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The companies Mirador Therapeutics, Alumis, and Sionna Therapeutics bagged the biggest private biotech investments in March 2024. Around the world, oncology and central nervous system (CNS) players attracted the biggest funding rounds overall.
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Biggest biotech investments by value in March 2024
Mirador Therapeutics launched last month with what was the biggest biotech investment in March as well as the largest funding round of the year so far. Emerging to develop precision medicines for inflammatory and fibrotic diseases, the company managed to raise a whopping $400 million in its series A round.
Meanwhile, Alumis brought in the second largest round after raising $259 million in series C funding to support its pipeline of oral therapies for immune dysfunction, and Sionna Therapeutics came in third place, as it announced a $182 million series C financing to advance the clinical development of novel small molecules for the treatment of cystic fibrosis.
Biotech investments by location in March 2024
Splitting March’s biggest investment rounds into location-based data, we can see that North America once again had the most funding rounds, whereby a total of $1.9 billion was raised from 15 rounds. In Europe, meanwhile, $266 million was raised from nine rounds. And, unfortunately, there were no major funding rounds in March 2024, in the Asia-Pacific region.
Biotech investments by funding type in March 2024
In terms of funding type, there were more private equity rounds in March than any other type, with six rounds taking place in total. However, only $93 million was raised from these six rounds. The most cash raised came from series A rounds instead, whereby $652 million was raised from five funding rounds, largely thanks to Mirador Therapeutics’ massive $400 million financing.
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, although March saw fewer funding rounds taking place overall, with a total of 24 rounds, more money was raised last month than in January and February. In fact, $826 million more was raised by companies in March when compared to February, as March’s grand total came to an impressive $2.19 billion.
