U.K. biotech has recorded the strongest quarter for venture capital raised in five years, with companies attracting £2.05 billion (US$3.36 billion) in the second quarter (Q2) of 2026. While that figure is dominated by the £1.56 billion series B round raised by Google Deepmind’s AI drug discovery spin-off Isomorphic Labs Ltd, the remaining £498 million is a significant increase to the £279 million raised in Q2 of 2025.

Rinascera Therapeutics Inc. has secured enough initial funding to acquire two drugs for rare genetic skin diseases, despite stalled development with their previous owners. The company, whose name comes from the Latin root renasci – to be born again, was incubated by Olive Tree Capital, which led the seed round with participation from Civilization Ventures and Toba Capital.

Advancell Co. Ltd. has raised an oversubscribed $315 million series D round to accelerate its push to become a fully integrated global radiopharma developer, funding late-stage clinical development alongside isotope supply and manufacturing infrastructure.

Signs of recovery are emerging in the biotechnology investment sector, although investors across Asia say that capital is flowing selectively to companies that can demonstrate clinical differentiation, strong management teams and a clear path to commercialization.

There is no doubt that investment into women’s health is increasing. According to a new report by W Group, in 2025, $1.55 billion in disclosed equity was raised by 85 women’s health companies, across more than 30 countries. However, challenges remain.

Lyora Therapeutics Inc. has launched with seed funding and a focus on genetic medicines targeting the root cause of inherited retinal diseases. The company has acquired advanced preclinical assets, which it plans to optimize and advance to be delivered locally and remain durable for life.