million in April 2025, and later a follow-on Financing for an additional requirements into the second half of 2027. In September 2025, INTEGRA Biosciences Group acquired a minority In summary, while 2025 was a difficult year in terms of capital markets, and some companies also had to initiate restructuring CleanNA's global reach. Further, in December 2025 Relief Therapeutics measures, many companies were able to navigate the difficult Therapeutics, a SIX publicly listed company, focused on Al-driven or product approval milestones in 2025. Particularly interesting in with digital neurotherapeutics to treat neurological disorders. significant markets (e.g., China). Also, while for private biotech companies total capital investments in 2025 reached a new record, it should be noted that, as in 2024, only relatively few companies benefited, with many companies having received little or no funding in 2025. This is also evidenced by the fact that the total Financing of private biotech companies, compared to 2024. In addition to, or one could say as a result of, capital markets being more difficult to access for many companies, Swiss biotech of Financing (licensing, R&D collaborations, but also monetization ofassets transactions) which, in a similarway to 2024, provided At the same time, similar to 2024, entering into new collaboration companies, and even increased in terms ofthe deals entered into compared to 2024, with some ofthose partnerships containing significant financial components, which - as mentioned above- financings, which continued to be more difficult to obtain in 2025). monogenic IL-18 driven hyperinflammatory syndrome, a rare and candidates, with BioVersys to receive upfront and near-term research payments ofCHF 5 million and, upon exercise ofthe license option, regulatory and sales milestones ofup to CHF 479
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