Biotech venture financing showed signs of slowdown in the first half of 2025, with total funds raised falling to $12.7 billion compared to $16.9 billion in the prior year period. Deal values and average financing sizes were down, reflecting a cautious investment climate. However, notable large deals were completed, including Colossal Biosciences raising $200 million in Series C funding to support genome engineering applications beyond de-extinction, and Caris Life Sciences closing a $168 million financing to expand its genomic testing platform. Additionally, the biopharma sector saw a surge in dealmaking in Q2 2025, surpassing $71 billion in total value across 278 transactions, indicating ongoing interest amid market fluctuations.