The biggest private biotech investments in November 2023

Image/Anastasiia Slynko
biotech investments

The companies Cambrian Innovation, Terremoto Biosciences, and VectorY Therapeutics bagged the biggest biotech investments in November 2023. Around the world, oncology and central nervous system players attracted the biggest funding rounds.

As we edge closer to Christmas, biotech fundraising appears to be drying up a bit; there was a significant decrease in funding rounds in November compared to previous months. In fact, the Asia-Pacific region didn’t see any major funding rounds take place last month, either in healthcare or outside of healthcare. 

Nevertheless, we’ve still gathered the biggest biotech investments that did go to private companies around the world in November 2023. The fundraising companies have been split into healthcare and industrial biotechnology-focused verticals.

Healthcare investments in November 2023

The U.S.’ top private biotech healthcare investment went to small molecule drug discovery company Terremoto Biosciences. The company took home $175 million in a series B round to advance its platform and support the progress of multiple in-house discovery and development programs targeting diseases of high unmet medical need.

Meanwhile, the top European biotech healthcare investment round went to Dutch firm VectorY Therapeutics after it raised $138 million in a series A round. The proceeds will help the company to advance its preclinical lead program in amyotrophic lateral sclerosis (ALS).

As mentioned earlier, the Asia-Pacific region didn’t see any major funding rounds take place within its healthcare sector last month.

Other life sciences investments in November 2023

There were very few funding rounds that took place outside of the healthcare sector in November 2023. The companies that did manage to raise were involved in advancing technology such as food, water treatment, manufacturing, and sequencing.

In this space, the U.S.’ only major investment round went to Cambrian Innovation, which bagged a very impressive $200 million in private equity. The company is a leader in wastewater treatment, water reuse, and energy recovery-as-a-service.

Europe was the region with the most funding rounds outside of healthcare last month, with AI company Cradle leading the pack after raising $24 million in a series A round. The company uses generative AI to help scientists design and engineer proteins.

Unfortunately, the Asia-Pacific region didn’t see any major fundraising rounds take place outside of healthcare either.

December’s highlights

So far in December 2023, machine learning immunology company Seismic Therapeutic has managed to raise the largest funding round, bagging $121 million in a series B investment. The money will be put towards advancing two programs currently in preclinical development through IND-enabling studies and phase 1 trials.

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