European biotech chases record VC funding
European biotech chases record VC funding.
VC funding for European biotech startups is on track for a record year, though the gap with the US remains stark.
According to PitchBook data, €800 million (about $912 million) has been invested in the space this year, more than three-quarters of the total for 2025. At the current pace, deal value would surpass 2018's record of €1.2 billion.
The number of VC rounds involving European biotech startups is expected to increase modestly from last year, unlike in many other sectors. However, the median deal size remains below 2024's high of €3.5 million.
Swiss radiopharmaceutical startup Nuclidium 's 105 million Swiss francs (about $130 million) Series B was the largest round to close this year. It is followed by a $115 million Series A for London-based RQ Bio , which develops therapeutics to prevent influenza in immunocompromised people.
Deal activity has been supported by several fund closes this year. Paris-based Jeito Capital closed the largest VC fundraise this year, according to PitchBook's Q2 2026 European Venture Report , raising $1.2 billion for its second vehicle. Fellow French investor Kurma Partners closed its fourth biotech fund on €215 million.
Europe accounts for a larger share of global biotech funding, claiming 20.5% of the global total—the highest percentage since 2018. But the gap between the continent and more mature markets, such as the US, remains significant. US biotech startup fundraising is triple that of Europe this year, driven by a sharper focus on AI. The difference is exemplified by anti-aging startup NewLimit , which raised $435 million last month.
Earlier this year, a group of European VCs, including Denmark's Novo Holdings and France's Sofinnova Partners , launched The European Life Sciences Coalition in partnership with Invest Europe, calling for more capital, both public and private, to be injected into the region.
According to the ELSC, the industry supports 29 million jobs, yet the continent struggles to retain and scale startups. It pointed to fragmented capital markets, slow and uneven regulatory processes and a dwindling number of specialized VC firms as to why homegrown startups are looking elsewhere.
The EU published a proposal at the end of last year to support the sector. The European Biotech Act is designed to reduce the competitive gap with the US and China.
The act establishes a framework for identifying strategic projects that would then benefit from accelerated permitting and priority access to funding. Reducing time-to-market and harmonizing processes are key focuses for the act, as is mobilizing public and private capital.
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