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)