In 2024, venture capital in biopharma surged to $26 billion, up from $23.3 billion in 2023, despite a decrease in funding rounds. Major investments were concentrated among established biotech firms led by experienced executives, while smaller companies struggled. Notable raises included Xaira Therapeutics’ $1 billion Series A and Treeline Biosciences’ $421.8 million, reflecting a focus on AI and obesity treatments. The sector showed signs of recovery from previous downturns, aided by increased M&A activity and IPOs. Analysts predict continued growth into 2025, driven by lower interest rates and the need for industry innovation amid patent expirations.