Biotech Venture Capital & IPO Insights - 2025 Review and 2026 Outlook
European VC and growth funds played a leading role in private biotech financing in 2025, according to Société Générale’s Biotech Venture Capital and IPO Insights: 2025 Review and 2026 Outlook. The report shows that European-based investors were among the most active lead investors globally, with Forbion topping the league table for lead investments by deal count followed closely by Novo Holdings.
In the Top Lead Investors by Deal Count in 2025 analysis, Forbion led more private biotech financing rounds than any other fund, with activity spanning Series A through Series D+ and a particularly strong concentration in Series B and Series C rounds.
The same report also highlights a renewed return of large crossover and mutual funds to private biotech investing in 2025. Forbion is shown as one of the most active investors by capital deployed, with approximately $2.3 billion invested across private companies since 2022. This places Forbion among the top global biotech investors by total deal value, alongside established U.S. and international peers, underscoring its ability to combine lead-investor activity with meaningful capital commitment.
To review the report in its entirety click here to download.
