Companies just looking to get their start in the biotech and life sciences field often have limited funds and lots of time ahead of them before they get to FDA approval. And as the biotech industry faces what could be a long bear market due to inflation and rising interest rates, the costs of business from research to manufacturing have increased significantly. Now more than ever funding can be hard to come by, especially for those just getting started.
In 2019, Fulton Bank launched a new division aimed at supporting life sciences companies that many financial institutions shied away from historically—young, emerging bioscience and tech companies that offer high risk, high reward investment profiles.
Late in 2019, Fulton Bank launched a brand-new division to support emerging Life Science and Technology companies. Many traditional banks have historically shied away from these types of companies, which often operate in pre-revenue business models that are more complicated to assess. However, if successful, these companies represent some of the greatest potential for growth and economic impact.