Despite a 69.2 per cent month-over-month drop, funding soars nearly 380% YoY, with late-stage investments dominating the scene
As per the data presented by Tracxn.com, funding in the pharmaceutical sectors dropped 69.2 per cent to $261 million in May 2024 from $846 million in April 2024. However, this figure represented a 379.8 per cent increase compared to the $54.4 million raised in May 2023.
A breakdown of the funding sources showed that late-stage investments accounted for 85.5 per cent of the total funding in May. Private equity (PE) followed at 7.7 per cent, with early-stage and seed-stage investments contributing 4.7 per cent and 2.2 per cent, respectively.
Maiva Pharma, NephroPlus, and Orbicular Pharmaceutical secured the largest investments in May. Bessemer Venture Partners, Legacy Assets, and Venture Catalysts were the most active investors during this period.