The most important biotech funding rounds in October 2025

The businesses Kailera Therapeutics, Summit Therapeutics, and Tubulis bagged the largest biotech funding rounds general in October 2025 throughout personal and public funding varieties. On this article, we break down final month’s personal and public fundraising exercise, wanting on the largest rounds in additional element.

Non-public biotech funding rounds in October 2025

First, let’s check out the personal biotech investments in October 2025, breaking them down by worth, location, funding kind, and therapeutic subsector.

Greatest personal biotech funding rounds by worth

Whereas many firms raised spectacular quantities of cash in October 2025, it was Kailera Therapeutics, which exited stealth simply over a 12 months in the past with $400 million, that got here out on prime after bagging one other $600 million in collection B funding in one of many largest personal biotech rounds of the 12 months to this point. The corporate stated it can use the funds to assist the development of its weight problems portfolio, together with a worldwide part 3 trial of lead candidate KAI-9531, an injectable twin GLP-1/GIP receptor agonist that might probably problem Eli Lilly’s Zepbound.

In second place, in the meantime, got here German biotech Tubulis, which raised $361 million in collection C financing. This marked one other feat, as the corporate acknowledged that the fundraising represented “the most important collection C for a European biotechnology firm and the most important financing for a personal antibody-drug conjugate (ADC) developer globally.” The proceeds from this spherical will likely be used to broaden the scientific improvement of TUB-040, Tubulis’ lead ADC candidate, into earlier strains of remedy and extra tumor indications.

And, third within the standings final month was Kardigan, which raised $254 million in collection B funding. The corporate will use the funds from this to advance its pipeline of complementary candidates to focus on the underlying drivers of particular sorts of dilated cardiomyopathy, calcific aortic valve stenosis, and acute extreme hypertension.

Non-public biotech funding rounds by location

When wanting on the personal biotech funding rounds by location final month, we are able to see that, as soon as once more, North American firms achieved probably the most rounds, with 21 in complete, and likewise raised probably the most cash, bringing in a complete of $2.678 billion. European biotechs additionally carried out effectively, bringing in $814.7 million from eight rounds. Nevertheless, the Asia-Pacific area had a really disappointing month, with no important funding rounds occurring within the area.

Non-public biotech funding rounds by funding kind

Though there have been extra collection A rounds (10) than some other kind of financing spherical final month, it was collection B rounds that introduced within the largest complete, with $1.119 billion from simply 5 rounds. This was largely because of Kailera Therapeutics’ $600 million megaround.

Non-public biotech funding rounds by therapeutic subsector

Oncology topped the standings in October 2025 because the therapeutic subsector that attracted probably the most rounds and the most important quantity of funding, bringing in a complete of $814.7 million from eight rounds. In the meantime, metabolic dysfunction firms got here an in depth second – once more, primarily because of Kailera Therapeutics’ collection B spherical. And, apparently, two firms targeted particularly on hair loss additionally raised massive final month, suggesting that some traders is perhaps turning their focus towards a niche in a market that has only a few remedy choices.

Public biotech funding rounds in October 2025

Now, let’s try the general public biotech fundraising rounds that occurred in October 2025, breaking them down by worth and therapeutic subsector.

Public biotech funding by worth

Within the public biotech funding panorama final month, Summit Therapeutics got here out on prime after elevating $500 million from a personal placement. The corporate intends to make use of the online proceeds from this to advance the scientific improvement of its lead candidate, ivonescimab, in addition to for working capital wants and normal company functions.

In the meantime, Apogee Therapeutics got here second after elevating $345 million in a public providing, which can assist it obtain its purpose of advancing optimized, novel biologics with potential for best-in-class profiles within the largest inflammatory and immunology (I&I) markets. Spyre Therapeutics then got here third after bringing in $316.2 million from a public providing; the corporate is aiming to create the following technology of inflammatory bowel illness (IBD) and different immune-mediated illness merchandise by combining best-in-class antibody engineering, dose optimization, and rational therapeutic combos.

Public biotech funding by therapeutic subsector

Oncology gamers additionally got here out on prime within the public fundraising panorama final month, bringing in a complete of $744.5 million from 5 rounds. And, in shut second have been immunological illness firms, elevating $701.2 million from simply three rounds.

Month-to-month comparability of biotech fundraising

Beneath is a graph exhibiting a month-to-month comparability of personal and public biotech fundraising, wanting on the complete amount of cash raised per 30 days in 2025.

October 2025 turned out to be a stellar month for biotech funding. In reality, it was the most effective month of the 12 months to this point for each personal and public fundraising, as personal firms achieved a complete of $3.492 billion – the most effective complete of the 12 months throughout personal and public funding – and public firms bagged a complete of $2.835 billion. 

The query is: might this lastly recommend a turning level for the general biotech fundraising panorama? Now, we are going to simply have to attend and see how the ultimate two months of the 12 months play out.