Biotech founders are currently navigating a tough fundraising landscape compared to the flourishing years of 2019-2021, as investor focus has shifted towards AI. Leaders in the field, such as Denali Therapeutics CEO Ryan Watts and Eris Biotech CEO Evita Weagel, emphasize the need for increased effort to attract capital amidst high interest rates and reduced availability of small investments. While government support has dwindled, success stories are emerging from innovative funding strategies, such as engaging unexpected investors from diverse backgrounds. Community initiatives, like the Altitude Lab in Salt Lake City, are fostering a collaborative environment for founders to thrive together. Despite present challenges, there is optimism that the market will improve as scientific advancements continue.
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Link to original article source: https://www.biospace.com/business/founders-face-pressure-from-all-sides-as-biotech-crawls-toward-recovery
