Healthcare and Life Sciences Q1 2023 Review: Venture Capital

by May 1, 2023Analysis, Funding

Venture capital investment activity in Q1 2023 was down across multiple industries, including biopharma. Biopharma venture fundraising looked much like 2022, which looked much like 2019. As before, biopharma fared slightly better than medtech, diagnostics, tools, and digital therapeutics investments. There was $7.4 billion in venture capital investment deployed in Q1 2023 across all healthcare and life sciences subsectors with biopharma therapeutics and discovery platforms seeing $3.6 billion of that. Inside is a detailed look at the numbers with a focus on biopharma..

Venture Capitalists Prepared To Fuel Innovation in Q1 of 2023

Venture Totals - Healthcare and Life Sciences by Subsector $B

$7.4 billion in total healthcare and life sciences venture funding across 248 rounds, which is pretty much the same as in Q4 of 2022 regarding financing, whereas the number of rounds has increased by 3. Almost the same trend was witnessed in all the subsectors. Biopharma therapeutics and platforms brought in a significant portion of funding.

Venture Totals - Healthcare and Life Sciences by Subsector $B

VC Funding in Q1 2023
  • GenScript ProBio secured almost $220 million in a Series C funding round that Legend Capital spearheaded on January 17, 2023. This marks China’s most significant fundraising event around contract development and manufacturing organizations (CDMOs) since the second half of 2022. Several other healthcare investment firms also joined the round. GenScript Biotech Corporation, the parent company, also contributed approximately $30 million to the fundraising effort.
  • In March 2023, Chroma Medicine, headquartered in Cambridge, secured $135M in Series B funding with GV as the lead investor, alongside new and existing investors. The company plans to utilize the funds to progress its epigenetic editing therapies and broaden its genetic medicine platform.

20,378

Licensing Deals

17,730

Funding Rounds

4,034

M&A

31,012

Company Profiles

5,478

Other Deals

26,505

Drug Sales Figures

All of this by stage, disease indication, modality, target...

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