Fierce Biotech August 23, 2024
Venture capital funding into biopharma rose to $9.2 billion across 215 deals in the second quarter of this year, reaching the highest funding level since the same quarter in 2022.
This compares to the $7.4 billion reported across 196 deals last quarter, according to PitchBook’s Q2 2024 biopharma report.
The funding boost may be explained by the industry adapting to prevailing federal interest rates and rejuvenated confidence in the sector, according to the financial data firm. However, part of the high figure is driven by mega-rounds in AI and obesity—such as Xaira’s $1 billion fundraise or the $290 million that Metsera launched with—where big VCs keep scoring and smaller firms are less successful.
While VC investment was up, exits were...
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