no boot sector it was completely immune to the uncertainty of the 2022 market, except maybe the AI, but some proved more resilient than others. Biotechnology was one of the luckiest.
The industry registered 1,054 deals in the US in 2022, worth a collective $30.7 billion, according to Pitchbook. data. Those numbers fell short of the 1,415 biotech deals reached in 2021 for a total value of $39 billion. But the declines weren’t the worst we found: Biotech showed a more modest year-over-year decline in investment volume (21%) than many other sectors, including fintech (37.7%), consumer tech (53%), and technology. business (33%). %).
Comparing the results of any sector with 2021 is a bit misleading, since that year was the peak of the last startup boom. Compared to the most conservative 1,143 biotech deals in 2020 worth $29.6 billion, last year it closed at par.
US biotech deals also set new records in 2022 for both median deal size, $33.5 million, and median valuation, $38 million.
Biotech investors told TechCrunch that while they definitely felt the pressure from general economic conditions last year, noting that tourism investors were shying away from the category, as were other sectors, many were not surprised that the category performed Better than some of the other busier industries for a few key reasons.
