Life Sciences Snapshot – Q3 2024 – A Quarterly Report on Financing Trends

This edition of Orrick’s life sciences series reviews key venture investment trends in Q2 2024 and features a roundtable on ARPA-H, which funds high-impact biomedical research. The discussion covered strategies for securing ARPA-H funding and how investors evaluate companies based on ARPA-H’s mission and long-term impact.

Key findings include:

• Life sciences VC deal value hit $10.6 billion in Q2, up 30% from Q1, bringing the YTD total to $18.6 billion—40.2% higher than last year.
• Larger deals ($100M+) are driving growth, with increasing check sizes and valuations.
• AI-driven life sciences companies are attracting top-tier investments.
• Exit value has exceeded $10 billion per quarter, with $21.7 billion YTD, signaling recovery and growth.