Biopharma financings soared to $73.76 billion in the first seven months of 2024, marking a substantial 102% jump compared to the $36.47 billion accumulated in the same period in 2023. This amount places 2024 just behind the record-setting years of 2020 ($80.42 billion) and 2021 ($80.74 billion) in terms of funds raised through July. The $2.04 billion secured in July also is an increase from the $1.87 billion raised in June.

Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion.

Artiva Biotherapeutics Inc. raised $167 million through an upsized IPO, with funds aimed at the development of its lead AlloNK program for systemic lupus erythematosus and other autoimmune indications. Just a few days ago, the San Diego based company had aimed to sell 8.4 million shares between $14 and $16 each, but it raised the number of shares offered to 13.92 million and lowered the price to $12 each. The upsize brings Artiva’s shares outstanding following the IPO to about 22.8 million, giving the company a market cap of $273.6 million based on the IPO price.

New U.S. SEC rules designed to reel back the special purpose acquisition (SPAC) market went into effect on July 1, yet only a few weeks later two such companies completed IPOs and are now targeting mergers with health care and life sciences firms, including biopharma and medical technology.

Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion. Biopharma financings in the first half of 2024 reached $70.19 billion, marking a 130% increase over the first half of 2023. Only the first half of 2021, which saw $71.58 billion raised, has been higher.

Beyond its success in migraine and attention deficit hyperactivity disorder, Nu Eyne Co. Ltd. is advancing a portfolio of noninvasive, wearable trigeminal nerve stimulation devices across key three areas of neuromodulation, tissue regeneration and proliferation inhibition.

Biopharma financings reached $70.09 billion in the first half of 2024, a 129% increase from the $30.57 billion raised in the first half of 2023. At more than $70 billion, this year's financings are already approaching the full-year total of $70.97 billion for 2023. June saw $7.57 billion in total financings, a decrease from $9.15 billion in May.

In the first six months of 2024, the med-tech industry raised $13.84 billion, a 29% increase from the $10.75 billion collected during the first half of 2023. While May saw a significant $5.05 billion raised, the monthly total decreased to $1.14 billion in June.