Mabylon AG has raised a total of CHF30 million (US$37 million) to advance its pipeline and support its work using human-derived, multi-specific antibodies for the treatment of allergies. The funding combines equity investment and a convertible loan.

Equillium Inc. has entered into a definitive securities purchase agreement with health care investors that will provide up to $50 million in gross proceeds to Equillium. The private placement will enable the company to advance its selective aryl hydrocarbon receptor (AhR) modulator EQ-504 into the clinic.

Med-tech companies brought in $18.11 billion through financings in the first seven months of 2025, marking a modest rebound from the sector’s recent lows. The total surpasses the $11.73 billion raised during the same period in 2023 and slightly edged out the $16.59 billion raised in the same period in 2024.

Biopharma companies raised $34.89 billion through financings in the first seven months of 2025, including $5.66 billion in July, down from $7.38 billion in June. This year’s total falls short of $74.03 billion in the first seven months of 2024 and more than $80 billion in 2020 and 2021. However, 2025 is on track to outperform post-pandemic lows of 2022 and 2023, when the seven-month totals reached $33.14 billion and $36.47 billion, respectively.

Minghui Pharmaceutical Ltd. announced it is raising $131 million in a pre-IPO financing round Aug. 7. The funds will be used to advance its cancer and inflammatory disease pipeline, which include a PD-1/VEGF bispecific antibody, antibody-drug conjugates (ADCs) and a topical Janus kinase inhibitor.