State of Biotech Funding 2026

21 active investors and 46 funded companies in Biotech. Most active: Alexandria Venture Investments, ARCH Venture Partners, Wellington Management.

Biotech accounts for 120 tracked companies with verified cap-table data, 120 of which disclose round sizes totalling $58B. The median disclosed raise is $279M, and the largest is Metsera at $10B, ahead of Revolution Medicines ($2.1B) and Kailera Therapeutics ($1.6B).

The names that recur most often on these biotech cap tables are ARCH Venture Partners (14 companies), RA Capital Management (14 companies), OrbiMed (13 companies), Foresite Capital (12 companies), Atlas Venture (10 companies), Fidelity Management & Research Company (9 companies). By latest disclosed round, the market skews Series B (26), Series A (20), Series C (18), Series D (18).

Best funded Biotech companies

  1. Metsera — $10B (latest: IPO)
  2. Revolution Medicines — $2.1B (latest: IPO)
  3. Kailera Therapeutics — $1.6B (latest: IPO)
  4. Neuralink — $1.3B (latest: Series E)
  5. Kriya Therapeutics — $1.2B (latest: Series C)
  6. Treeline Biosciences — $1.1B (latest: Series A)
  7. 23andMe — $1B (latest: IPO)
  8. Beam Therapeutics — $1B (latest: IPO)
  9. Xaira Therapeutics — $1B (latest: Series A)
  10. Oruka Therapeutics — $975M (latest: IPO)
  11. Recursion Pharmaceuticals — $900M (latest: IPO)
  12. ORIC Pharmaceuticals — $900M (latest: IPO)
  13. Generate Biomedicines — $750M (latest: IPO)
  14. Odyssey Therapeutics — $726M (latest: Series D)
  15. Astria Therapeutics — $700M (latest: Growth)

More Biotech research (2)

Research on comparable markets (14)

Sector × city funding reports (20)

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