Sectors · Healthcare & Life Sciences

Pharma

Private financing across Pharma, aggregated from public sources.

Pharma is a subsector of Healthcare & Life Sciences. Zoom out to read the whole macro sector $400.1B raised across 15,264 companies.

$8.8B
Capital raised
310
Companies
521
Rounds
2009
First on record
2026-03-05
Latest round

Cooling Pharma drew $359.9M over the last 12 months, down 58% versus the prior 12 ($853.0M). Of 251 companies rankable against same-niche peers, 22% model over-valued and 26% under-valued.

Capital flow over time

Quarterly capital raised across Pharma.

2009-Q2 · $3.0M2009-Q22009-Q4 · $4.6M2010-Q1 · $21.4M2010-Q2 · $14.3M2010-Q4 · $13.8M2011-Q2 · $325K2011-Q3 · $8.9M2011-Q32011-Q4 · $2.2M2012-Q1 · $35.4M2012-Q2 · $5.3M2012-Q4 · $11.7M2013-Q1 · $3.3M2013-Q2 · $8.0M2013-Q22013-Q4 · $9.0M2014-Q1 · $245K2014-Q2 · $16.3M2014-Q3 · $29.1M2014-Q4 · $9.9M2015-Q1 · $84.3M2015-Q12015-Q2 · $10.6M2015-Q3 · $103.7M2015-Q4 · $29.0M2016-Q1 · $26.2M2016-Q2 · $28.3M2016-Q3 · $22.0M2016-Q32016-Q4 · $195.6M2017-Q1 · $37.4M2017-Q2 · $67.2M2017-Q3 · $108.2M2017-Q4 · $85.6M2018-Q1 · $716.5M2018-Q12018-Q2 · $172.3M2018-Q3 · $26.5M2018-Q4 · $259.8M2019-Q1 · $211.3M2019-Q2 · $157.2M2019-Q3 · $214.8M2019-Q32019-Q4 · $99.7M2020-Q1 · $368.8M2020-Q2 · $488.6M2020-Q3 · $74.6M2020-Q4 · $254.2M2021-Q1 · $588.9M2021-Q12021-Q2 · $347.5M2021-Q3 · $246.4M2021-Q4 · $250.6M2022-Q1 · $139.3M2022-Q2 · $170.1M2022-Q3 · $106.3M2022-Q32022-Q4 · $73.6M2023-Q1 · $17.6M2023-Q2 · $108.4M2023-Q3 · $17.3M2023-Q4 · $253.0M2024-Q1 · $572.2M2024-Q12024-Q2 · $667.2M2024-Q3 · $353.7M2024-Q4 · $52.3M2025-Q1 · $295.6M2025-Q2 · $151.4M2025-Q3 · $234.6M2025-Q32025-Q4 · $79.1M2026-Q1 · $46.2M
Median round size by stage
StageMedian roundRounds
Growth/Late$617.0M1
Series D+$125.0M25
Series C$49.7M44
Series B$19.0M68
Series A$6.7M145
Seed$1.9M123
Pre-Seed$307K115
Top-funded companies
CompanyStageRaisedModeled value
Osteon Holdings, Inc.
FORT WORTH
Growth/Late$617.0M$22.4B
Pyxis Oncology, Inc.
Cambridge
Series D+$194.5M$5.0B
Century Therapeutics, Inc.
Philadelphia
Series D+$160.0M$4.7B
iTeos Therapeutics, Inc.
CAMBRIDGE
Series D+$125.4M$4.4B
SpringWorks Therapeutics, Inc.
STAMFORD
Series D+$125.0M$4.4B
Nurix Therapeutics, Inc.
SAN FRANCISCO
Series D+$144.7M$4.2B
Pear Therapeutics, Inc.
BOSTON
Series D+$254.8M$4.1B
Mirador Therapeutics, Inc.
San Diego
Series D+$413.0M$4.0B
Vor Biopharma Inc.
CAMBRIDGE
Series D+$110.1M$3.9B
Ansun Biopharma, Inc.
SAN DIEGO
Series C$195.1M$3.5B
Aimmune Therapeutics, Inc.
BRISBANE
Series D+$334.7M$3.5B
Scribe Therapeutics, Inc.
ALAMEDA
Series D+$100.0M$2.9B
Integrated Oncology Network Holdco, LLC
EVANSTON
Series C$69.9M$2.5B
Autolus Therapeutics plc
London
Series D+$200.0M$2.4B
Tallac Therapeutics, Inc.
BURLINGAME
Series C$61.6M$2.2B
Compass Therapeutics, Inc.
CAMBRIDGE
Series D+$255.8M$2.1B
Candid Therapeutics, Inc.
SAN DIEGO
Series D+$206.2M$2.1B
Bluejay Therapeutics, Inc.
SAN MATEO
Series D+$221.7M$2.1B
Elevation Oncology, Inc.
NEW YORK
Series C$70.5M$2.0B
Prevail Therapeutics Inc.
NEW YORK
Series C$57.0M$2.0B
Related sectors

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Frequently asked
How much venture funding has the Pharma sector raised?
Companies in Pharma have raised approximately $8.8B across 521 recorded financing rounds among 310 companies, aggregated from public sources.
Is Pharma venture funding growing?
Pharma funding is currently cooling: capital raised over the last 12 months was down 58% versus the prior 12 months.
What is the typical round size in Pharma?
Median disclosed round sizes in Pharma by stage are: Growth/Late $617.0M, Series D+ $125.0M, Series C $49.7M, Series B $19.0M. These are medians across recorded rounds, not averages.
Which are the most-funded Pharma companies?
The most-funded Pharma companies in our coverage include Osteon Holdings, Inc., Pyxis Oncology, Inc., Century Therapeutics, Inc., iTeos Therapeutics, Inc., SpringWorks Therapeutics, Inc.. See the full ranked table for disclosed capital and modeled valuations.
When did Pharma funding activity begin in this data?
The earliest recorded Pharma financing in our coverage dates to 2009, with the most recent round around 2026-03-05.
Pharma venture funding — $8.8B raised · Provath