Biopharma companies brought in $13.08 billion in financing during the first quarter (Q1) of 2025, marking a significant drop from every quarter of 2024. The number of financings also declined, with 239 transactions completed in Q1 this year, down from a quarterly average of approximately 299 deals in 2024.

Biopharma companies secured $3.82 billion across 81 public and private financings in March 2025, marking a 28% increase from the $2.98 billion raised through 59 transactions in February.

Biopharma companies secured $3.82 billion across 81 public and private financings in March 2025, marking a 28% increase from the $2.98 billion raised through 59 transactions in February.

After scrapping plans for an IPO in 2022, Hinge Health Inc. is taking a more favorable view of going public given the increased support seen for health care and med-tech stocks in recent months. The San Francisco-based company, a digital provider of physical therapy services, filed a form S-1 with the U.S. SEC stating it plans to offer an unspecified number of shares of class A common stock on the New York Stock Exchange this year.

Med-tech companies raised $3.52 billion in 65 deals in February 2025, up from $2.76 billion across 56 transactions in January.

With more than three weeks left in the first quarter, the value of med-tech IPOs for 2025 already exceeds the funds raised from all IPOs for med-tech companies in the last two years combined. Kestra Medical Technologies Ltd. provides a clear example of how fast the market is heating up, with a final IPO that raked in more than twice as much as initially expected, while Advanced Biomed Inc. shows the appeal of the U.S. exchanges for non-U.S. companies.

Basel Medical Group Ltd. is the first Singapore-based med-tech to price an IPO on the Nasdaq this year, aggregating gross proceeds of $8.82 million on its debut. The funds will be used to power future M&As and business expansion plans in Singapore and Southeast Asia, the company said.