Can Phase III Trials indicate shifts in M&A interest?

15/09/2026

At Sunstone, we invest in early-stage therapeutics with the aim of developing future and clinically relevant drug candidates for partnering with, or acquisition by, the pharmaceutical industry. The challenge is to triangulate potential patient benefit and development...

Europe’s biotech ecosystem is broken at the ends

07/07/2026

Europe’s biotech ecosystem is broken at the ends The middle holds. The ends are collapsing. Fresh startups and near-commercial firms are strained and cannot access capital in EU. Without more qualified early-stage funding now, there will be no mature EU biotech...

Is biotech venture capital investing more to return less?

12/02/2026

At Sunstone we continue to track risk-adjusted return multiples (adjusted for contingent payments) versus the total capital invested in private therapeutic companies prior to M&A exits. When looking at the median trends over the past 15 years, the inflection...

An update on M&A returns for biotech venture capital

28/01/2026

Back in in 2019 Sunstone started sharing studies of European venture capital funded successes – i.e. M&A transactions. In 2021 we started adding US M&A’s to the data and later the same year we evaluated to which extent an IPO impacted the observations made....

Biotech ecosystem contributors!

21/01/2026

Biotech ecosystem contributors! In our previous post, we discussed the importance of local investors and how, in a Danish context, they contribute to identifying and scaling local and regional therapeutic innovation. However, not all investors are born equal –...