Sectors · Healthcare & Life Sciences

Biotechnology

Private financing across Biotechnology, aggregated from public sources.

Biotechnology is a subsector of Healthcare & Life Sciences. Zoom out to read the whole macro sector — $400.1B raised across 15,258 companies.

Other Health Care$99.1BPharmaceuticals$60.1BHealthtech$51.9BHospitals and Physicians$12.7BPharma$8.8BBiotech / Pharma$5.7BBiotech$3.7BMedical Devices$3.2B
$155.0B
Capital raised
4,291
Companies
11,277
Rounds
2000
First on record
2026-06-26
Latest round

Cooling Biotechnology drew $6.0B over the last 12 months, down 47% versus the prior 12 ($11.2B). Of 4,270 companies rankable against same-niche peers, 26% model over-valued and 31% under-valued.

Capital flow over time

Quarterly capital raised across Biotechnology.

2008-Q1 · $233.6M2008-Q12008-Q2 · $218.9M2008-Q3 · $264.4M2008-Q4 · $158.9M2009-Q1 · $374.7M2009-Q2 · $815.5M2009-Q3 · $1.6B2009-Q4 · $1.4B2009-Q42010-Q1 · $1.0B2010-Q2 · $931.9M2010-Q3 · $1.3B2010-Q4 · $1.1B2011-Q1 · $972.1M2011-Q2 · $953.1M2011-Q3 · $3.3B2011-Q32011-Q4 · $1.2B2012-Q1 · $918.2M2012-Q2 · $607.9M2012-Q3 · $1.9B2012-Q4 · $1.1B2013-Q1 · $670.7M2013-Q2 · $861.1M2013-Q22013-Q3 · $946.0M2013-Q4 · $1.1B2014-Q1 · $1.2B2014-Q2 · $1.5B2014-Q3 · $1.3B2014-Q4 · $1.5B2015-Q1 · $1.6B2015-Q12015-Q2 · $2.7B2015-Q3 · $1.9B2015-Q4 · $1.6B2016-Q1 · $942.5M2016-Q2 · $1.4B2016-Q3 · $2.0B2016-Q4 · $1.9B2016-Q42017-Q1 · $3.0B2017-Q2 · $2.2B2017-Q3 · $1.7B2017-Q4 · $1.7B2018-Q1 · $2.8B2018-Q2 · $3.2B2018-Q3 · $2.3B2018-Q32018-Q4 · $2.5B2019-Q1 · $2.2B2019-Q2 · $2.2B2019-Q3 · $2.2B2019-Q4 · $2.7B2020-Q1 · $2.5B2020-Q2 · $3.2B2020-Q22020-Q3 · $4.4B2020-Q4 · $4.6B2021-Q1 · $6.6B2021-Q2 · $4.4B2021-Q3 · $4.3B2021-Q4 · $4.0B2022-Q1 · $3.4B2022-Q12022-Q2 · $3.9B2022-Q3 · $2.9B2022-Q4 · $2.5B2023-Q1 · $2.2B2023-Q2 · $2.4B2023-Q3 · $3.4B2023-Q4 · $2.8B2023-Q42024-Q1 · $4.6B2024-Q2 · $2.7B2024-Q3 · $2.9B2024-Q4 · $2.9B2025-Q1 · $2.4B2025-Q2 · $3.0B2025-Q3 · $2.2B2025-Q32025-Q4 · $2.2B2026-Q1 · $1.4B2026-Q2 · $124.0M
Median round size by stage
StageMedian roundRounds
Growth/Late$403.1M38
Series D+$120.0M305
Series C$46.5M894
Series B$17.5M1,963
Series A$5.4M3,176
Seed$1.7M2,794
Pre-Seed$412K2,107
Top-funded companies
CompanyStageRaisedModeled value
Amgen Inc
Thousand Oaks
Growth/Late$4.8B$106.1B
Sana Biotechnology, Inc.
SEATTLE
Growth/Late$866.9M$34.8B
National Resilience, Inc.
La Jolla
Growth/Late$755.0M$29.2B
Theranos Inc
PALO ALTO
Growth/Late$627.2M$24.7B
Moderna Therapeutics, Inc.
CAMBRIDGE
Growth/Late$451.4M$19.2B
Neumora Therapeutics, Inc.
Watertown
Growth/Late$474.4M$19.0B
Allogene Therapeutics, Inc.
SOUTH SAN FRANCISCO
Growth/Late$411.8M$17.5B
Quantrx Biomedical Corp
DOYLESTOWN
Growth/Late$406.0M$17.2B
Sarepta Therapeutics, Inc.
CAMBRIDGE
Series D+$430.5M$16.5B
Guardant Health, Inc.
Redwood City
Series D+$500.0M$13.2B
Inspiration Biopharmaceuticals Inc
LAGUNA NIGUEL
Series D+$461.3M$10.2B
Intarcia Therapeutics, Inc
Boston
Growth/Late$1.2B$8.4B
Asklepios BioPharmaceutical, Inc.
DURHAM
Series D+$199.7M$8.2B
Adaptive Biotechnologies Corp
SEATTLE
Series D+$614.0M$8.0B
Affinivax, Inc.
CAMBRIDGE
Series D+$233.0M$7.8B
Areteia Therapeutics, Inc.
CHAPEL HILL
Series D+$360.0M$7.8B
ImmunityBio, Inc.
SAN DIEGO
Growth/Late$640.1M$7.8B
Sonoma Biotherapeutics, Inc.
SOUTH SAN FRANCISCO
Series D+$265.0M$7.7B
GIO World Health Ltd
LONDON
Series D+$300.0M$7.4B
Micromet, Inc.
Rockville
Series D+$175.5M$7.2B
Related sectors
Software / Tech$101.3BOther Health Care$99.1BManufacturing$79.4BPharmaceuticals$60.1BOther Energy$56.4BInvestment Vehicle$56.4BAI / ML$56.4BHealthtech$51.9B

Browse all sectors or the full company rankings.

Frequently asked
How much venture funding has the Biotechnology sector raised?
Companies in Biotechnology have raised approximately $155.0B across 11,277 recorded financing rounds among 4,291 companies, aggregated from public sources.
Is Biotechnology venture funding growing?
Biotechnology funding is currently cooling: capital raised over the last 12 months was down 47% versus the prior 12 months.
What is the typical round size in Biotechnology?
Median disclosed round sizes in Biotechnology by stage are: Growth/Late $403.1M, Series D+ $120.0M, Series C $46.5M, Series B $17.5M. These are medians across recorded rounds, not averages.
Which are the most-funded Biotechnology companies?
The most-funded Biotechnology companies in our coverage include Amgen Inc, Sana Biotechnology, Inc., National Resilience, Inc., Theranos Inc, Moderna Therapeutics, Inc.. See the full ranked table for disclosed capital and modeled valuations.
When did Biotechnology funding activity begin in this data?
The earliest recorded Biotechnology financing in our coverage dates to 2000, with the most recent round around 2026-06-26.