Following a slump in August, which posted the lowest med-tech deal values of 2024, September bounced back with the highest monthly total of the year, reaching $356.79 million.

Biopharma financings continued to outperform over the first nine months of 2024, hitting $86.2 billion, a 75% increase from the $49.35 billion raised during the same period in 2023. September alone saw a significant boost from the prior month, with financings more than doubling to $8.7 billion from $3.5 billion in August.

Med-tech fundraising saw strong growth in 2024, with companies raising $21.24 billion in the first three quarters, a 48% increase over the $14.36 billion raised during the same period in 2023. However, September’s total dropped to $982.44 million, down from $3.67 billion in August.

In August 2024, BioWorld tracked 92 clinical trial updates, a decrease from the 121 reported in July. The month included nine successful phase III trials, three with mixed outcomes and three failures.

In August 2024, BioWorld tracked 92 clinical trial updates, a decrease from the 121 reported in July. The month included nine successful phase III trials, three with mixed outcomes and three failures.

As of the end of August 2024, the BioWorld Neurological Diseases Index (BNDI) reported a decline of 8.89%, lagging behind the Nasdaq Biotechnology Index, which gained 11.7%, and the Dow Jones Industrial Average, which rose by 7.05%. While a slight recovery from BNDI’s lowest point this year, in late April when it was down 12.2%, the index had shown modest gains over recent months before slipping again.

August saw the U.S. FDA approve 22 drugs, an increase from July's 17 but fewer than the 28 approved in June. This brings the 2024 monthly average to just over 19 approvals, outpacing last year's average of 16 per month, as well as the 12.5 per month seen in 2022 and 17 per month in both 2021 and 2020.

The med-tech sector maintained its momentum in the second quarter, with total financings climbing 16.5% to $7.47 billion, compared to $6.41 billion in Q1.

Biopharma deal values reached $14.88 billion in August, declining from July’s $20.86 billion but improving over June’s $12.79 billion. With a total of $135.17 billion raised through the first eight months, 2024 continues to hold the record for the highest year-to-date deal value in BioWorld's records.

Med-tech deal values dipped to $1.73 million in August, the lowest monthly total seen in 2024 and a steep drop from July’s $200.88 million.