Life Sciences Funding in View: 2025 Outlook

U.S. Funding by Deal Type

Funding by Deal Type

Average Deal Size by Type

$60

$40

$34

$36

$36

$50

$35

$32

$33

$30

$40

$28

$28

$28

$27 $24

$25

$24

$30

$20

$16

$18

$16

$15 $Millions

$20 $Billions

$14

$10

$21

$10

$16

$14

$12

$5

$10

$0

$0

2020 2021

2022

2023

2024

2020 2021

2022

2023

2024

Accelerator/ Incubator

Angel

Accelerator/ Incubator

Angel

Seed

Early Stage VC

Seed

Early Stage VC

Later Stage VC

Grants

Later Stage VC

Grants

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 2025