Life Sciences Funding in View & 2024 Outlook

U.S. Funding by Deal Type and Industry

U.S. Funding by Deal Type

U.S. Funding by Top 10 Industries, in $Billions

$60

2023

$12

$6

$3

$50

$40

2022

$16

$11

$3

$23

$30

$16

$18

2021

$25

$10

$5

$20 $Billions

$14

$21

$10

$17

2020

$17

$10

$3

$14

$10

$0

0% 20% 40% 60% 80% 100%

2020

2021

2022

2023

Accelerator/ Incubator

Angel

Drug Discovery

Biotechnology

Other

Seed

Early Stage VC

Therapeutic Devices

Discovery Tools

OH Technology Systems2

Decision Risk Analysis

Drug Delivery

Diagnostic Equipment

Later Stage VC

Grants

Pharmaceuticals

Laboratory Services1

Source: PitchBook Data, Inc.; *Data has not been reviewed by PitchBook analysts 1. Healthcare Laboratory Services; 2. Other Healthcare Technology Systems

9 / CUSHMAN & WAKEFIELD

LIFE SCIENCES JANUARY 2024