The biggest private biotech investments in November 2024

The companies Metsera, Alentis Therapeutics, and Adcendo bagged the biggest private biotech investments in November 2024. Around the world, oncology, central nervous system (CNS), and genetic disorder players attracted the biggest funding rounds overall.

Biggest biotech investments by value in November 2024

The biggest private biotech funding round of November 2024 went to Metsera, which raised $215 million in series B funding. The company is focused on advancing the next generation of therapies for obesity and metabolic diseases, and the proceeds from this financing round will go toward further advancing its portfolio of highly differentiated, clinical-stage, Nutrient-Stimulated Hormone (NuSH) analog peptides.

The second largest round of last month went to oncology company Alentis Therapeutics, which bagged $181.4 million in series D financing to support its development of a pipeline of Claudin-1 (CLDN1) targeted antibody-drug conjugate (ADC) therapies for solid tumors, while the third largest round went to fellow ADC company Adcendo, which completed a $135 million series B round to support the advancement of multiple ADC programs into the clinic and through clinical proof of concept.

Biotech investments by location in November 2024

When looking at November’s biotech fundraising by location, we can see that, although North America still came out on top with the highest amount of rounds and largest amount of money raised, significantly less fundraising occurred in the region last month compared to October’s statistics, which saw 10 more rounds take place and $1.7 billion more raised. The trend also occurred in Europe, which had seven fewer rounds in November than in October and brought in $176.8 million less. However, the Asia-Pacific region saw one more round take place last month compared to October and raised $92 million more.

Biotech investments by funding type in November 2024

In terms of funding type, November saw more series A rounds (eight) take place than any other. However, the highest amount raised came from series B rounds, with a total of $454 million coming in from just four rounds of this type, making up 35.4% of the total value of last month’s fundraising.

Biotech investments by therapeutic subsector in November 2024

As can be seen from the graph below, oncology players once again received the most funding overall, as 44.1% of the total fundraising last month went to cancer-focused companies. These companies managed to raise a total of $565 million from eight funding rounds. Meanwhile, CNS and genetic disorder players had the joint second-most amount of rounds with three each, but CNS companies brought in much more money from these three rounds, raising $131 million compared to the $37 million raised by genetic disorder companies.

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. 

There were far fewer funding rounds in November 2024 than in October and significantly less money was raised, as things appear to be quietening down as we build up to the festive period. There were, however, still more rounds and more money raised last month than in August, which is shaping up to be the poorest month of the year when it comes to private biotech investment.