Healthcare startups raised $2.61 billion in venture capital fundraising last month, according to analysis of deals conducted by VC database Pitchbook for Forbes.
That’s up 37% from the $1.9 billion raised during the same month last year, and it’s the highest amount raised in January on record since Pitchbook began tracking funding in 2008. (The next highest was in January 2015 when startups raised $2.16 billion.)
Biotech startup hub BridgeBio had the largest fundraise of the month, nabbing $299 million from investors like KKR and Viking Global Investors. The Palo Alto company is developing drugs for oncology and a number of rare genetic diseases. The startup operates differently than many in biotech; drugs in its pipeline are housed in various subsidiaries, which all have access to BridgeBio’s resources. The $125 million fundraise at sequencing startup 10x Genomics made it the only company last month to hit a valuation of over $1 billion. Read the full story here.