Private biotech rebounds with 46% growth in venture funding during 1st-qtr of 2024
The private biotech sector witnessed a 46% increase in total venture financing deal value in the first quarter of 2024 compared to the fourth quarter of 2023.
This uptick signals progress towards recovery in venture financing as investor confidence improves, according to pharma analytics company GlobalData.
Private biotech venture financing saw a downturn during 2022 and 2023, influenced by macroeconomic challenges such as high interest rates and inflation, which led to increased investor caution. Nonetheless, investor optimism has increased in anticipation of lower interest rates and reduced inflation this year, which would lower the cost of capital.
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