The biggest private biotech investments in May 2024

The companies Uniquity Bio, AltruBio, and BridgeBio Oncology Therapeutics bagged the biggest private biotech investments in May 2024. Around the world, oncology and immunology players attracted the biggest funding rounds overall.

Biggest biotech investments by value in May 2024

As you can see from the table below, Uniquity Bio bagged the biggest private biotech investment in May 2024, raising an impressive $300 million in a private equity round. This funding was committed by Black Stone Life Sciences as it launched Uniquity Bio last month, and will be used to advance the company’s lead drug candidate in multiple indications. 

Coming in second, AltruBio also raised big in May, bagging $225 in a series B round to advance the clinical development of its ulcerative colitis candidate, while BridgeBio Oncology Therapeutics bagged the third biggest investment after raising $200 million in a private equity round.

Biotech investments by location in May 2024

North America once again saw the most investments take place in May 2024; there were 21 rounds in total, from which $2 billion was raised. Europe came second, raising $344 million from 10 rounds, and Asia-Pacific came last on the list after it saw only four rounds take place with a total of $28 million raised from those rounds.

Biotech investments by funding type in May 2024

Looking at funding type, we can see that, just as in April, there were more series A rounds than any other, with 9 taking place in total. However, the largest amount of money was actually raised from series C investments, whereby $704 million was raised from only seven rounds, compared to the $358 million raised from series A financings.

Month-to-month comparison of biotech investments

Below is a graph showing a month-to-month comparison of private biotech fundraising. We have included the total number of funding rounds, as well as the total amount of money raised per month. 

As you can see, although May saw the same amount of fundraising rounds (35) take place as in April, less money was raised overall from these rounds, as $3.1 billion was accumulated in April, but only $2.4 billion was raised by companies around the world last month.