VCs concentrating bets in fewer biotechs

While the pace of biotech venture deals has slowed to the lowest in at least a decade, average round size has grown this year, according to BioCentury’s analysis 1Q-3Q venture year-over-year. 

The 360 venture financings with disclosed financials in 1Q25-3Q25 represented a 32% drop from the 529 rounds recorded in 1Q17-3Q17, the second slowest year in the last decade, and a 39% drop from last year’s first three quarters. The 2025 number marks the fourth year in a row of falling activity...