We used our our online biopharmIQ platform to analyze 2024 data (through September 9) on newly formed biotech companies and biotech companies that newly emerged from stealth mode. Every workday our online platform is updated by our team who scour the Internet to identify new/newly emerging biotech companies using a combination of automated and manual systems. The companies we identified were significant entities: All of the 70 companies that reported their initial funding amount (61/70 companies), raised at least $460,000. Of these new/newly emerging companies, 60 of 70 were therapeutics companies. Thus, our current systems and methods are likely considerably biased towards biopharma versus other types of biotech companies, including diagnostics companies.
Not surprisingly 54 of 70 new/newly emerging biotech companies thus far in 2024 that our team identified, were U.S.-based companies (FIG. 1). Also not surprisingly, California and Massachusetts led the way with 18 and 13 companies respectively. A bit surprising was that next on the list was New York with 6, Washington with 4, Pennsylvania, New Jersey, and Delaware coming in at 3 new/newly forming companies each. It is likely that a number of these companies, especially those with initial headquarters locations in Delaware and possibly New York too, will have the bulk of their teams, and possibly even their eventual corporate headquarters, located in one of the biotech hotbed regions such as the San Francisco bay area or Boston.
FIG. 1. Number of new/newly emerging biotech companies by state (2024 thru 9/9/24).
With respect to geography (FIG. 2), after the U.S., the next most common geography was Europe, with 14 new/newly emerging biotech companies in 2024 thru early September. Canada and Israel rounded off the list, with 1 company each. We didn't identify any new/newly emerging biotech companies in Asia. Almost certainly there were many new biotech companies launched in Asia this year. The lack of any Asian companies in our report is likely because these companies are less likely to announce their emergence in a way that is picked up by the various Internet and other sources our team analyzes. Thus, keep in mind that our report is almost certainly highly skewed toward well-funded new/newly emerging biotech companies in the U.S. and Europe.
FIG. 2. Number of new/newly emerging biotech companies by country (2024 thru 9/9/24).
We will continue to identify new/newly emerging biotech companies. In the meantime, you can learn more about these and other recently funded biotech companies by checking out the recent funding data on our online biopharmIQ platform. Want to see our online platform in action? Watch a short demo video of our platform. Get instant access to all our data/modules: Check out our affordable pricing plans, which come with a 30-day satisfaction guarantee.
Have questions or want to schedule an online demo?
Contact marketing@BiopharmIQ.com.
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Article History:
MV/RF/JD 9/12/24
Not legal, investing, or tax advice.
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