The biggest biotech funding rounds in February 2025

The companies Eikon Therapeutics, Sionna Therapeutics, and Abcuro bagged the biggest biotech funding rounds overall in February 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 February 2025

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

Biggest private biotech funding rounds by value

In February 2025, Eikon Therapeutics raised the largest private biotech investment, bringing in a very impressive $350.7 million in series D funding. The proceeds will help it to further advance its lead drug candidate, EIK1001, which is a systemically administered co-agonist of toll-like receptors 7 and 8 currently being tested in a phase 3 trial for advanced melanoma.

The second largest round last month went to Abcuro, as it raised $200 million in series C financing to help it complete a phase 2/3 trial of ulviprubart, a first-in-class monoclonal antibody targeting killer cell lectin like receptor G1 (KLRG1), for the treatment of inclusion body myositis (IBM). Meanwhile, AdvanCell came third in the rankings after raising $112 million in an oversubscribed series C round, which will allow the company to advance ongoing efforts to expand its manufacturing capacity and accelerate the clinical development of its pipeline of radionuclide therapies.

Private biotech funding rounds by location

February 2025 unusually saw Europe have more funding rounds than North America, with six in total compared to North America’s four. However, it was still North America that brought in the largest amount of money, as companies in the region raised a total of $734.2 million, which equated to 78.2% of the total money raised by all regions throughout the month. Even Asia-Pacific managed to raise more money in total than Europe, thanks to Australian company AdvanCell’s $112 million round.

Private biotech funding rounds by funding type

Last month, there were once again more series A rounds than any other type, with three in total. But the largest amount of money was actually brought in from series D funding, despite there only being one round of this type; this was thanks to Eikon Therapeutics’ $350.7 million financing.

Private biotech funding rounds by therapeutic subsector

When looking at funding rounds by therapeutic subsector in February 2025, we can see that oncology companies once again attracted the most rounds (3) and brought in the largest amount of money, raising $470.9 million in total. And, thanks to Abcuro’s $200 million financing round, the autoimmune diseases subsector brought in the second-largest amount of funding last month, despite there only being one round.

Public biotech funding rounds in February 2025

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

Public biotech funding by value

In February 2025, Sionna Therapeutics bagged the largest public fundraising of the month, bringing in $219.2 million through an initial public offering (IPO). This will help to fund the company’s mission of revolutionizing the current treatment paradigm for cystic fibrosis by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein.

Meanwhile, Tectonic Therapeutic raised the second-largest amount after it brought in $185 million from a private investment in public equity (PIPE), and Oculis raised the third-largest amount after attracting $100 million from a public offering.

Public biotech funding by therapeutic subsector

The endocrinology and metabolic disorders therapeutic subsector attracted the most rounds (3) last month, as well as the largest amount of money, as companies focused on this area brought in $289.7 million in total. Plus, it’s worth noting that, in complete contrast to private fundraising last month, the field of oncology attracted the least amount of money when it came to public biotech investments.

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. 

From the graph, we can see that February was a poor month for both private and public fundraising compared to January. In particular, there was an enormous difference in private funding, with around $3 billion amassed in January versus just $939 million in February.