The gloomy climate for biotech is now taking its toll on private companies too.
But how long can the money keep rolling in?
How long can it be before the total breaches $10bn?
While biotech indices fell, 2021 saw private companies raise the largest amount of venture capital ever.
Private drug developers have already raised more money this year than in 2020.
Private device makers enjoy the biggest quarter for four years – and the average deal is larger than ever.
Biopharma scores a $5bn quarter as another big year builds for venture financing.
Find out where the venture money has been flowing in our new report on biopharma investment trends, free to download now.
A sudden increase in seed and series A funding bodes well for the year ahead.