Biopharma funding fell 20% last year, reversing the post-pandemic recovery as the IPO haul dropped to the lowest level of the past 10 years. IQVIA shared the data in a report that tracked surges in the number of deals with Chinese biotechs and agreements worth more than $2 billion. Companies raised $82 billion across public and private rounds in 2025, down from $102 billion the prior year. The collapse of follow-on financings, which dropped from $46 billion to $30 billion, and IPOs drove the decline. At $3 billion, the amount raised in IPOs set a 10-year low, falling short of even the $4 billion raised in 2023. Private rounds and fundings classed as “public/other” held steady.
Read the full article: Biopharma Funding Dropped 20% in 2025 as Companies Doubled Down on Big Bets: IQVIA //
Source: https://www.fiercebiotech.com/biotech/biopharma-doubles-down-big-bets-and-china-ipos-hit-10-year-low