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The companies Cardurion Pharmaceuticals, Beacon Therapeutics, and Third Arc Bio bagged the biggest private biotech investments in July 2024. Around the world, oncology and central nervous system players attracted the biggest funding rounds overall.
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Biggest biotech investments by value in July 2024
July 2024 saw cardiovascular company Cardurion Pharmaceuticals raise $260 million, which was the largest fundraising of the month. The proceeds from the series B round will be used to support later-stage clinical trials with the company’s two lead drug candidates.
Meanwhile, Beacon Therapeutics raised the second-largest round last month, bringing in $170 million in series B funding to advance the development of ophthalmic gene therapies, and Third Arc Bio secured the third-largest round, as it launched with an oversubscribed $165 million series A financing that will advance the company through clinical studies to address significant unmet needs in oncology and autoimmunity.
Biotech investments by location in July 2024
In July 2024, we can see that North America and Europe both had exactly the same amount of fundraising rounds as in June, with 15 and 11 respectively. However, North America did not raise quite as much money as it did in June when the region achieved a total of $1.3 billion; last month it only managed to bring in $1.1 billion. Europe, on the other hand, managed to raise $282 million more than it did in June.
Meanwhile, although the Asia-Pacific region had two fewer rounds than in June, it managed to raise more money in July, bringing in $42 million in total.
Biotech investments by funding type in July 2024
In July 2024, there were more series A rounds than any other, with 13 in total, and $757 million was raised from these rounds. Series B rounds also brought in a lot of money ($555 million) from just four rounds. There were also four series C and four seed rounds, with series C rounds bringing in $366 million and seed rounds bringing in $33 million.
And it’s worth noting that an impressive $150 million was raised from just one series D round thanks to German company CatalYm’s fundraising achievement last month.
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, more money was actually raised in July than in June – $92 million more – despite there being fewer funding rounds taking place overall (28 in July compared to 30 in June). However, last month was still far from reaching April’s peak of $3.1 billion in terms of the total amount raised.
