The biggest biotech funding rounds in March 2025

The companies Isomorphic Labs, DBV Technologies, and Genfit bagged the biggest biotech funding rounds overall in March 2025 across private and public funding types. In this article, we break down last month’s private and public fundraising activity, looking at the largest rounds in more detail.

Private biotech funding rounds in March 2025

First, let’s take a look at the private biotech investments in March 2025, breaking them down by value, location, funding type, and therapeutic subsector.

Biggest private biotech funding rounds by value

In March 2025, drug discovery company Isomorphic Labs raised the largest amount of money, bringing in a whopping $600 million in its first external funding round. The investment from this will help the company to accelerate its frontier artificial intelligence (AI) research and development (R&D) so that it can rapidly advance its next-generation AI drug design engine. 

The company that raised the second largest amount last month was Genfit, as it bagged $200 million in a non-dilutive royalty financing agreement with HealthCare Royalty. This funding will be pivotal in enabling Genfit to fund its operating expenses and capital expenditure requirements beyond the end of 2027. 

Meanwhile, in third place, oncology company Callio Therapeutics launched last month with $187 million in series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload antibody-drug conjugate (ADC) program, as well as a second undisclosed ADC program.

Private biotech funding rounds by location

Last month saw North America come first in terms of the number of fundraising rounds and the total amount raised from those rounds – companies in the region brought in more than $1.2 billion from 14 rounds. Meanwhile, Europe wasn’t too far behind, bringing home just over $1 billion from six rounds, but, unfortunately, Asia-Pacific didn’t see any major fundraising rounds.

Private biotech funding rounds by funding type

In March 2025, there were more series B rounds than any other type, with six rounds in total, from which $556 million was raised. However, the largest amount raised actually came under the “undisclosed” category, largely thanks to Isomorphic Labs’ $600 million round, which the company only disclosed as being its first “external” funding round.

Private biotech funding rounds by therapeutic subsector

When filtering the funding rounds last month by therapeutic subsector, we can see that both neurological conditions and oncology attracted the most rounds, with four each. But there was a big difference in the amount raised from those rounds, as oncology-focused companies brought in $392.6 million between them, and biotechs focused on neurological conditions only brought in $203.8 million. Still, the therapeutic subsector that actually brought in the most money overall was drug discovery, once again down to Isomorphic Labs’ megaround.

Public biotech funding rounds in March 2025

Now, let’s check out the public biotech fundraising rounds that occurred in March 2025, breaking them down by value and therapeutic subsector.

Public biotech funding by value

DBV Technologies bagged the largest public fundraising of last month, bringing in a total of $306.9 million to help advance its peanut allergy patch through Biologics License Application submission and U.S. commercial launch if it is approved.

Meanwhile, Mineralys Therapeutics and Surrozen came joint-second as they both raised $175 million. Mineralys’ funding came from a public offering, and Surrozen’s came from a private placement.

Public biotech funding by therapeutic subsector

Companies working within the therapeutic subsectors of oncology and ophthalmology attracted the most rounds last month, with three each. However, there was a huge gap between the two subsectors when it came to the total amount raised, as oncology-focused companies only brought home $22 million between them compared to the $321.5 million raised by ophthalmology companies.

Month-to-month comparison of biotech fundraising

Below is a graph showing a month-to-month comparison of private and public biotech fundraising, looking at the total amount of money raised per month in 2025. 

We can see from the graph that last month was the second-best month of the year so far for both private and public biotech fundraising. However, it was still significantly lower than January, in which private fundraising totalled just over $3 billion and public fundraising totalled just over $1.5 billion.