Cambridge life sciences fundraisings pass $700m as Q3 maintains strong momentum
This brings the total for the first three quarters of the year to $704.3 million across 18 qualifying transactions, writes Paul Hughes, Managing Director, Life Sciences & Technology at BDO.
While Q3 recorded fewer deals than the previous two quarters (six in Q2 and eight in Q1), it maintained strong capital inflows, with an average deal size of $43.5 million. This figure sits between Q2’s unusually high average of $55.4 million – driven by two major raises – and Q1’s $24.8 million.
The largest Q3 raise was $80.0 million by CHARM Therapeutics, a structure-led drug discovery company using AI to target oncology. Other notable transactions included $44.0 million by Cyted Health, which focuses on diagnostics and MedTech; $32.0 million by Alchemab, a therapeutic antibody company; and $17.9 million by Enhanced Genomics, which develops data aggregation platforms for research and healthcare.
Quarter-on-quarter, Q3 funding totals were lower than Q2’s $332.2 million, which was dominated by two large raises totalling $320 million. However, the Q3 performance was still materially ahead of Q1’s $198.2 million, reflecting continued investor confidence in Cambridge’s life sciences businesses across a range of maturity levels and subsectors.
Year-to-date, the sector has delivered:
• 18 transactions over $1 million
• $704.3 million raised
• Strong balance between early-stage and scaling businesses
• Sustained investor commitment to platform innovation and commercialisation.
The figures show that Cambridge’s life sciences companies remain highly investable, with capital flowing consistently into AI-led drug discovery, diagnostics, therapeutics and infrastructure-enabling technologies.
As the sector moves into Q4, the year-to-date momentum sets a strong foundation for Cambridge to surpass previous annual fundraising benchmarks – particularly if further large-scale transactions close before year-end.
