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The companies Nuvig Therapeutics, Ottimo Pharma, and Angitia Biopharmaceuticals bagged the biggest private biotech investments in December 2024. Around the world, oncology and immunology players attracted the biggest funding rounds overall.
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Biggest biotech investments by value in December 2024
The final month of 2024 saw Nuvig Therapeutics come top of the private biotech fundraising list. The company raised $161 million in a series B round, as it aims to deliver novel methods for reducing autoimmune dysregulation without immunosuppression. The proceeds from the series B financing will support clinical proof-of-concept studies for lead candidate NVG-2089 and advance Nuvig’s preclinical pipeline.
Meanwhile, Ottimo Pharma came in second place after bagging $140 million from a series A round, helping its ambition of developing a cancer drug that blocks PD-1 and VEGF, which is expected to enter the clinic this year. And, in third place, Angitia Biopharmaceuticals closed a $120 million series C round, which will support Angitia’s pipeline of novel, differentiated treatments for serious musculoskeletal diseases.
Biotech investments by location in December 2024
Things went back to normal in December 2024 – compared to November – as companies located in North America raised more than $1 billion between them from 20 rounds, making up 74.2% of the total money raised last month. Europe came in second, with companies in the region raising $374 million between them. And, it’s worth noting that South America also brought in $10 million thanks to a series A round from Brazilian company Nintx, which is developing treatments for multifactorial diseases using Brazil’s biodiversity.
Biotech investments by funding type in December 2024
When we look at the money raised by funding type in December 2024, we can see that more series A rounds took place than any other type of financing, with nine rounds in total, and these types of rounds also brought in the most money with $491 million, making up 31.8% of the total money raised throughout the month. And, although there were fewer series D rounds than any other, with only one taking place, it was seed rounds that brought in the least amount of money overall.
Biotech investments by therapeutic subsector in December 2024
Last month, oncology players once again received the most funding overall, as 26.9% of the total fundraising went to cancer-focused companies, which managed to raise $415 million in total between them. Oncology was also the therapeutic subsector that attracted the most interest, with 11 rounds taking place in total.
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 below, December 2024 saw a slight upswing compared to November, with more rounds taking place and more money raised from those rounds.
Looking at the year as a whole, we can see that, although October had the highest amount of fundraising rounds, with 39 in total, it was April that brought in the most amount of money, with £3.1 billion.
