Swiss Biotech Report 2026

– Revenue reached a new high of CHF 7.5 billion in 2025 (2024: CHF 7.2 billion), driven by more companies with market-ready products and sustained growing demand for specialized CDMO services.
– Capital inflows increased by 2.1% to CHF 2.6 billion. At the same time, the focus shifted significantly towards investments in privately financed companies, which reached a record CHF 1.15 billion – an increase of 38% compared to 2024. Their share of the total financing volume rose to 45% – also a record high.
– Windward Bio (CHF 186 million) and GlycoEra (CHF 104 million) led private funding rounds.
– The Swiss biotech company BioVersys completed Europe's largest IPO; an increasing number of companies used collaborations for financing.
– Despite a slight decline in product approvals in the USA, Europe, and Switzerland, the number of approvals increased in other key markets, including China and Canada.
– Investments in research and development slightly decreased to CHF 2.5 billion, while employment reached a new high.
– Following Swiss Biotech Day, the EUREKA Global Innovation Summit 2026 will take place.

In 2025, the Swiss biotech industry developed very successfully. The Swiss Biotech Report 2026, jointly published by the Swiss Biotech Association, EY, and six partner organizations at Swiss Biotech Day in Basel, analyzes the financing and key figures of 2025. Under the theme ‘Talent and Tenacity,’ it explores how Swiss biotech attracts and develops talent, thereby strengthening its attractiveness as a collaboration partner and fostering international alliances.

With CHF 7.5 billion, total revenue in 2025 reached a new record, driven by more companies with market-ready products and a persistently strong growing demand for specialized CDMO services. 53% of all Swiss exports were attributable to the chemical-pharmaceutical and life sciences industries, with immunologics – including therapeutic proteins, cell therapies, and vaccines – reaching a record share of 20% (2024: 18%).

Investments in Swiss biotech companies amounted to CHF 2.6 billion. Private company financing increased by 38% to a record CHF 1.15 billion; their share of total financing volume was 45% in 2025. Switzerland’s globally oriented cooperation model contributed significantly to this growth: international investors remained important capital providers for Swiss biotech, and Swiss biotech companies also used international licensing and cooperation agreements to achieve additional product approvals and open new revenue streams. The number of employees in Swiss R&D biotech companies – both publicly listed and privately held – reached a new high of over 21,000.

Michael Altorfer, CEO of the Swiss Biotech Association, comments: “Last year's strong industry development underscores our commitment to fostering and developing talent as well as strengthening innovation and international collaboration. The majority of investments still come from abroad and grew by 20 percent in USD terms compared to the previous year – a remarkable achievement in the current economic and political environment.”

Frederik Schmachtenberg, Partner at EY and Global Life Sciences Lead for Financial Accounting Advisory Services, adds: “Despite a challenging capital market environment, Swiss biotech companies achieved record revenues of CHF 7.5 billion in 2025 and maintained high levels of R&D investments. The total financing volume reached CHF 2.6 billion, with a shift from publicly listed to privately financed companies. With CHF 1.15 billion, they raised more capital than ever before, 38 percent above the previous year. Their share of total financing volume increased to 45 percent – evidence of the strong investor base of privately financed companies.”

The key insights from the Swiss Biotech Report 2026

In 2025, the Swiss biotech industry achieved a new revenue record of CHF 7.5 billion (2024: CHF 7.2 billion), while R&D investments slightly declined to CHF 2.5 billion (2024: CHF 2.6 billion). Employment in Swiss R&D biotech companies reached a peak of over 21,000 full-time equivalents – driven by more companies with market-ready products and the increasing importance of Swiss CDMO.

In terms of financing, privately financed companies raised CHF 1.15 billion, a new high, representing a 38% increase over the previous year. In 2025, 45% of the total financing volume was attributable to private financings, compared to around 30% in previous years. Major funding rounds included Windward Bio (CHF 186 million), GlycoEra (CHF 104 million), Orbis Medicine (CHF 84 million), Nucidium (CHF 79 million), and Rhygaze (CHF 78 million).

For publicly listed companies, the market environment remained challenging. Nevertheless, BioVersys completed Europe's largest IPO at the beginning of 2025, raising USD 88 million (2024: USD 106 million through four European IPOs). Other publicly listed companies with significant follow-on financings included Moonlake (CHF 490 million), Oculis (CHF 274 million), Idorsia (CHF 216 million), and ADC Therapeutics (CHF 129 million).

Mergers, acquisitions, and collaborations increased. Notable transactions included the global licensing agreement between CDR-Life and Boehringer Ingelheim (up to USD 456 million), the global research and licensing option agreement between BioVersys and Shionogi (up to CHF 479 million plus license fees), and Windward Bio’s licensing agreement with Qyuns Therapeutics (up to USD 700 million).

The Swiss Biotech Report 2026 also analyzes the factors contributing to Switzerland’s broad and diverse talent pool and their influence on innovation and global competitiveness.

Global Village and Swiss Biotech Success Stories Awards for outstanding achievements

The Swiss Biotech Report 2026 was presented to over 3,500 guests at Swiss Biotech Day on May 4 and 5, 2026, in Basel. The conference for biotech executives is becoming increasingly international, supported by the Global Village, which expanded from 10 to over 30 international delegations from all continents over three years.

For its outstanding achievements, the Swiss Biotech Association awarded Patrick Aebischer the Swiss Biotech Success Stories Award 2026. As a leading neuroscientist and influential figure in Swiss biotech, his career spans research, institutional leadership, and entrepreneurship. During his presidency from 2000 to 2016, he transformed EPFL into a leading global research institution. He founded four biotech companies: CytoTherapeutics, Modex, Amazentis (Timeline), and Vandria. Currently, he serves on the boards of Nestlé and PolyPeptide and was previously a board member of Lonza and Logitech. He is also Managing Partner at Limani Partners and was a senior partner at ND Capital, as well as Chairman of the Novartis Venture Fund.