The biggest private biotech investments in June 2023

Image/Anastasiia Slynko
biotech investments

The companies Upstream Bio, Alkeus Pharmaceuticals and Worg Pharmaceuticals bagged the biggest biotech investments in June 2023, with oncology and ophthalmology players in particular attracting the most funding rounds.

Overall, more funding rounds took place in June 2023 than in May, and the U.S. healthcare sector once again attracted particularly big rounds.

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

Healthcare investments in June 2023

The top private biotech healthcare investment in the U.S. went to Upstream Bio, which bagged $200 million in a Series B round. The funding will allow the company to advance UPB-101 – a monoclonal antibody for allergic and inflammatory diseases – to the next stage of clinical development.

Meanwhile, in Europe, Italian-based company AAVantgarde Bio took home the biggest investment, as it raised $65.1 million in series A funding. This will help the company advance its two AAV-based large gene delivery platforms, which are being validated in two lead programs for Usher syndrome Type 1B associated retinitis pigmentosa, and Stargardt disease.

The Chinese company Worg Pharmaceuticals topped the healthcare biotech investment list in the Asia-Pacific region with a $152 million series C round in June 2023. The company is developing immunotherapies for allergic and autoimmune diseases.

Other life sciences investments in June 2023

Outside of the healthcare sector, there were also a few biotech companies this month that raised investments to advance technology like biomaterials and food. 

In this space, the U.S.’ biggest investment round went to Ecovative Design, which bagged $30 million in a series E round. The firm grows complete and sustainable materials using mushroom mycelium.

Cultured meat company Uncommon topped the European biotech rankings outside of healthcare this month, raising $30 million in a series A round. The company’s main focus is currently on developing lab-grown pork products.

The Asia-Pacific region didn’t see too many investment deals this month outside of healthcare. The one notable funding round went to Chinese company CellX, which raised $6.5 million in a series A round to launch a pilot-scale facility and begin its production of cultivated meat products.

July’s highlights

Only a few funding rounds have taken place so far in July 2023, with the most significant investment going to Chinese company Sinotau. The company netted an impressive $151.8 million to advance R&D and clinical trials for its radiopharmaceutical pipeline.

Explore other topics: Fundinginvestment

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