Biopharmaceutical companies raised $19.5bn in venture capital through the third quarter of 2020 and now Pitchbook and the National Venture Capital Association (NVCA) have revealed that the industry brought in a total of $27.4bn last year, beating the prior record of $19.8bn in 2018 by a wide margin.
The Venture Monitor produced by Pitchbook and the NVCA with support from Silicon Valley Bank (SVB) and Velocity Global showed that 998 biopharma companies raised venture capital in 2020, which amounts to $29.8m per company on average, up 43% from 2019’s average of $20.8m when 934 companies raised $17.3bn. The average amount raised in 2018, when 873 drug developers were funded, was $22.7m
