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๐Ÿ’Š Pharma Grows 7% YOY. $1.3B+ VC Funding.

Impact Capital Markets #121 looks at our Pharmaceutical Stock Index, major impact deals, M&A, and upcoming economic releases.

Hei ๐Ÿ”๏ธ

๐Ÿ“ˆ Today's Global Economic Update: Japan's inflation rate increased to 2.8% from 2.5% in April, propelled by a notable increase in electricity prices after the energy subsidies ended. The data comes as minutes from the Bank of Japan's June meeting highlighted concerns about potential inflationary overshooting.

๐Ÿ”ฌ Deal of the Day: BillionToOne, a precision diagnostics company, raised a $130M Series D to expand and scale its prenatal and oncology businesses.

What's New?

๐Ÿ’Š Pharmaceutical. Pharma grows 7% YOY
๐Ÿ’ฐ Funding. Precision diagnostics, e-grocery services, AI drug formulation + more
๐Ÿ’ผ M&A. Medical devices and solar solutions
๐Ÿ“… Economics. US GDP, Euro area inflation, balance of trade + more

๐Ÿ’Š Pharma Grows 7% YOY

HolonIQโ€™s Pharma Index has risen 7% over the past 12 months. Eli Lilly ($840B MCap) and Novo Nordisk ($488B MCap) have driven growth with their GLP-1 drugs for obesity treatment, reflecting a 90% and 82% YOY stock price growth, respectively. Strategic initiatives from pharmaceutical companies, such as Eli Lilly's direct-to-consumer website and Novo Nordisk's partnerships, are aiming to expand market reach. Combined sales of their diabetes and obesity drugs are projected to reach approximately $36.9B by 2024, with expectations of nearly doubling by 2028.

Despite challenges such as high R&D investments and revenue pressures from declining COVID-19 treatment sales affecting major players like Pfizer, Moderna, and Merck, the outlook for biotech and pharma stocks in 2024 remains optimistic. Anticipated advancements in AI-driven technologies are poised to revolutionize biotech, enhancing drug development efficiencies and clinical study designs, further bolstering growth prospects for the sector.

๐Ÿ’ฐ Funding

๐Ÿ›’ Zepto, an Indian e-grocery provider, raised a $665M Series F from Lightspeed Venture Partners and Avenir Growth Capital to expand its market reach.

๐Ÿ”ฌ BillionToOne, a California-based precision diagnostics company, raised a $130M Series D from Premji Invest to expand and scale its prenatal and oncology businesses.

๐Ÿ’Š METiS Pharmaceuticals, a Chinese AI-driven drug formulation company, raised a $100M Series C from CICC Capital to advance its AI-driven drug delivery and discovery platform.

๐Ÿฆพ Vecna Robotics, a Massachusetts-based robotics and technology company, raised a $100M Series C to fund new workflow-specific innovations

๐ŸŽฅ HeyGen, a California-based AI video generation platform, raised a $60M Series A from Benchmark to scale its operations.

๐Ÿ›๏ธ Daydream, a California-based AI-powered search and discovery shopping platform, raised a $50M Seed from Forerunner Ventures and Index Ventures to further enhance shopping with their fashion search engine.

๐Ÿ›ก๏ธ Amplify Life Insurance, a California-based digital insurance platform, raised a $20M Series B from Crosslink Capital and Anthemis to launch a suite of proprietary products.

๐Ÿ’ผ M&A

๐Ÿ”ฌ Boston Scientific Corporation, a Massachusetts-based medical technology company, acquired Silk Road Medical, a California-based medical device company.

โ˜€๏ธ Nextracker, a California-based Intelligent solar solutions provider, acquired Ojjo, a California-based energy company.

๐Ÿ“… Economic Calendar

US GDP, Euro Area Inflation, Balance of Trade + More

Monday, June 24th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia Westpac Consumer Confidence Change, June

Tuesday, June 25th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada Inflation Data, May

Wednesday, June 26th 2024

๐Ÿ‡ฉ๐Ÿ‡ช Germany GfK Consumer Confidence, July 

Thursday, June 27th 2024

๐Ÿ‡บ๐Ÿ‡ธ US Durable Goods Orders, May
๐Ÿ‡บ๐Ÿ‡ธ US GDP Growth Data, Q1

Friday, June 28th 2024

๐Ÿ‡ซ๐Ÿ‡ท France Inflation Data (Preliminary), June
๐Ÿ‡ฎ๐Ÿ‡น Italy Inflation Data (Preliminary), June
๐Ÿ‡บ๐Ÿ‡ธ US Core PCE Price Index, May
๐Ÿ‡บ๐Ÿ‡ธ US Personal Income & Spending Data, May

Monday, July 1st 2024

๐Ÿ‡ฏ๐Ÿ‡ต Japan Consumer Confidence, June
๐Ÿ‡ฉ๐Ÿ‡ช Germany Inflation Data (Preliminary), June
๐Ÿ‡บ๐Ÿ‡ธ US ISM Manufacturing PMI, June

Tuesday, July 2nd 2024

๐Ÿ‡ช๐Ÿ‡ฆ Euro Area Inflation Data, June
๐Ÿ‡บ๐Ÿ‡ธ US JOLTs Job Openings, May

Wednesday, July 3rd 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada Balance of Trade, May
๐Ÿ‡บ๐Ÿ‡ธ US ISM Services PMI, June
๐Ÿ‡ฆ๐Ÿ‡บ Australia Balance of Trade, May

Friday, July 5th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada Unemployment Data, June
๐Ÿ‡บ๐Ÿ‡ธ US Employment Data, June
๐Ÿ‡จ๐Ÿ‡ฆ Canada Ivey PMI s.a, June

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