The biggest biotech funding rounds in August 2025

The companies Kriya Therapeutics, Strand Therapeutics, and Minghui Pharmaceutical bagged the biggest biotech funding rounds overall in August 2025 across private and public funding types. In this article, we break down last month’s private and public fundraising activity, looking at the largest rounds in more detail. 

Private biotech funding rounds in August 2025

First, let’s take a look at the private biotech investments in August 2025, breaking them down by value, location, funding type, and therapeutic subsector.

Biggest private biotech funding rounds by value

In August 2025, not only did gene therapy company Kriya Therapeutics achieve the largest round of the month, but it also achieved one of the largest private biotech rounds so far this year, bringing in a very impressive $313.3 million. The fundraising also bucked the current trend for the gene therapy field, whereby investment has been on the decline over the last year or so. 

Strand Therapeutics bagged the second-largest round of last month, raising $153 million in a series B round. This will enable it to advance its pipeline, which is led by STX-001, a programmable mRNA therapy currently in phase 1 of development that expresses the cytokine interleukin-12 (IL-12) directly from the tumor microenvironment. 

Meanwhile, in third place, Chinese biotech Minghui Pharmaceutical brought in $131 million in what it referred to as a “pre-IPO” round. According to the company, the proceeds will be used to advance its clinical programs, with a particular focus on its PD-1/VEGF bispecific antibody and combination strategies with antibody-drug conjugates (ADCs), as well as support the planned commercial launch of its topical JAK inhibitor in China.

Private biotech funding rounds by location

As usual, North American companies dominated the fundraising standings in August 2025, bringing in $837.4 million from eight rounds. On the other end of the spectrum, Europe had a particularly poor month, with only one significant funding round taking place in the region. Unusually, this meant that companies from the Asia-Pacific region actually performed better, bringing in $186.7 million from two rounds.

Private biotech funding rounds by funding type

August saw more series A rounds take place than any other, with three in total. However, series B financings outperformed series A financings by the narrowest of margins when it came to the total amount raised, with series A bringing in $152 million and series B bringing in $153 million – this came from just one round, achieved by Strand Therapeutics. There were also a notable number of undisclosed fundraising rounds that took place last month.

Private biotech funding rounds by therapeutic subsector

As we have come to expect, oncology companies dominated the standings last month, bringing in a total of $505.1 million from five rounds. Meanwhile, in terms of value, the subsector of chronic diseases came in second place, thanks to Kriya Therapeutics’ $313.3 million fundraising round.

Public biotech funding rounds in August 2025

Now, let’s check out the public biotech fundraising rounds that occurred in August 2025, breaking them down by value and therapeutic subsector.

Public biotech funding by value

Looking at the public fundraising outlook last month, Compass Therapeutics raised the largest amount, bringing in $120 million from a public offering. The company said that it intends to use the proceeds from this to conduct initial preparations for commercial readiness, to fund research and clinical development of its product candidates, and for general corporate purposes.

Meanwhile, in second spot, Shattuck Labs raised $103 million from a private placement, and in third place, X4 Pharmaceuticals raised $85 million, also from a private placement.

Public biotech funding by therapeutic subsector

Oncology players also came out on top in the public fundraising landscape in August, bringing in $216.9 million in total from four rounds. Meanwhile, the subsector of ophthalmology came second in terms of the number of rounds, with two, while the subsector of inflammatory diseases came second in terms of value, thanks to the $103 million raised by Shattuck Labs.

Month-to-month comparison of biotech fundraising

Below is a graph showing a month-to-month comparison of private and public biotech fundraising, looking at the total amount of money raised per month in 2025.

August is usually a slightly quieter month for biotech fundraising, and this definitely showed last month. Additionally, while public fundraising performed very well in June and July, it was back down again last month, with private fundraising outperforming public – private companies raised approximately $1.07 billion, while public companies brought in just $469 million.