March 2025 Life Sciences Update

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Uptick in 2024 Global Funding Levels

CONTENTS

Venture Capital

Public Offerings

• Global VC funding rose 4% YOY in 2024. This was still below the recent cyclical high, but 6% higher than the 10-year average — a sign of renewed investor confidence. Europe and North America saw deal volume increase in 2024, with European VC deals totaling $8.6 billion (+19% YOY) and North America totaling $31.5 billion (+17% YOY). APAC saw VC deal volume decline, with 2024 totaling $5.2 billion (-45% YOY). • While the initial public offerings (IPO) sector remains subdued, 2024 saw a slight uptick with offerings totaling $11.6 billion (+22% YOY). European IPO activity surged to $2.8 billion (+3,000% YOY). Both North America and APAC saw slower IPO activity in 2024, with North America deal volume at $4.4 billion (-10% YOY) and APAC at $2.4 billion (-4% YOY). • With investor optimism rising for 2025, funding levels may exceed 2024 levels. Venture capital is vital to the life sciences sector. As companies are funded from startup to later-stage funding rounds, they can put capital to work by increasing headcount and expanding their footprints.

North America Europe APAC

$40

$100

$90

$35

$80

$30

$70

$25

$60

$20

$50

$40

Billions USD

$15

$30

$10

$20

$10

2017

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2015

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2016

2019

2014

2022

2023

2024

2020