UK and German companies led the European biotech funding race in August, specializing in cell therapy, diagnostics, and RNA-based treatments.
With summer in full swing, August was a quieter month than July in terms of European biotech funding. Private biotechs in Europe and Israel — in addition to those going public in an initial public offering — raised a total of €466.8M in 26 deals in August, just over half that of the €860M pocketed in July.
One factor in this drop was the lower number of IPOs in August; the only two major biotech companies taking this step were BiVictriX Therapeutics on the UK stock market AIM and Ectin Research on the Swedish Spotlight Stock Market. Their winnings totaled €13.2M, a fraction of July’s €294M yield.
In August, the vast majority of private biotech funding went to companies focused on biomedical research compared to industrial or other applications. This was a starker trend than in July. The bulk of this cash came from German and UK firms closing Series B rounds.