Finance Watch: 3Q Biopharma Venture Capital Financings Fell From 2Q Spike

VC deals totaled $8.3bn in the first half of 2019, but the year's total rose to just $11.5bn at the end of September, reflecting only a $3.2bn third quarter gain. Among recent financings, Cygnal emerged from stealth mode with $65m invested to date.

This year's venture capital total as of the third quarter shows that money raised by biopharmaceutical companies is on a rollercoaster ride in 2019, according to the latest Venture Monitor report from Pitchbook and the National Venture Capital Association (NVCA).

Pitchbook and NVCA reported earlier this year that biopharma companies raised $2.2bn in the first quarter and $8.3bn in the first half of 2019, meaning that VC investment in the sector surged in the second quarter with $6.2bn raised by drug developers. (Also see "Finance Watch: High Value Of Exits Keep Biopharma VC Deals At Near-Record Levels" - Scrip, 19 July, 2019.) The $11

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