The second quarter of 2023 was a good news bad news situation for venture capital investment in biopharmaceutical companies, according to the latest Venture Monitor report from Pitchbook and the National Venture Capital Association (NVCA). There were fewer VC financings in Q2 than there were in Q1 – dropping to 211 funded companies from 237 – but the amount of capital raised did not decrease, holding steady at $5bn in the second quarter, a tiny bit higher than the $4.9bn total in the prior quarter.
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