The number of investments that venture capitalists will make this year in pharmaceutical and biotech companies is on pace to match last year’s record—and that money continues to shift into earlier-stage deals.
Venture firms invested in 609 drug development deals as of Sept. 30, 2019, compared with 808 deals for all last year, according to the latest data from firms that track VC investments.
Since 2016, more than half of the money invested in pharma and biotech each year has been in the riskier angel, seed, Series A, and Series B stages, according to the latest Venture Monitor, a quarterly report published by Pitchbook and the National Venture Capital Association.