citing what it calls a 'risk-adverse funding environment'. The biotech said investor caution has made it impossible to keep financing its work. The closure is being read as a sign of how hard it has become for early-stage biotech companies to raise money in the current climate.
Why now: Biotech funding has tightened, and Adecto's shutdown is a high-profile example of investors pulling back from risky early-stage drug development.
Evidence
- Immmunotherapy startup Adecto blames ‘risk-adverse funding environment’ for closing down · Fierce Biotech
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