European biotechs raised $6B in venture in 2024

European biotech companies raised $6 billion in venture funds in 2024, 19% of the $31.3 raised globally. The region’s total grew from $4.6 billion in 2023, which represented 17% of that year’s total, and nearly matched the $6.1 billion raised in 2020.

Chinese biotech financings, by contrast, fell for the third year in row. China-based companies raised $2.1 billion in venture in 2024, down from $3.6 billion in 2023, corresponding to 7% and 12% of the global totals in those years. Overall, companies in Asia-Pacific raised $2.5 billion in 2024, down from $4 billion in 2023. Only two venture rounds crossed the $100 million mark in China, compared with 14 in Europe, three in Canada and 80 in the U.S...