The biopharma sector secured $13.84 billion in financings in March, marking a 38% decline from February’s $22.3 billion, yet a 27% increase from January’s $10.9 billion. In 2023, biopharma financings averaged $5.91 billion per month. March brought two biopharma IPOs, totaling $2.65 billion, driven by Galderma Group AG’s inaugural offering of more than $2 billion.

Top of FormMed-tech financings in March totaled $1.79 billion. Although a decline from February’s total, the cumulative value for the first three months of the year reached $6.02 billion, an increase from $4.69 billion during the same period the previous year.