Data Report
State of Biotech Funding — All-Time
Tracked funding for Biotech companies across all years — totals, largest rounds, stage mix, and recent quarterly trends.
Report generated October 2026 · Figures in USD
Funding totals and round counts include only positive known USD amounts. Company and stage counts also include rounds without a known USD amount.
$367.5B
Funding with USD Amounts
9,313
Rounds with USD Amounts
4,303
Companies with Funding Events
$5.0B
Largest Round
Funding Trend
Funding with known USD amounts per quarter. The current quarter is still filling in.
Year-only estimates are excluded from quarterly totals. Headline totals may include them.
Peak quarter '25 Q4 at $14.1B. Latest complete quarter (2026Q3): ▼ 48% QoQ · ▼ 32% YoY. Current quarter (QTD) is still filling in.
Largest Rounds
The biggest tracked Biotech funding rounds with known USD amounts. Tap any company for its full profile.
Parexel
Private Equity · United States
$5.0B
Jun 2017
Tiantan Biological / China Biologic (泰邦生物集团)
Private Equity · China
$4.8B
Apr 2021
Pharmaceutical Product Development, Inc. (PPD)
Private Equity · United States
$3.9B
2019 (est.)
Altos Labs
Series A · United States
$3.0B
Jan 2022
Warner Chilcott
Private Equity · United States
$3.0B
2004 (est.)
BeiGene
Corporate Round · United States
$2.8B
Jan 2020
Asymchem
Private Equity · China
$2.3B
Feb 2020
Isomorphic Labs
Series B · United Kingdom
$2.0B
May 2026
Syneos Health
Private Equity · United States
$1.9B
May 2017
Dren Bio
Corporate Round · United States
$1.7B
Dec 2025
Paratek Pharmaceuticals
Venture Round · United States
$1.6B
Unknown
Invitae
Convertible Note · United States
$1.1B
Apr 2021
argenx SE
Growth Equity · Netherlands
$1.1B
Jul 2023
Roivant Sciences
Venture Round · United States
$1.1B
Sep 2018
Syneos Health
Private Equity · United States
$1.1B
May 2010
Rounds by Stage
Most common stages among all eligible funding events, including rounds without a known USD amount.
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Methodology
Figures are aggregated from Indexed's live database of 98,772 company profiles and 22,284 investors. Company totals include publicly listed and inactive businesses. Company funding totals and individual event tables have different coverage; each report states its population and period. Amounts are shown in USD where available, and undisclosed amounts are excluded from dollar totals. Source coverage varies by record; follow company and event links to inspect supporting evidence. Report generated October 2026. Free to cite with attribution to Indexed.
Totals include recorded grants and other qualifying funding, not just equity. Debt financing, IPO proceeds and exit consideration are excluded from these funding totals. Valuations are company values, not capital raised. How funding is counted.