10 of the Largest Financing Rounds in 2024

As the life sciences sector continues to thrive, 2024 has seen substantial financing activity, with significant capital raised across biotech, pharma, and medtech companies. This year’s largest financing rounds highlight the industry’s focus on innovation, expansion, and addressing unmet medical needs. Below is a breakdown of 10 of the largest financing rounds of 2024 based on data from Biotechgate, showcasing the companies that secured the most substantial funding.

10. Moderna, Inc.

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Type: Post-IPO

Date: March 2024

Amount raised: USD 750 million

Moderna, Inc. (Nasdaq: MRNA), a biotechnology company renowned for its pioneering work in mRNA-based therapeutics and vaccines, successfully raised USD 750 million in a post-IPO financing round in March 2024. The funds are earmarked to support the expansion of Moderna’s vaccine pipeline, including ongoing development of its next-generation COVID-19 vaccines and other infectious disease programs. This capital will also bolster the company’s efforts in advancing its mRNA technology platform and scaling manufacturing capabilities to meet global demand.

9. Jazz Pharmaceuticals PLC

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Type: Post-IPO

Date: September 2024

Amount raised: USD 850 million

Jazz Pharmaceuticals PLC, raised USD 850 million in a post-IPO financing round in September 2024. The funds are intended to support the company’s ongoing research and development initiatives, including the expansion of its oncology and neuroscience portfolios. This financing round also aims to enhance Jazz Pharmaceuticals’ capacity to invest in innovative therapies and strategic acquisitions to strengthen its position in the competitive biopharmaceutical landscape.

8. Vaxcyte, Inc.

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Type: Post-IPO

Date: February 2024

Amount raised: USD 862.5 million

In February, Vaxcyte, Inc., a clinical-stage biotechnology company dedicated to developing innovative vaccines to prevent bacterial infections, successfully raised USD 862.5 million in a post-IPO financing round. The company plans to use the proceeds to advance the clinical development of its lead vaccine candidates and to expand its pipeline of next-generation vaccines. This financing round underscores the strong investor confidence in Vaxcyte’s cutting-edge technology platform and its potential to address significant unmet medical needs in infectious diseases.

7. Revolution Medicines, Inc.

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Type: Post-IPO

Date: December 2024

Amount raised: USD 862.5 million

Revolution Medicines, Inc., a clinical-stage oncology company focused on developing targeted therapies to treat RAS-addicted cancers, raised USD 862.5 million in a post-IPO financing round in December 2024. This substantial funding will support the advancement of the company’s pipeline, particularly its RAS inhibitor programs, as well as other strategic initiatives aimed at broadening its impact in the oncology field. The successful raise highlights the market’s confidence in Revolution Medicines’ innovative approach to tackling challenging cancer targets.

6. Zealand Pharma A/S

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Type: Post-IPO

Date: June 2024

Amount raised: USD 900 million

Zealand Pharma A/S, a biotechnology company specializing in the discovery and development of peptide-based medicines, secured USD 900 million in a post-IPO funding round in June 2024. The funds are intended to accelerate the development of its pipeline, which focuses on innovative treatments for metabolic and gastrointestinal diseases. This capital injection will also support the company’s commercial expansion efforts, ensuring that its therapies reach broader markets. The significant raise underscores investor confidence in Zealand Pharma’s approach and the potential of its therapeutic candidates.

5. Xaira Therapeutics

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Type: Private Equity

Date: April 2024

Amount raised: USD 1 billion

Xaira Therapeutics, an integrated AI biotechnology company, launched with more than $1 billion of committed capital. Backers included ARCH Venture Partners and Foresite Capital, F-Prime, NEA, Sequoia Capital, Lux Capital, Lightspeed Venture Partners, Menlo Ventures, Two Sigma Ventures, the Parker Institute for Cancer Immunotherapy (PICI), Byers Capital, Rsquared, and SV Angel, among others. The company aims to use this capital to accelerate clinical trials, expand its research capabilities, and advance its portfolio of innovative therapies.

4. Vaxcyte, Inc.

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Type: Post-IPO

Date: September 2024

Amount raised: USD 1.5 billion

Vaxcyte, Inc. (Nasdaq: PCVX) is a clinical-stage biotechnology company focused on developing high-fidelity vaccines aimed at combating bacterial diseases. In September 2024, the company successfully raised $1.5 billion in a post-IPO financing round. Vaxcyte is known for leveraging innovative technologies to engineer vaccines with the potential to address unmet medical needs in preventing serious bacterial infections. The substantial capital raised will likely support the advancement of its pipeline and the development of next-generation vaccines.

3. Cencora, Inc.

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Type: Post-IPO

Date: August 2024

Amount raised: USD 1.8 billion

Cencora, Inc., a leader in healthcare solutions and pharmaceutical services, raised $1.8 billion in a post-IPO round in August 2024. The funding is aimed at enhancing the company’s global distribution network and investing in advanced data analytics to optimize supply chain efficiencies. Cencora plans to leverage these resources to expand its footprint in emerging markets and further develop innovative healthcare delivery models, reinforcing its position as a key player in the life sciences ecosystem.

2. RLDatix

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Type: Debt financing

Date: February 2024

Amount raised: USD 2 billion

RLDatix, a global leader in healthcare safety and risk management software, secured a $2 billion private credit loan in February 2024, led by Blue Owl Capital. This significant financing aims to accelerate the company’s growth and innovation in developing solutions that improve patient safety and streamline healthcare operations. RLDatix plans to utilize these funds to enhance its product offerings, expand its market reach, and drive the adoption of its advanced risk management technologies across healthcare systems worldwide.

1. Galderma SA

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Type: IPO

Date: March 2024

Amount raised: USD 2.6 billion

In March 2024, Galderma SA, a prominent player in the dermatology sector, successfully launched its initial public offering (IPO) on the SIX Swiss Exchange. Galderma’s IPO was one of the largest in Europe for 2024, underscoring the strength and appeal of the life sciences sector. Proceeds from the IPO are expected to support Galderma’s strategic growth initiatives and further expansion in global dermatology markets.