The 2025 AseBio Report shows a Spanish biotech ecosystem that is not only expanding, but attracting capital at a new scale: Spain counted 1,119 dedicated biotech companies in 2025, up 10.4% year on year, while 39 new biotech firms were created in 2025.
European biotech enters 2026 in a strange, almost contradictory mood. The easy-money years are gone, the post-pandemic correction has done its damage, and investors are no longer rewarding science for being exciting alone. Yet the sector is far from frozen. If anything, 2025 showed that European biotech capital has become more selective, more concentrated and, in many ways, more sophisticated.