Since the original version of this article was published in 2023, the market has continued to be tight for biotech investment. New companies continue to form and get funding, but overall, investors are reducing risk with an increasing preference for companies with clinical data – or at a minimum validation in animal studies – before follow-on investments are attractive. 

RA Capital’s TechAtlas team is currently accepting summer internship applications for 2023. Three of last year’s interns - Drew Biedermann, Ross Chikarmane, and Gabe Fox - are now permanent members of the TechAtlas team. Read their perspectives on their internship experience.