Cell And Gene Therapy Field Gains Momentum

Following a landmark close to 2023, the cell and gene therapy field has maintained its impressive momentum into the first quarter of 2024, marked by several significant approvals and robust growth across all stages of clinical development. Notably, the field achieved the approval of three new therapies: a CAR-T therapy for myeloma in China, an AAV gene therapy for hemophilia B in Canada, and an autologous cell therapy for melanoma in the United States.

The pipeline of innovation is thriving, with over 4,000 gene, cell, and RNA therapies currently in development. We have observed substantial increases in the number of therapies in all three phases of clinical development, with Phase 1 programs experiencing notable growth of 11%.

While overall dealmaking rebounded with a 34% increase in transactions, the start-up financing landscape continues to face challenges. Both the number and total value of seed and Series A funding rounds declined in Q1.

Nevertheless, the broad progress across approvals, clinical development, and the ecosystem highlights the ongoing advancements, promise, and vitality of cell and gene therapy. The field's dynamic growth trajectory underscores its potential to revolutionize medicine and bring innovative treatments to patients worldwide.