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Q4 2023
Biopharma Report
March 4, 2024
This report was reuploaded on May 6, 2024, to fix a typo on page 5.
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Biopharma investors focus on quality over quantity
Despite a 19% quarter-over-quarter decline in deal value in Q4, investor enthusiasm for the biopharma industry is holding strong, particularly for companies integrating AI into drug discovery and those developing weight loss drugs.
Meanwhile, a steady flow of exits returned $18.3 billion to VCs in 2023, the result of an increasingly selective investment approach driven by strong clinical data and recalibrating technology platform investment interest, writes Senior Analyst Kazi Helal.
Our latest Emerging Tech Research unpacks recent VC trends across the biopharma industry, spotlights key players, and highlights emerging opportunities in molecular glue degraders, epigenetic editing, and macrocyclic peptides.
Table of contents
Fill out the form to download a preview of this report. The full report is available through the PitchBook Platform.
Biopharma investors focus on quality over quantity
Despite a 19% quarter-over-quarter decline in deal value in Q4, investor enthusiasm for the biopharma industry is holding strong, particularly for companies integrating AI into drug discovery and those developing weight loss drugs.
Meanwhile, a steady flow of exits returned $18.3 billion to VCs in 2023, the result of an increasingly selective investment approach driven by strong clinical data and recalibrating technology platform investment interest, writes Senior Analyst Kazi Helal.
Our latest Emerging Tech Research unpacks recent VC trends across the biopharma industry, spotlights key players, and highlights emerging opportunities in molecular glue degraders, epigenetic editing, and macrocyclic peptides.
Table of contents
| Vertical update | 3 |
| Q4 2023 timeline | 5 |
| Biopharma landscape | 6 |
| Biopharma VC ecosystem market map | 7 |
| VC activity | 9 |
| Emerging opportunities | 18 |
| Molecular glue degraders | 19 |
| Epigenetic editing | 20 |
| Macrocyclic peptides | 21 |
| Select company highlights | 22 |
| Nimbus Therapeutics | 23 |
| Generate:Biomedicines | 26 |
| BioAge Labs | 28 |