The biggest biotech funding rounds in June 2025

The companies Insmed, Cidara Therapeutics, and Cogent Biosciences bagged the biggest biotech funding rounds overall in June 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 June 2025

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

Biggest private biotech funding rounds by value

Last month, it was Cogent Biosciences that managed to bag the biggest private investment after securing $400 million in non-dilutive financing via a debt financing facility managed by SLR Capital Partners. As per the agreement, Cogent drew $50 million from the facility at closing, and an additional $100 million will be available during 2025 at Cogent’s discretion, subject to successful topline data readouts from two pivotal trials of Cogent’s lead candidate, bezuclastinib. An additional $50 million will then be available upon achievement of early commercial success following the launch of bezuclastinib, and the remaining $200 million will be available at the mutual agreement of Cogent and SLR. 

Also securing non-dilutive funding last month was Dyne Therapeutics, which bagged the second biggest financing round of the month after it entered into a $275 million senior secured term loan facility with Hercules Capital. According to the company, this transaction will strengthen its balance sheet as it advances DYNE-101 and DYNE-251 through critical clinical and regulatory milestones, for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD), respectively. 

Meanwhile, Antares Therapeutics emerged with the third biggest private investment, bagging $177 million in series A financing to develop precision medicines for cancer and other serious diseases. 

Private biotech funding rounds by location

As has come to be expected, North American companies came out on top in the biotech funding rankings in June 2025, with nine rounds and a total of $1.191 billion raised. Despite only having two fewer rounds than North America, Europe lagged quite far behind in terms of the total amount raised, bringing in just $504.42 million. Asia-Pacific, meanwhile, witnessed its best performance in a long time, with three rounds and $57 million raised.  

Private biotech funding rounds by funding type

When looking at private biotech fundraising last month by funding type, we can see that Series A rounds dominated the rankings in terms of rounds, with six in total. However, it was non-dilutive financing that emerged victorious when it came to the total amount raised, with funding of this type bringing in $675 million – all thanks to the large sums of money secured by Cogent Biosciences and Dyne Therapeutics.  

Private biotech funding rounds by therapeutic subsector

Bucking the usual trend of oncology companies coming out on top, June 2025 saw companies focused on neurological conditions achieve the most rounds with four (from which $430 million was raised), and genetic disease companies secure the most money with $601 million raised from three rounds. Nevertheless, oncology companies did come third in the rankings, bringing in a total of $210 million from three rounds.  

Public biotech funding rounds in June 2025

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

Public biotech funding by value

Insmed secured the largest biotech financing of June 2025 after securing an extremely impressive $750 million from a public offering. The company said that it intends to use the net proceeds from this offering to fund continued research and development of its candidate brensocatib, as well as pre-commercial and, if approved, commercialization activities related to brensocatib.  

Meanwhile, infectious disease company Cidara Therapeutics raised $402.5 million from a public offering, and oncology company Merus brought in $300 million, also from a public offering. 

Public biotech funding by therapeutic subsector

When it came to public biotech funding last month, the trend of oncology companies dominating the therapeutic subsector table continued, as cancer players managed to complete six fundraising rounds in total. Having said that, it was actually pulmonology that came out on top in terms of amount raised, thanks to Insmed’s $750 million round. 

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. 

Notably, last month saw public fundraising experience its best month of the year so far, as companies managed to raise an incredible $2.7 billion. In fact, this makes June’s public fundraising the second-best total of the year so far, only behind January’s private fundraising total of $3 billion. It is also the first time in 2025 that public fundraising has exceeded private fundraising in any given month.