Biopharma financings from January through September 2025 totaled $47.1 billion, a sharp decline from 2024’s $86.7 billion during the same period and well below the highs of 2020 and 2021. The slowdown was driven largely by weaker follow-on activity, which brought in $12.9 billion compared to more than $40 billion last year.

Cartography Biosciences Inc. has closed a $67 million series B financing to support its pipeline of T-cell engaging bispecific and multispecific antibody therapeutics that target novel and highly specific tumor antigens.

Cirrus Therapeutics Inc. has closed an $11 million seed financing to advance its pipeline of gene and cell therapies designed to preserve sight and extend ocular healthspan in patients with chronic blinding diseases.

Pop Biotechnologies Inc. has been awarded a $2.46 million grant by the National Institutes of Health (NIH) to pursue development of a ‘mosaic’ active immunotherapy against Alzheimer’s disease.

Convatec Group plc plans to invest more than $1 billion in the U.S. and U.K. over the next decade as it looks to accelerate its research and development (R&D) ambitions.