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The companies Xaira Therapeutics, Metsera, and Obsidian Therapeutics bagged the biggest private biotech investments in April 2024. Around the world, oncology and drug discovery players attracted the biggest funding rounds overall.
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Biggest biotech investments by value in April 2024
In March, we saw Mirador Therapeutics raise the largest amount of money so far this year with a $400 million funding round. But it didn’t hold that crown for long, as Xaira Therapeutics well and truly blew that figure out of the water, raising an incredible $1 billion in private equity investment when it launched last month. The company is building a platform for drug discovery and development that will advance multiple drug programs and unlock biological understanding to inform future discovery.
Coming second on the list of top 20 private biotech investments in April was Metsera, which raised $290 million in a series A round, as it looks to usher in the next generation of obesity and metabolic disease therapies. Following Metsera on the list, in third place, was Obsidian Therapeutics, raising $160.5 million in series C funding to support the clinical development of its OBX-115 program for melanoma and non-small cell lung cancer (NSCLC) in ongoing trials.
Biotech investments by location in April 2024
Largely thanks to U.S.-based Xaira Therapeutics’ $1 billion funding round, North America brought in the largest amount of money in April 2024, generating a total of around $2.6 billion. The continent also saw the highest number of rounds take place with 20 in total.
Although last on the list of biotech investments by location, the Asia-Pacific region did see an improvement compared to March (when it failed to generate any major funding rounds), as April saw four rounds take place in the region.
Biotech investments by funding type in April 2024
Although there were more series A rounds (10) than any other in April, the largest sum of money was raised through private equity investments, whereby a total of $1.156 billion was raised in eight rounds. Again, this is mainly due to Xaira Therapeutics bringing in $1 billion in private equity.
It’s also worth noting that a lot of different funding types took place last month compared to usual, which included pre-series A, series A-1, series B-1, and series B-2 rounds.
Month-to-month comparison of biotech investments
Below is a graph showing a month-to-month comparison of private biotech fundraising. We have included the total number of funding rounds, as well as the total amount of money raised per month.
As you can see from the graph, April was the best month of the year so far for private biotech investments, both in terms of the number of rounds (35) and the amount raised ($3.1 billion). Last month saw 11 more rounds take place and $920 million more was raised than in March.
