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Jeito Capital has closed its second dedicated biopharma fund, Jeito II, on a record US$1.2 billion (€1 billion), making it the largest fund ever raised by a fully independent European biopharma-focused private equity firm. The move firmly places Jeito among the leading global backers of clinical stage innovation.
UK biotech Mestag Therapeutics has raised $40 million and appointed veteran drug developers Lindsey Rolfe as chief medical officer and Pascal Merchiers as chief development officer, as the company prepares to start its first clinical trial in cancer in mid-2026. The new financing brings total capital committed to the Cambridge-based company to more than $95 million, following its $11 million launch round in April 2021 and a seed extension that took total seed financing to $45 million in August 2021.
French AI biotech Owkin has spun out its diagnostics division as a new company, Waiv, raising $33 million in financing led by OTB Ventures and Alpha Intelligence Capital to scale AI-powered precision testing.
Takeover in Wuppertal: Aicuris Anti-Infective Cures AG, which specializes in active ingredients for infectious diseases, is being acquired by Japanese pharmaceutical company Asahi Kasei for almost €800 million (around US$920 million). The company, founded by former Bayer employees Helga Rübsamen-Schaeff and Holger Zimmermann using substances from Bayer, had obtained its own approval and is currently in late-stage clinical development with active ingredients that are currently being presented with positive data at scientific conferences.
As a co-investor in the USD 25 million Series B round, Beiersdorf AG is signalling that artificial intelligence is becoming strategically important for skin research. The Hamburg-based group is participating through its venture unit in the AI biotech Turbine, founded in Budapest and now also headquartered in London.
Forbion has led a $75 million investment in Altesa BioSciences, positioning the biotech to run a phase IIb trial in chronic obstructive pulmonary disease (COPD) patients in the second quarter.
UK biotech is heading into 2026 with a growing sense of momentum, even as the sector continues to navigate one of the most selective investment climates in years.
This year, BIO-Europe, Europe’s leading partnering event for the entire biotech ecosystem, will take place in Vienna. From 3 to 5 November, the industry’s most important decision-makers will meet here to negotiate partnerships, contracts and financing, and to learn about the latest developments and trends. With over 5,700 participants from 60 countries, 2025 is set to see a record number of delegates, sponsors, exhibitors and presenting companies.
Following its US$361 m Series C financing, Tubulis AG presented first Phase I/IIa data on its lead ADC, TUB-040, at ESMO 2025 in Berlin. The study focuseds on patients with platinum-resistant ovarian cancer (PROC). TUB-040 shows clear differentiation potential
Switzerland is a key hub for biomanufacturing, with immunological products like antibodies
and vaccines making up 18.5% of 2024 exports. Swiss companies drive biotech innovation and biocatalysis
across sectors globally, extending the traditional focus on pharmaceuticals to fine chemicals, fragrances
and food tech. The development is supported by national collaborations and international coalitions.