The Biopharma A List: Taking The Pulse of Newco Creation In 2024

The landscape for overall private biotech financing in 2024 featured investors who were interested in funding new developments – if Big Pharma was willing to pay up eventually in partnerships and M&A – but also reluctance as the industry faced macroeconomic and regulatory uncertainties.

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A key indicator of the strength of the biopharma industry is the health of new company creation. By reviewing Series A financing announced in 2024 as a proxy, In Vivo once again takes measurement of start-up activity and investor appetite for new and exciting science.

First-time financing by start-ups typically represents a strong proportion of overall venture capital (VC) funding. Since 2017, that percentage has hovered around a third, and in 2024, the Series A class continued that trend, accounting for 34% of all VC financing (see Exhibit 1)

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