Bio­phar­ma ven­ture fund­ing falls to the low­est to­tal since 2019 as star­tups pon­der al­ter­na­tive paths

Ven­ture cap­i­tal in­vest­ments in biotech and phar­ma hit a more than three-year low last quar­ter as a pro­longed mar­ket down­turn forced dif­fi­cult next-step de­ci­sions for star­tups and in­vestors.

In the first quar­ter, VCs in­vest­ed just $4.1 bil­lion in­to biotech and phar­ma com­pa­nies, the low­est quar­ter­ly to­tal since the end of 2019 when they put in $4.0 bil­lion, ac­cord­ing to da­ta from Pitch­Book, which tracks deals. There were few­er in­vest­ments as well — 203 in the first quar­ter, the small­est count since 2016.

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