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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