Med-tech companies raised a total of $1.7 billion in financings in June, a decrease of 21.64% compared to the same month last year. Volume of med-tech financings are also down: 30 in June 2023 compared to 41 in June 2022. Numbers are down significantly from the 56 financings worth $4.45 billion in June 2021, 76 financings worth $5.27 billion in June 2020, and 47 worth $2.08 billion in June 2019.
In June 2023, biopharmas collectively raised $6.82 billion through 109 financing transactions. The amount raised is 32.95% more than last June’s $5.13 billion, and the number of transactions is up 26.74%, compared to 86 in June 2022. This echoes the 23.34% increase seen in financings in the first half of 2023 compared to last year.
Although biopharma investors pulled back in 2022 – largely a response to freely flowing funds the previous two years during COVID-19 surges – they are cautiously returning to the sector, as the industry has raised $32.8 billion in the first half of 2023, a 23.6% jump over the same period last year.