Private funding for biotechnology startups rose during the first three months of the year, suggesting some of the sector’s momentum has translated to stepped-up investment in young drugmakers. Twenty-six companies closed private fundraising rounds worth more than $100 million, according to data from HSBC Innovation Banking shared with BioPharma Dive. While venture rounds have grown in size in recent years, $100 million is typically viewed as a significant threshold. Eight of those 26 biotechs were cancer drugmakers, while five were startups developing programs for neurological conditions, said Jon Norris, a managing director with HSBC.
Read the full article: Private Biotech Funding Ticks up as Venture Firms Deploy Cash //
Source: https://www.biopharmadive.com/news/venture-capital-biotech-private-funding-first-quarter-2024/712485/