The amount of venture capital raised during the second quarter of 2021 was almost double the total raised in the second quarter of 2020, but the biggest reason that biopharma financings jumped from $34.8bn in Q2 of last year to $42.2bn in Q2 of this year was debt financings, which more than tripled year-over-year.
Global biopharma financing data from Biomedtracker show that 134 companies raised $8.56bn in venture capital during the second quarter of 2021 versus $5bn raised by 85 drug developers during the year-ago quarter. Debt financings soared from $5.53bn in Q2 of 2020 to $18.98bn in the second quarter of this year, led by Organon’s $9.5bn in debt financings related to its spinout from Merck & Co., Inc. in June
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