The top 100 ven­ture play­ers in bio­phar­ma to­day. Who's in? What's out?

2023 marks one of those years in life sci­ences when ven­ture cap­i­tal spent a lot of time look­ing for ways to pre­serve cash run­ways and find­ing bridges to hu­man da­ta — which of­fer one of the few pre­dictable av­enues to a suc­cess­ful ex­it these days. And you can see how it all played out in this year’s top 100 list of biotech in­vestors, from Deal­For­ma chief Chris Doko­ma­ji­lar.

Run through all the Deal­For­ma lists since we launched End­points News in 2016 (here’s last year’s of­fer­ing), and you can see the ex­hil­a­rat­ing highs of an un­sus­tain­able pan­dem­ic boom right through the out­lines of the in­evitable down­turn, which was still un­wind­ing through a grim pe­ri­od last year.

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