If you want a quick read on where venture dollars actually landed in biotech in 2025, big rounds are the cleanest signal. This report tracks pharma/biotech VC financings ≥$30M and summarizes size, stage, geography, valuations, and investor activity.
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Quick stats (2025, ≥$30M rounds)
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Deals
340
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Total capital
$29.7B
|
Median round
$60M
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Average round
$93M
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Source: PitchBook + BioBucks analysis. Cut includes financings ≥$30M only.
What this dataset is really saying
- Capital was concentrated. Most rounds clustered in the $30–$99M band, but $100M+ rounds drove a disproportionate share of total dollars.
- Later-stage dominated. In a ≥$30M cut, later-stage VC naturally shows up more often than seed.
- The US remained the center of gravity by both count and disclosed capital.
- Q4 accelerated. Deal activity and disclosed dollars peaked late in the year.
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