Amid a shifting funding landscape, biopharma firms secured substantial financing rounds and pursued innovative capital strategies. Frazier Life Sciences closed a $1.3 billion fund to invest in early-stage biotech, Strand Therapeutics raised $153 million to advance mRNA cancer therapies, and biopharma companies explored cryptocurrency deals to support R&D. Despite a year-to-date financing total declining from 2024, industry investments remain robust with top deals in July highlighting collaborations across drug modalities.