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Human Health
Portfolio impact highlights 2025
Alongside routine portfolio monitoring, Forbion conducts an annual impact survey to capture the progress made by our portfolio companies in terms of science and innovation, and advances in drug development.
61 active portfolio companies in our Ventures funds III-VII and our Growth Opportunities Funds I-III have shared the relevant data on their scientific and clinical achievements in 2025.
Science & innovation
Our portfolio shows overall progress in comparison to the previous two years. As the number of portfolio companies increased, so did the number of drug programs, scientific publications and granted patents, amongst others. The total R&D expenses of the reporting companies exceeded EUR 1.6 Billion in 2025.
Forbion portfolio companies continued to contribute to medical science and innovation in 2025. Through their deep expertise and knowledge, protected by intellectual property, many of our companies are leaders in therapeutic areas and diseases.
Scientific publications, patents, grants and rewards received by Forbion portfolio companies in the reporting year, 2023-2025
Cumulative number of scientific publications, patents, grants and rewards by Forbion portfolio companies at the end of reporting year, 2023-2025
Source: Forbion Impact Survey Life Sciences 2025.
Total number of drug and clinical-stage programs and IND applications filed and approved by active portfolio companies, 2023-2025
Source: Forbion Impact Survey Life Sciences 2025.
Pre-clinical and clinical drug development overview
Through its investments, Forbion supports the development of new drugs from discovery stage to market approval, across a range of diseases and therapeutic areas. The responses to the Forbion 2025 Life Sciences Impact Survey, combined with public disclosures for the listed companies, show that our active portfolio companies had 153 drug programs across different development stages and therapeutic areas at the end of 2025.5
4. Data on drug programs in this chapter covers 66 portfolio companies; all listed companies were invited to provide data, however, not all responded. Drug program information for these companies was compiled from their public disclosures.
Therapeutic area
The majority of drug programs of Forbion’s active portfolio companies focus on oncology (33%), followed by autoimmune & inflammatory diseases (17%) and diseases of the central nervous system, or CNS (13%).
Drug programs and indications across therapeutic areas at the end of 2025
Contribution to the UN SDGs
By investing in groundbreaking science and supporting the growth of innovative companies, Forbion’s investments contribute to the United Nations’ Sustainable Development Goals (SDGs), in particular SDG 3, focusing on Good Health and Well-being.
5. The number of patients who completed a Clinical Trial is largely underestimated since it is often not monitored and not tracked by the public. Source: www.Clinicaltrials.gov
Clinical stage
At the end of 2025, 28% of drug programs and indications in development by Forbion’s portfolio companies were in Phase 2, followed by Discovery stage (23%). 54% of all drug programs were in the clinical stage. The majority of programs (or 89%) were developed internally, not in partnerships with pharma companies.
78% of drug programs developed by our portfolio companies follow the standard regulatory process. Among the programs with a different process, Orphan Drug Designation and Fast Track represent the largest groups. Most programs (83%) are disease modifying.
Drug programs and indications by portfolio companies segmented by development stage and partner involvement
Drug programs and indications of Forbion's portfolio companies according to regulatory designation and impact on disease
Data at the end of 2025.
Source: Forbion Impact Survey Life Sciences 2025.
Small biotech–pharma collaboration powers innovation
Much of today’s drug innovation emanates from small, agile biotech companies like those backed by Forbion. These early‑stage ventures drive breakthrough science, novel platforms, and high‑risk, high‑reward therapeutics. At a later point in time (e.g. after an acquisition or licensing deal) large pharmaceutical companies typically take these innovations through late‑stage development, regulatory approval, and global commercialization.
As a result, partnerships, licensing deals, and strategic investments between startups and big pharma are now essential to the biopharma ecosystem.
By the end of 2025, one‑third of Forbion’s active portfolio companies had collaborations with pharmaceutical partners, reporting a total of 46 partnerships. One of these partnerships was launched in 2025 between Boehringer Ingelheim and Tessellate Bio and focuses on developing first-in-class precision treatments for people with hard-to-treat cancers. Such alliances accelerate patient access to innovative treatments and create significant value for early investors and founders. Forbion plays a central role in enabling these connections, positioning portfolio companies as credible and attractive partners for leading industry players.