Unlocking capital markets for the benefit of small- and mid-cap biopharmaceutical companies in the European Union

Why this roundtable matters

Small and mid-cap biopharmaceutical companies are driving some of the most cutting-edge medical breakthroughs in Europe, such as COVID-19 vaccines and cell & gene therapies. Yet, they face difficulties accessing dedicated funding and investment that support their development and scale-up, which has an impact on European innovation and competitiveness.

EU biopharmaceutical start-ups received only EUR 25 billion in venture capital for late-stage funding between 2015 and June 2025, compared to EUR 219 billion in the US, presenting a 9x funding gap. This disparity often forces European small- and mid-cap biopharma companies to seek capital abroad, relocate, or be acquired before commercialisation, resulting in a steady drain of intellectual property, skilled expertise, clinical trials, and economic value from the EU.

Valuable initiatives are being taken at the European level, such as the Biotech Act, Savings & Investments Union, and the Scaleup Fund. They are going in the right direction, but small and mid-cap biopharmaceutical companies are still facing funding challenges. Through this roundtable, we aim to bring together key stakeholders to discuss persistent challenges for small and mid-cap biopharmaceutical companies and identify practical solutions, leveraging ongoing EU legislative initiatives and exploring additional financing mechanisms.