Biopharma financing activity showed nuanced trends with seed and Series A funding rising in first half 2025, though the total number of contributing companies decreased. In med-tech, companies like Abbott reported strong medical device sales despite headwinds from COVID-19 testing declines and Chinese procurement policies. Corporate moves include Thermo Fisher’s acquisition of Sanofi's sterile manufacturing site and Waters’ $17.5 billion deal to acquire BD’s Biosciences & Diagnostic Solutions business. Novartis named a new CFO and initiated a $10 billion share buyback amid earnings announcements. Biotech companies in Asia, including mainland Chinese firms, continue to seek capital via Hong Kong IPOs, and Australia committed nearly AU$100 million to biopharma and med-tech incubators to fuel startup growth.