The biggest private biotech investments in May 2023

Image/Anastasiia Slynko
biotech investments

The companies ElevateBio, ReNAgade Therapeutics and Carmot Therapeutics bagged the biggest biotech investments in May 2023. Around the world, biomanufacturing and oncology players attracted the biggest funding rounds.

A lot of private biotech fundraising took place in May 2023, with some particularly big rounds in the U.S. healthcare sector, as five companies took home $100 million or more. 

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

Healthcare investments in May 2023

The U.S.’ top private biotech healthcare investment went to ElevateBio, as the company took home $401 million in a series D financing round. The proceeds will be used to further advance the company’s cell and gene technology platforms, end-to-end capabilities, and therapeutic pipeline.

In Europe, French company TISSIUM bagged the biggest investment, raising $53.8 million in a series D funding round. The company uses biomorphic programmable polymers to reconstruct damaged tissue and restore its natural function.

The Chinese firm Bio-Engine took the biggest investment in the Asia-Pacific region. It raised $42.5 million in series C funding. It develops serum-free media for different cell lines, which are suitable for antibodies, vaccines, and cell and gene therapies.

Other life sciences investments in May 2023

Outside of the healthcare sector, biotech companies also raised big investments to advance technology in subsectors such as food, sustainability and agriculture.

Pluton Biosciences saw the biggest investment in this space after completing a $16.5 million series A funding round. The firm will use the funding to discover and deploy microbes that will help to fight climate change.

Revyve led the European biotech rankings outside of healthcare in May 2023. The company raised $9 million in private equity, which will support the development and production of sustainable ingredients from circularly sourced microbial biomass like brewer’s yeast.

There weren’t many private biotech investment deals in the Asia-Pacific region outside of healthcare in May 2023. The most notable round went to Bestzyme Bioengineering, which raised $35.2 million in private equity. The company is focused on enzyme manufacturing to create products such as feed, bio-ethanol, starch, textiles and food for different industries.

June’s highlights

June 2023 has already kicked off to a promising start when it comes to funding for private biotech companies. 

The most notable investment so far has been for U.S. drug discovery and development company Eikon Therapeutics, after it announced on the first day of the month that it had raised $106 million in the first close in a series C round, alongside the acquisition of exclusive, global rights to early- to mid-stage assets.

Explore other topics: Fundinginvestment

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