PitchBook年二季度制药生物工具风险投资趋势（英）

EMERGING TECH RESEARCHQ22025Pharma Biotools VC TrendsVC activity across the pharma biotools ecosystemREPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 2ContentsQ2 2025 Pharma Biotools VC TrendsInstitutional Research GroupAnalysisDataMatthew Nacionales Senior Data Analystpbinstitutionalresearch@pitchbook.comPublishingReport designed by Adriana Hansen and Chloe LadwigPublished on September 4, 2025Pharma biotools landscape 3Pharma biotools VC ecosystem market map 4VC activity 5Pharma biotools VC deal summary 22Ben Riccio Associate Research Analyst ben.riccio@pitchbook.comCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 3Q2 2025 Pharma Biotools VC TrendsPharma biotools landscape312MatureAdvancedEmerging123CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 4Q2 2025 Pharma Biotools VC TrendsPharma biotools VC ecosystem market mapCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 5Q2 2025 Pharma Biotools VC TrendsVC activityThe pharma biotools industry encompasses instruments, technologies, and services supporting drug discovery, biopharmaceutical manufacturing, and diagnostics. The space has progressed beyond basic laboratory equipment, evolving into a field defined by sophisticated platforms that integrate digital technologies into traditional wet lab approaches and provide tech-enabled services tailored to emerging therapeutic modalities. With drug developers weathering a downturned funding environment,1 innovations such as in silico molecule validation, improved preclinical testing models, and AI-enabled clinical trial platforms are proving critical in reducing development costs and accelerating commercialization timelines. In Q2, VC deal activity totaled $987.4 million across 102 transactions, marking QoQ declines of 43.6% and 21.5%, respectively. Despite the sharp QoQ decline, deal counts remain significantly elevated compared with prior years, up 54.5% YoY. With 232 deals recorded in H1, 2025 is positioned for record levels of activity. However, total investment remains well below historical averages, reflecting a contraction in deal sizes, particularly at the later stages. Median deal size fell to $6.9 million in H1, compared with $10 million across 2024. This funding dynamic stands in contrast to both the biopharma industry and broader VC ecosystem, where capital is concentrating in fewer, larger rounds as investors prioritize risk mitigation. The divergence highlights the distinct profile of the pharma biotools sector. Given its smaller scale and ongoing evolution toward asset-light platforms—including AI and computational approaches, multiomics platforms, and lab automation solutions—capital deployment has skewed toward smaller, earlier-stage opportunities. Current investor focus on capital efficiency has 1: For an overview of VC activity in biopharma, read our Q2 2025 Biopharma VC Trends report.Source: PitchBook • Geography: Global • As of June 30, 2025Pharma biotools VC deal activity$7.6$11.6$8