The companies Formation Bio, Isotopen Technologien München, and Marea Therapeutics bagged the biggest private biotech investments in June 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 June 2024
In June 2024, the biggest private biotech round went to U.S.-based Formation Bio, which raised a very impressive $372 million in series D funds. The company said it plans to use the funds to acquire and in-license candidate drugs, as well as expand its AI capabilities.
Isotopen Technologien München took second place in the listings, as the German company raised €188 million ($202 million) in private equity funds to enhance its radiopharmaceutical pipeline and strengthen its position in medical radioisotope manufacturing. Meanwhile, in third place, Marea Therapeutics launched with $190 million from a combined series A and B financing to accelerate a new generation of medicines for cardiometabolic diseases.
Biotech investments by location in June 2024
When looking at the biggest private biotech investments by location, North America achieved the most funding rounds with 15 in total, with Europe close behind with 11. While North American companies managed to raise $1.3 billion between them, European companies managed $510 million. And, while Asia-Pacific had the same amount of funding rounds as in May (4), the region managed to achieve a higher total from those rounds last month, raising $6 million more than in May.
Biotech investments by funding type in June 2024
June 2024 saw more seed rounds take place than any other, with a total of eight rounds taking place. However, seed rounds did not see the highest amount of money raised; the one series D round achieved by Formation Bio topped the rankings in that respect.
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, private biotech fundraising slowed down a little in June compared to previous months. However, more money was raised last month than in January and February, and more funding rounds took place (30) than in March – despite the fact that more money was raised overall in March.