We analyzed biotech funding data on our online BiopharmIQ platform to identify companies that had early-stage (Angel/Pre-Seed, Seed, Series A round) biotech funding events in the 1st half of 2024. To identify biotech funding events, every workday, our team uses a combination of automated and manual systems. With respect to countries with the most companies with $1M+ early-stage funding events in the 1st half of 2024 (FIG. 1), not surprisingly the U.S. (84 companies) was at the top of the list for these types of funding events that were captured by our systems.
However, there were some surprises in the data. We were a bit surprised to see the China (19 companies) and UK (16 companies) had almost 1/3 as many companies as the U.S. with $1M+ funding events in the 1st half of 2024. And more surprised that Switzerland (11 companies) came up next on the list.
FIG. 1. Number of biotech companies with $1M+ (U.S. dollars/equivalent) early-stage funding events worldwide in the 1st half of 2024.
With respect to the United States (FIG. 2), not surprisingly when we analyzed the data from our powerful online BiopharmIQ platform, California and Massachusetts led with 25 and 21 companies, respectively, that had a $1M+ early round funding event in the 1st half of 2024. Perhaps more surprising is that New York (9 companies) had 3x companies as Pennsylvania (3 company). Of course, over a longer period of time these surprising nuances likely would correct themselves.
FIG. 2. Number of biotech companies with $1M+ (U.S. dollars/equivalent) early-stage funding events in the U.S. in the 1st half of 2024.
Finally, we analyzed the biotech funding data we downloaded from our powerful online BiopharmIQ platform to categorize the company types of the biotech companies that had a $1M+ early-stage funding event in the 1st half of 2024 (FIG. 3). Not surprisingly, therapeutics companies led the way (112 companies.
FIG. 3. Number of biotech companies with $1M+ (U.S. dollars/equivalent) early-stage funding events by company type in the 1st half of 2024.
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Article History:
MV/RF (8/22/24)
RF (10/8/24) - Data update
Not legal, investing, or tax advice.
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