The biggest private biotech investments in September 2023

Image/Anastasiia Slynko
biotech investments

The companies Generate Biomedicines, Apollo Therapeutics and Nimbus Therapeutics bagged the biggest biotech investments in September 2023. Around the world, drug discovery and oncology players attracted the biggest funding rounds.

As we made our way into autumn in the Northern Hemisphere, September 2023 saw some big funding rounds take place around the globe, particularly within the U.S. and European healthcare sectors. 

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

Healthcare investments in September 2023

The U.S.’ top private biotech healthcare investment went to Generate Biomedicines. The company took home $273 million in a Series C round to advance its generative AI pipeline of preclinical and clinical protein therapeutics. 

The top European biotech healthcare investment round went to U.K.-based Apollo Therapeutics, which raised $226.5 million in Series C financing. The company is focused on translating fundamental medical research into medicines through a hub-and-spoke approach.

Another Chinese firm came out on top in the Asia-Pacific region in September 2023, with Grit Biotechnology raising $60 million in a Series B round. The cell therapy company specializes in the field of tumor immunotherapy, and the proceeds will support its tumor-infiltrating lymphocyte (TIL) pipeline development.

Other life sciences investments in September 2023

Outside of the healthcare sector, a few biotech companies in Europe and the Asia-Pacific region managed to raise big investments to advance technology such as biomanufacturing and lab tools.

Unfortunately, the U.S. didn’t see any fundraising outside of the healthcare sector in September 2023. 

German biomaterials company traceless materials led the European industrial biotech rankings. The firm’s $38.7 million Series A round will be used to bankroll the construction of its first industry plant so that it can produce its bio-circular alternative material on a large scale.

Meanwhile, first place in the Asia-Pacific region went to the Chinese synthetic biology company Cataya Bio, which raised $34.5 million in a Series B round. The company engages in the biomanufacturing of chemical and biochemical products.

October’s highlights

October 2023 has already seen a few fundraising rounds taking place, the largest of which was raised by U.S.-based Iambic Therapeutics, which closed a $100 million Series B round. 

The proceeds will be used to advance multiple candidates into clinical development, expand the company’s pipeline with additional candidates with best-in-class and first-in-class potential, and continue to innovate and build next-generation AI and automation technologies for drug discovery.

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