Biopharma companies secured $16.31 billion in financing during the third quarter (Q3) of 2024, marking a 29% decrease from the $23.07 billion raised in Q2 and a 65% drop from Q1’s $47.25 billion. Despite the quarterly decline, year-to-date financings through September reached $86.63 billion, surpassing the total annual figures of both 2023 ($70.97 billion) and 2022 ($60.81 billion). Only the record-setting years of 2020 and 2021 saw higher amounts raised.
Kurma Partners has announced the first closing of its Biofund IV at €140 million (US$154.5 million) and is pressing ahead to a final close of €250 million this time next year. The fund will make 16 to 20 investments, with half the money due to be invested in novel science that Kurma teases out of academic labs and the remainder in established VC-funded companies. The Paris-based firm is agnostic about which fields or disease areas it invests in and will prospect for breakthrough research anywhere in Europe.
Kurma Partners has announced the first closing of its Biofund IV at €140 million (US$154.5 million) and is pressing ahead to a final close of €250 million this time next year. The fund will make 16 to 20 investments, with half the money due to be invested in novel science that Kurma teases out of academic labs and the remainder in established VC-funded companies. The Paris-based firm is agnostic about which fields or disease areas it invests in and will prospect for breakthrough research anywhere in Europe.
One of Australia’s newest biotech investment funds is set to triple investments on the back of its success and strong investor demand. The three-year old Merchant Biotech Fund (MBF) invested in several high growth ASX-listed and private life sciences companies and finished the past financial year up more than 70%. It is up 10% for the current financial year, Portfolio Manager Reece O'Connell told BioWorld.
Spanish VC firm Asabys Partners has closed its second fund at €180 million (US$201.3 million), to be invested in seed to series B rounds in 12 to 15 biotech, med-tech and digital health companies.
Spanish VC firm Asabys Partners has closed its second fund at €180 million (US$201.3 million), to be invested in seed to series B rounds in 12 to 15 biotech, med-tech and digital health companies.
One of Australia’s newest biotech investment funds is set to triple investments on the back of its success and strong investor demand. The three-year old Merchant Biotech Fund (MBF) invested in several high growth ASX-listed and private life sciences companies and finished the past financial year up more than 70%. It is up 10% for the current financial year, Portfolio Manager Reece O'Connell told BioWorld.
European biopharmas saw a huge surge in new funding in the second quarter of 2024, raising a collective $4.1 billion, compared to $1.9 billion in the same period of 2023. With the IPO market in Europe still virtually non-existent, $1.45 billion of this was venture capital, while $2.64 billion was raised in follow-on funding. The majority of VC funding was raised by companies in five countries, with $799.6 million raised in the U.K., $272.5 million in Switzerland, $201.8 million raised in Germany, $59 million in France and $25.7 million in Sweden.
Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion.
Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion. Biopharma financings in the first half of 2024 reached $70.19 billion, marking a 130% increase over the first half of 2023. Only the first half of 2021, which saw $71.58 billion raised, has been higher.
