Biotech startups that utilize platform-based therapeutics received a large proportion of investment dollars from 2019 to 2021, according to a June 10 McKinsey article.
Globally, venture capital firms invested over $52 billion into biotech startups, counting investments from seed to series C. The largest proportion of funding went to platform-based therapeutics, bringing in $34.6 billion in total, while other therapeutics accounted for $17.2 billion in funding.
Here are five platform-based startup types to watch, as they received the most VC investment:
- Cell therapy represented $7.7 billion of total funding.
- Next-generation gene therapies brought in $7.6 billion in funding.
- Precision medicine companies got $4.5 billion in funding.
- Machine-learning-enabled drug discovery brought in $4.4 billion.
- Startups focusing on hard-to-hit targets, or "undruggable" targets, got $4 billion in funding.