Venture investment in biopharma and medtech companies ended 2024 with strong performance, as total investment amounts in both sectors outpaced 2023 despite fewer rounds. Biopharma saw $26 billion invested across 416 rounds, while medtech reached $19.1 billion through 691 rounds.
The total amount of capital invested in biopharma therapeutics and discovery platforms finished strong in the fourth quarter of 2024, with Q4 venture activity reaching $5.2 billion. Medtech followed a similar trajectory with $3 billion raised in Q4, contributing to a 12% year-over-year increase in total funding.
M&A activity showed contrasting trends across sectors in 2024, with medtech seeing a surge to 305 deals totaling $63.1 billion, while biopharma M&A reached its lowest levels since early 2022 with 18 transactions totaling $5.9 billion.
J.P. Morgan’s biopharma therapeutics and medtech licensing reports explore the movement in each sector, offering insight into industry and investment trends that defined the fourth quarter of 2024 and will shape the start of 2025. The reports, powered by DealForma, highlight:
- Venture investment trends and deal values
- Licensing partnerships and R&D collaboration metrics
- M&A activity and transaction patterns
- IPO market performance and capital raised
- Investment focus areas in advanced therapies and technologies
Download these reports to gain deeper insights into current dealmaking trends, and connect with our Startup Banking experts to learn more.
Contributors
Kathryn McDonough
Head of Life Sciences, Innovation Economy, Commercial Banking, J.P. Morgan
Skip Kelly
Head of Healthcare VC Coverage, Commercial Banking, J.P. Morgan
