Over the past year, North American biotech firms continued to lear the world in funding by a significant margin in an analysis that included a various equity fundraising types drawn from Crunchbase.
Argenx, a publicly traded Dutch biotech, raised $1.1 billion from investors in July 2023 through a global offering. Next in line was Xaira which raised $1 billion in capital from a consortium of prominent investors.
Moderna raised $750 million in funding from Blackstone’s life sciences arm to help develop its flu vaccines in March 2024.
Outside of argenx, other notable fundraising in Europe and the United Kingdom include Switzerland’s Idorsia, which secured $583.5 million in June 2023 while Cambridge, UK-based Bicycle Therapeutics raised $555 million in May 2024 for developing bicyclic peptide therapeutics. Other notable fundraisers included the clinical-stage Hamburg, Germany–based biopharma based Evotec ($293.6 million in December 2023). UK-based biopharmaceutical companies, such as Kymera Therapeutics ($275 million) and Generate Biomedicines, ($273 million) have recently secured significant funding.
| Organization Name | Headquarters Location | Last Equity Funding Amount | Last Funding Date |
|---|---|---|---|
| argenx | Boston/Amsterdam | $1.1 billion | July 2023 |
| Xaira Therapeutics | San Francisco, California, United States | $1 billion | April 2024 |
| Moderna | Cambridge, Massachusetts, United States | $750 million | March 2024 |
| Viking Therapeutics | San Diego, California, United States | $632.5 million | February 2024 |
| Idorsia | Allschwil, Basel-Landschaft, Switzerland | $583.5 million | June 2023 |
| Bicycle Therapeutics | Cambridge, Cambridgeshire, United Kingdom | $555 million | May 2024 |
| Denali Therapeutics | San Francisco, California, United States | $500 million | February 2024 |
| Apogee Therapeutics | San Francisco, California, United States | $483 million | March 2024 |
| Cerevel Therapeutics | Boston, Massachusetts, United States | $450 million | October 2023 |
| LegoChem Biosciences | Daejeon, Taejon-jikhalsi, South Korea | $416.5 million | January 2024 |
| Mirador Therapeutics | San Diego, California, United States | $400 million | March 2024 |
| Avidity Biosciences | San Diego, California, United States | $400 million | February 2024 |
| Akero Therapeutics | Cambridge, Massachusetts, United States | $366.9 million | March 2024 |
| Arvinas | New Haven, Connecticut, United States | $350 million | November 2023 |
| Crinetics Pharmaceuticals | San Diego, California, United States | $350 million | February 2024 |
| Arcus Biosciences | Hayward, California, United States | $320 million | January 2024 |
| Nuvalent | Cambridge, Massachusetts, United States | $300 million | October 2023 |
| Uniquity Bio | Malvern, Pennsylvania, United States | $300 million | May 2024 |
| Janux Therapeutics | La Jolla, California, United States | $296.5 million | February 2024 |
| Evotec | Hamburg, Hamburg, Germany | $293.6 million | December 2023 |
| SpringWorks Therapeutics | Stamford, Connecticut, United States | $275 million | December 2023 |
| Mural Oncology | Waltham, Massachusetts, United States | $275 million | November 2023 |
| Kymera Therapeutics | Cambridge, Massachusetts, United States | $275 million | January 2024 |
| Generate Biomedicines | Somerville, Massachusetts, United States | $273 million | September 2023 |
| Cellares | South San Francisco, California, United States | $255 million | August 2023 |
LegoChem Biosciences, a South Korean clinical-stage biopharmaceutical company, was the largest biotech investment in Asia over the past year in the dataset. The confectionary firm Orion Group acquiring a 25.7% stake for $416.5 million in January 2024. This investment, along with LegoChem’s partnerships with global pharmaceutical giants like J&J, Amgen and CStone Pharmaceuticals, highlights the company’s competitive position in the development of next-generation antibody-drug conjugates (ADCs).
Note: Because the Crunchbase data did not include address-level headquarters information, some companies in the map above may be hidden as a result of other entries being superimposed over them. Although the data was manually cleaned, errors or omissions are possible.
Filed Under: Biotech
