Biopharma firms amassed a total of $47.07 billion in the first quarter of 2024, the second-highest quarter recorded by BioWorld since 2011, trailing only behind $48.18 billion raised in 2Q20. This robust fundraising was driven by exceptional performances in IPOs, follow-ons and public/other financings, as well as sustained trends in venture capital raises. The amount marks a 118% increase from $21.62 billion raised in the fourth quarter of 2023 and a 257% rise from 1Q23’s $13.19 billion.