The biggest private biotech investments in August 2023

Image/Anastasiia Slynko
biotech investments

The companies Genesis Therapeutics, ADARx Pharmaceuticals, and Abcuro bagged the biggest biotech investments in August 2023. Around the world, companies focused on immunology, genetic disorders, and metabolic disorders attracted the biggest funding rounds.

Overall, quite a lot of biotech fundraising took place in August 2023. As always, there were some big rounds within the U.S. healthcare space, and, in Europe, U.K.-based companies dominated the top funding rounds, both in healthcare and outside of healthcare. 

We’ve gathered the biggest biotech investments that went to private companies around the world in August. The fundraising companies have been split into healthcare and industrial biotechnology-focused verticals.

Healthcare investments in August 2023

The U.S.’ top private biotech healthcare investments went to Genesis Therapeutics and ADARx Pharmaceuticals, which both raised $200 million each. 

Genesis Therapeutics’ Series B round will enable the company to bring its pipeline into clinical development, further advance its AI platform, and expand its discovery pipeline. 

Meanwhile, the $200 million raised by ADARx Pharmaceuticals in its Series C round will help the company advance its two lead assets into the clinic.

The top European biotech healthcare investment round went to Actimed Therapeutics, which secured an additional $6 million funding in a Series A extension round. The proceeds will allow the company to fund its continued development, and ensure preparations for its program evaluating its lead asset for treating cachexia remain on track.

Chinese gene therapy company Neurophth Therapeutics topped the healthcare biotech investment list in the Asia-Pacific region, with a $95 million Series C+ investment in August 2023. The funds will be directed towards advancing clinical trials, enhancing the company’s R&D capabilities, and expanding its pipeline.

Other life sciences investments in August 2023

Outside of the healthcare sector, many biotech companies managed to raise big investments in August 2023, to advance technologies related to food, sustainability and lab tools.

In the U.S., the biggest investment round outside of the healthcare sector went to Newlight Technologies, which bagged $125 million in private equity. The firm is developing decarbonization technology using natural microorganisms to convert greenhouse gases into high-performance AirCarbon-based materials.

Meanwhile, U.K.-based life sciences tools company, Lightcast Discovery, had the biggest investment round in Europe, raising $49 million in a Series B round. The firm is developing a novel single-cell functional analysis platform.

DP Technology came first place in the Asia-Pacific region, after raising $100 million in private equity. The firm is applying AI technology in the research and development in fields such as biomedicine, energy, materials, and information science and engineering.

September’s highlights

There haven’t been too many funding rounds yet in September; the most notable one so far has gone to Innovac Therapeutics, which is an mRNA therapeutics company. It managed to raise $18 million in a Series Pre-A financing round, which will allow the company to further develop its technology platform and manufacturing capability to advance its lead programs to clinical stage.

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