3B biopharma startup database


This dashboard covers biopharma VC, IPO and M&A trends. This database also powers a searchable list of recently funded biopharma startups and an overview of the top biotech VCs.


Topline data

VC funding, YTD 2019

$0.0B

Latest deal: March 2019

IPO proceeds, YTD 2019

$0.0B

Latest deal: March 2019

M&A total consideration, YTD 2019

$0.0B

Latest deal: March 2019

The database is updated several times per week. We periodically publish deep dives on startup valuation, venture returns, funding trends and more on our blog. Sign up for our newsletter to receive updates.



2019 venture funding tracking 25%+ lower than 2018



Source for 2013-2017 data: Evaluate Ltd. Vantage 2019 Preview



Venture round sizes remain high



Most Series A rounds are between $10-70M, but there is a long tail of "megarounds": 15 companies raised Series A rounds of $100M or more

25% of Series C rounds are $50-60M. Another 25% are over $100M

The average post-money valuation of Series A companies is $79M. More info on venture-stage valuations here.

Valuations of 150+ biopharma VC rounds

Access detailed financial profiles of 75+ biopharma startups that went public in 2018 and 2019, including estimated private-round valuations.

US-based biotech VCs and Chinese investors dominate, though Chinese funding of US companies declining



US-based specialist biotech VCs dominate Series A investing, but Chinese investors dominate Series B investing

Generalist tech VCs have increased their investment levels to that of pharma corporate VCs, but they still make up a small amount of overall funding

In 2018, Chinese investors were the biggest leaders of Series B investments into US biopharma companies. Due to recent trade tensions between the US and China, thus far in 2019 Chinese investment in US biotech startups has dropped to nearly zero. More on that here.





Few active lead investors



Only 8 investors have led more than 5 Series A deals since January 2018

Many of these Series A investors create many of the companies they fund in-house

These investors are generating outsized returns. Series A investments in companies that IPO return an average of 10.8x, with on average 3.5 years from Series A to IPO. More on returns here.



Oncology and rare disease declining, neuro and autoimmune rising



Oncology represents about a quarter of venture-funded programs from 2018-Q1 2019

Neuro and autoimmune represent more Series A-funded programs than rare disease

These charts represent the therapeutic areas of all companies receiving funding. Many companies have programs in multiple therapeutic areas




Series A investment trends can inform what kinds of companies will get funded in future rounds

Oncology makes up a lower percentage of Series A-funded programs than rare disease, autoimmune and neuro combined, though oncology is still the single most funded therapeutic area

Q2 2019 represents investments to date as the quarter is not yet over

2019 YTD IPO activity higher than 2018 through Q1, but too early to tell if this will continue



Major VC-backed biopharma IPOs (those that raised over $50M in IPO proceeds)* in Q1 2019 were on pace with Q1 2018 levels

However, Q1 2018 was relatively quiet compared to the rest of the year. If 2019 does not see a similar spike in IPO activity, 2019 will see significantly less IPO activity than 2018

* Q1 2019 IPOs excludes Stealth Therapeutics as it was majority controlled by a single investor







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Our database contains additional detailed data on startups, IPOs and M&A activity. To learn more, contact us.