The biggest private biotech investments in September 2024

The companies Candid Therapeutics, ArsenalBio, and eGenesis bagged the biggest private biotech investments in September 2024. Around the world, oncology, immunology, and infectious disease players attracted the biggest funding rounds overall.

Biggest biotech investments by value in September 2024

When looking at September’s biggest private biotech investments, we can see that the top spot went to immunology company Candid Therapeutics, which launched with a $370 million series A round. The company is developing T-cell engager antibodies that can deplete specific B lymphocyte cell populations, with the aim of being the first company to bring these novel therapies to market.

Meanwhile, ArsenalBio bagged the second-largest round of last month, as it raised $325 million in a series C round to advance its programmable cell therapy programs through clinical development, and xenotransplantation company eGenesis brought in the third-largest round, bagging $191 million in series D funding to advance its lead program to a first-in-human study for kidney transplant.

Biotech investments by location in September 2024

North America was once again the region with the most fundraising rounds in September, and companies in the region also brought in the most amount of money, raising a total of $1.7 billion between them. Meanwhile, European companies managed to raise $344 million from 10 rounds and the Asia-Pacific region brought in $17 million from just three rounds.

Biotech investments by funding type in September 2024

As you can see from the graph below, more series A rounds took place in September than any other. Series A rounds also brought in the most money overall, as a total of $724 million was raised from these rounds. Series B rounds were the second most popular funding type last month, with eight rounds taking place, bringing in a total of $493 million.

Biotech investments by therapeutic subsector in September 2024

September also saw 37.9% of the total fundraising go to companies focused on oncology. Between them, these companies brought in $783 million from 13 rounds. Immunology players raised the second-largest amount, as two companies with a focus in this area – one of them being Candid Therapeutics – managed to bring in a total of $385 million.

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. 

After a slow month for fundraising in August, things appeared to be back to normal last month; there were 11 more rounds in September than in August, with $937 million more raised. In fact, last month also beat June and July in terms of total rounds and total amount raised.