The biggest biotech funding rounds in July 2025

The companies Abivax, MapLight Therapeutics, Everest Medicines, and Soleno Therapeutics bagged the biggest biotech funding rounds overall in July 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 July 2025

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

Biggest private biotech funding rounds by value

In July 2025,  MapLight Therapeutics bagged the biggest private funding round, bringing in $372.5 million in series D financing. This will help to advance the company’s lead program, ML-007C-MA, through ongoing phase 2 trials for schizophrenia and Alzheimer’s disease psychosis, and fund the exploration of other potential indications for the candidate. 

Radiopharmaceutical company Artbio also raised an impressive amount last month when it bagged $132 million from a series B round, which will go toward supporting the advancement of the company’s lead asset, AB001, for the treatment of metastatic castration-resistant prostate cancer, through phase 2 of development. 

Avalyn Pharma, meanwhile, achieved the third-largest round last month, bagging $100 million in a series D round. The proceeds from this will support key clinical milestones across Avalyn’s pipeline programs in pulmonary fibrosis, including the late-stage development of Avalyn’s lead programs, which consist of optimized inhaled formulations of pirfenidone (AP01) and nintedanib (AP02).

Private biotech funding rounds by location

When narrowing down the biotech funding data from last month by location, we can see that North America came out on top, with companies headquartered in the region raising $768 million from seven rounds. And, although Europe and Asia-Pacific only saw two rounds each, the European companies managed to bag more from their two rounds, bringing in $173.5 million versus Asia-Pacific’s $102 million.

Private biotech funding rounds by funding type

July 2025 saw more series B rounds take place than any other funding type, with four rounds in total. However, it was series D rounds, of which only two took place, that brought in the most money, with $472.5 million – thanks to MapLight Therapeutics’ $372.5 million round and Avalyn Pharma’s $100 million round.

Private biotech funding rounds by therapeutic subsector

Although oncology companies came out on top once again last month in terms of the number of funding rounds that took place, it was actually the therapeutic subsector of neurological conditions that brought in the most money, despite only attracting two rounds. This, again, was largely thanks to MapLight Therapeutics’ $372.5 million raise.

Public biotech funding rounds in July 2025

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

Public biotech funding by value

Abivax managed to achieve the biggest funding round overall in July 2025 after closing a $747.5 million public offering. According to the company, the net proceeds from this will enable it to finance its operations into the fourth quarter of 2027, allowing it to reach 12 months of expected cash runway following the planned new drug application (NDA) submission for ulcerative colitis if positive results are achieved from its phase 3 maintenance trial.

In joint-second place in the public fundraising rankings last month were China-based Everest Medicines and U.S.-based Soleno Therapeutics, with both companies bringing home $200 million each. Everest said that it intends to use approximately 50% of the net proceeds from its share placement to support global research and development of pipeline products, 40% for commercialization efforts, and 10% for working capital and general corporate purposes. Soleno, meanwhile, said it will use the net proceeds from its public offering to fund the commercialization of VYKATTM XR, the first approved therapy to address hyperphagia in individuals with Prader-Willi syndrome, which was given the green light by the U.S. Food and Drug Administration (FDA) in March.

Public biotech funding by therapeutic subsector

When looking at public fundraising by therapeutic subsector, we can see that oncology companies achieved the highest number of rounds, with three in total. However, the subsector of inflammatory diseases came out on top in terms of fundraising, all thanks to Abivax’s $747.5 million public offering.

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. 

 While private fundraising lagged behind its normal levels again in July, public fundraising had another impressive month – although less was raised than in June, public companies experienced their second-best month of the year so far, bringing in a total of $1.898 billion, exceeding the amount raised by private companies for the second month in a row.