In November, the biopharma industry raised $5.65 billion in total financings. While down from $11.6 billion tracked by BioWorld in October, overall financings are tracking ahead of last year. Biopharma funding has maintained an average of $6.1 billion per month in 2023, surpassing the $5.07 billion monthly average throughout 2022.
Med-tech financings surpassed $1 billion again in November, with transactions totalling $1.02 billion for the month. Though a decline from the $1.23 billion raised in October, the value is up from September’s $645.75 million.
Biopharma grants have sustained the upward trajectory noted in August, ending October up nearly 75% compared to the corresponding period last year. In contrast, nonprofit deal value has continued its year-over-year decline, marked by a more than 90% decrease in value.
Clinical data disappointments and third-quarte results cast a shadow on the BioWorld Neurological Diseases Index, closing November with an 18.37% year-to-date decline. This marks a slight improvement from its low point in October, down 23.79%, in contrast to the previous year’s upward trend, which it concluded with an 18.24% increase.