Series A companies: Biotech’s class of 2025

After four years of declining series A activity, 2025 brought stabilization in the number of biotechs able to raise start-up capital, with aggregate dollars increasing from 2024. The numbers are the latest sign that revitalization of biotech is real, with private company funding echoing the energy around the public markets.

BioCentury analyzed the distribution of series A round sizes, the investors behind the financings, and the strategic partners these companies attracted...