The companies Sinotau, Septerna, and Kriya Therapeutics bagged the biggest biotech investments in July 2023. Around the world, drug discovery and oncology attracted the biggest funding rounds.
Biotech fundraising seemed to dry up a little bit in July 2023 compared to previous months, but that’s only to be expected as the summer kicks in. And, having said that, there were still some impressive funding rounds that took place, particularly in healthcare.
We’ve gathered the biggest biotech investments that went to private companies around the world in July 2023. The fundraising companies have been split into healthcare and industrial biotechnology-focused verticals.
Healthcare investments in July 2023
In the biggest funding rounds in the U.S. this month, Septerna and Kriya Therapeutics both managed to raise $150 million each.
Septerna’s Series B round will allow the company to advance its pipeline of novel GPCR-targeted medicines, while Kriya Therapeutics’ addition to its Series C round will help it to move its gene therapies into the clinic and further scale its engineering, computational and manufacturing platforms.
In Europe, British company Tenpoint Therapeutics bagged the biggest round, launching with $70 million in Series A financing, as it aims to reverse vision loss through engineered cell-based therapeutics and in vivo reprogramming.
Meanwhile, in the Asia-Pacific region, the Chinese firm Sinotau raised $152 million in financing to develop radiopharmaceutical drugs for cardiovascular diseases, Alzheimer’s disease, and cancer.
Other life sciences investments in July 2023
There weren’t too many funding rounds taking place outside of the healthcare sector in July, but some companies did manage to raise big investments to advance technology in areas such as food, sustainability and agriculture.
In this space, the U.S.’ biggest investment round went to Allonnia. The company raised $30 million in a Series A extension round, and is focusing on developing biological solutions for sustainable mining practices, decarbonization, emerging contaminants, and plastic upcycling.
In Europe, meanwhile, the biggest funding round went to Aphea.Bio. The company’s Series C round saw it bag $78 million to develop pesticide alternatives to boost crop growth.
And, the Asia-Pacific region’s largest investment went to Israeli alt-protein startup Brevel, which raised $18.5 million in its seed round. The company combines sugar-based fermentation of microalgae with a high concentration of light to produce protein that is affordable, neutral in taste and color, and sustainable.
A few investment rounds have already taken place in August 2023. Two of the most notable rounds so far have gone to Solu Therapeutics and Aulos Biosciences, which were announced on the first day of the month.
Solu Therapeutics has raised $31 million in seed financing to develop therapies to eliminate disease-driving cells, while Aulos Biosciences has raised $20 million in Series A extension funding to advance its lead human monoclonal antibody candidate.