Biotech's top 10 money raisers of 2021

After a bustling, record-setting 2020 for private biotechs raising cash, the bar heading into 2021 was exceptionally high. Turns out, private investors elected to just take the bar and do pull-ups, breaking 2020’s record by a whopping 26%.

It’s the kind of jump that’s genuinely hard to believe. Biotechs raised more than $22 billion in private funds in 2020, rebounding after a slow 2019. Then 2021 came along, and the industry's young companies ginned up $28.5 billion in cash, according to Evaluate Vantage's year-end report (PDF).