De­spite a sum­mer of block­buster rounds, biotech fund­ing is on track to lev­el off at pre-pan­dem­ic norms

It might ap­pear as though the pri­vate biotech sec­tor is ap­proach­ing a thaw. In re­cent weeks, a Flag­ship start­up raised $273 mil­lion, an RNA com­pa­ny put to­geth­er $200 mil­lion, and even a pre­clin­i­cal ra­dio­phar­ma­ceu­ti­cal biotech se­cured $175 mil­lion.

But un­der the mi­cro­scope, the re­al­i­ty is much more com­pli­cat­ed.

Pri­vate biotech fi­nanc­ing has re­mained large­ly flat for much of the year, ac­cord­ing to Pitch­Book da­ta as of Mon­day. The sec­tor pulled in rough­ly $5 bil­lion each quar­ter in 2023. That’s high com­pared to his­tor­i­cal lev­els, At­las Ven­ture part­ner Bruce Booth tells End­points News, but well be­low the Covid-19 pan­dem­ic boom years of 2020 and 2021.

Endpoints News

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