On the new company creation front, using Series A financings as a proxy, start-ups have not escaped the challenging funding environment. Here we update trends in those first-time rounds for 2023.

Due to the unprecedented growth in the development of cell and gene therapies over the past decade, there is now high demand for certain workforce roles, especially in highly specialized areas and entry-level manufacturing positions.

Improvements in generating, purifying, and delivering RNA material, as well as addressing challenges with degradation by enzymes, have made the RNA class more attractive to drug developers.