BioPharma Dive June 6, 2024
Venture investment into U.S. biotechs is back at pre-COVID levels. But firms seem more selective in the companies they favor, and some are looking toward M&A rather than IPOs for an exit.
After a turbulent few years, 2024 has given the biotechnology industry some signs of a return to normalcy.
For one, venture investment appears to have stabilized at levels seen prior to a pandemic-era spike. Data presented by the Biotechnology Innovation Organization at the group’s annual meeting this week in San Diego showed private drug companies in the U.S. raised $3.8 billion during the first quarter.
Annualized, that pace would match the $15 billion venture firms invested in U.S. biotechs last year. Venture funding totaled $13 billion in 2018...
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