Largest private biotech investment as of June 2023


Companies Upstream Bio, Alkeus Pharmaceuticals and Worg Pharmaceuticals pocketed the largest biotech investments in June 2023, with oncology and ophthalmology players in particular attracting the most funding rounds.

Overall, more funding rounds occurred in June 2023 than in May, and the US health sector has once again attracted a very large round.

We’ve rounded up the largest biotech investments going into private companies around the world in June. The fundraising company has been split into verticals focused on the healthcare and biotechnology industries.

Health investment in June 2023

The top private biotechnology healthcare investment in the US went to Upstream Bio, which pocketed $200 million in a Series B round. The funding will allow the company to advance UPB-101 – a monoclonal antibody for allergic and inflammatory diseases – to the next stage of clinical development.

Meanwhile, in Europe, Italy-based company AAVantgarde Bio took home the largest investment, raising $65.1 million in series A funding. This will help the company advance two AAV-based large gene delivery platforms, which are being validated in two major programs to Usher syndrome, Retinitis pigmentosa associated Type 1B, and Stargardt’s disease.

Chinese company Worg Pharmaceuticals topped the list of healthcare biotech investments in the Asia-Pacific region with a $152 million Series C round in June 2023. The company is developing immunotherapies for allergic and autoimmune diseases.

More life science investments in June 2023

Beyond the health sector, there were also several biotech companies this month increasing investment to advance technology such as biomaterials and food.

In this space, the largest US investment round went to Ecovative Design, which pocketed $30 million in a series E round. The company grows a comprehensive and sustainable material using mushroom mycelium.

Cultured meat company Rare has topped Europe’s non-healthcare biotech rankings this month, raising $30 million in a series A round. The company’s main focus now is developing laboratory-grown pork products.

The Asia-Pacific region didn’t see too many investment deals this month outside of healthcare. One notable round of funding went to Chinese company CellX, which raised $6.5 million in a series A round to launch a pilot-scale facility and start production of cultured meat products.

July highlight

Only a few funding rounds have been conducted so far as of July 2023, with the most significant investment going to Chinese firm Sinotau. The company generated an impressive $151.8 million to advance R&D and clinical trials for its radiopharmaceutical pipeline.


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