Brandon Capital Partners Pty Ltd., Australia’s largest life sciences venture capital firm, announced the final close of its sixth fund at AU$439 million (US$288 million), the VC’s largest fund to date.

Radiopharma Clarity Pharmaceuticals Ltd. raised AU$203 million (US$132.22 million) in an institutional placement on Australia’s Securities Exchange to advance its late-stage pipeline of copper-based radiopharmaceuticals.

Thirty-six biotechnology, pharmaceutical and medical device companies sought a capital raise on the Hong Kong Stock Exchange in the first half (H1) of 2025, a review by BioWorld found. Of those, 34 companies were from mainland China.

Historically, Q2 has often been one of the strongest quarters for biopharma financing, but 2025’s figures suggest a more cautious investment climate. Biopharma companies raised $16.02 billion in the second quarter (Q2) of 2025, a modest increase from the $13.11 billion brought during Q1. While the uptick signals some recovery from Q1, the sector is still pacing well behind the highs of recent years.

Illimis Therapeutics Inc. raised ₩58 billion (US$42 million) in a series B financing round. The funds will support development of ILM-01, its lead bispecific fusion protein candidate, into preclinical development for Alzheimer’s disease by the second half of 2025, along with the company’s neuroimmunology portfolio.

Biopharma companies raised $7.38 billion across 99 transactions in June 2025, up from $5.55 billion in May and $2.4 billion in April. For the first half of the year (H1), total financings reached $28.74 billion, down 59% from the $70.32 billion raised during the same period in 2024. Although lower than the record-setting levels of 2020 and 2021, the current total aligns more closely with recent years, including $26.57 billion in the first half of 2022 and $30.57 billion in 2023.