Private drug developers raised a record $8.5bn in the first half of 2018, amid a surge in mega rounds.
Cell and gene therapy companies dominate the first quarter, but companies outside these fashionable areas are finding it harder to charm VCs.
In terms of venture financing, activity in 2017 outpaced that at the height of the biotech boom in 2015, with 68 biotechs attracted rounds of $50m or more.
In a truly extraordinary year, the top 10 venture rounds made up more than half of the total invested.
Vast amounts of venture cash are available to medical device makers, but its distribution is uneven.
The biggest-ever healthcare VC round has reshaped the biotech venture landscape.
Eagerly pursuing all the latest fads and trends.
Oncology is king when corporate VCs decide where to put their cash – but medtech is surprisingly popular too.
The trend for VCs to pile in to bigger, later rounds might just be weakening.