✉news BusinessStartups first seen 13 h ago, last 11 h ago, peak #16
Immunotherapy startup Adecto shuts down, blaming funding climate
Original: Immunotherapy startup Adecto blames ‘risk-averse funding environment’ for closing down
Adecto, an immunotherapy startup, has closed down and is attributing its collapse to what it calls a risk-averse funding environment. The company's closure adds to a string of biotech shutdowns as investors pull back from early-stage drug development, and it is drawing attention to how difficult conditions have become for clinical-stage startups seeking capital.
Why now: It highlights ongoing concerns that tight biotech funding is forcing early-stage companies to shut down.
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Evidence
- Immunotherapy startup Adecto blames ‘risk-averse funding environment’ for closing down · Fierce Biotech
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