Funding in the pharmaceutical and healthcare sector dropped significantly in June 2024 compared to May 2024, according to a report by Tracxn based on the pharma tracker for June 1, 2024 – June 30, 2024. Total funding reached $120 million, a 57.6 per cent decrease from the $238 million raised in May 2024. However, despite the month-over-month decline, the June 2024 figure represents a 12.2 per cent increase year-over-year compared to the $107 million raised in June 2023.
The report also revealed a shift in investment focus during June. Early-stage funding rounds captured the majority of investment activity, accounting for 56 per cent of the total. Private equity (PE) deals followed closely behind at 41.7 per cent, while seed-stage rounds captured a minimal 2.3 per cent share. Notably, there were no late-stage funding rounds completed in June 2024.
Sabine Hospital, Futura Surgicare, and Foxtale reported the biggest funding rounds of June 2024. Merck Global Health Innovation Fund, Panthera, and Creaegis were the most active investors during the month.