The biotech and med-tech sectors witnessed significant financing activities with Med-tech firms raising billions through numerous deals in May 2025. Antares Therapeutics secured $177 million in Series A funding following its spinout from Scorpion Therapeutics. Notable IPOs include Omada Health and Caris Life Sciences, signaling investor interest amid sector challenges. Conversely, Odyssey Therapeutics withdrew its IPO plans amid a difficult biotech public market landscape. Industry consolidations continue with Concentra acquiring struggling Elevation Oncology to shutter operations.