Biopharma firms collectively raised $70.97 billion in 2023, a welcome upturn of 17% from the $60.81 billion raised in 2022. Although falling short of the $118.29 billion raised in 2021 and $134.53 billion raised in 2020, by 40% and 47%, respectively, 2023 stands firmly in the third-highest place in BioWorld’s records going back to 2011.
The biopharma industry concluded 2023 on a positive note regarding financings, with an increase of 17% in value over last year. A total of $70.97 billion was raised from financings in 2023, up from $60.81 billion raised in 2022. Value is down, however, from $118.29 billion in 2021 and $134.53 billion in 2020, but is higher than all previous years tracked by BioWorld from 2011-2019.In December,$4.18 billion was raisedthrough 928transactions in December, down 27% from the $5.74 billion tracked by BioWorld in November.
Med-tech financings exceeded $1 billion for the third consecutive month, reaching a total of $1.07 billion in transactions in December. In November, med-techs raised $1.02 billion, with $1.23 billion raised in October. The overall average for financings in 2023 stands at $1.47 billion per month, down from a monthly average of $3.19 billion the previous year.
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