The biopharma sector saw record-breaking deal values in the first seven months of 2025, totaling $164 billion in non-M&A deals, a 36% increase over 2024. However, 2025 witnessed a notable IPO drought with lowest funding levels since 2016. Public, private, and other financings reflect ongoing investor interest despite fewer new public offerings. Industry reports highlight fundraising activities of emerging companies such as Kriya Therapeutics, and detail capital flow across US, Asian, and European markets, painting a complex but optimistic industry financing landscape.