After a slower summer period, October 2025 brought encouraging signs for biotech funding. Investment activity is picking up across multiple modalities, with strong signals in oncology, AI-driven platforms, and emerging areas like women’s health. Here’s a snapshot of the key trends shaping biotech capital flow this month.
Oncology Still Dominates the Capital Flow – Oncology remains the leading focus for investors, with ADCs, bispecifics, T-reg therapies, and next-generation immuno-oncology platforms pulling in the largest rounds globally. The data suggests no slowdown in sight, highlighting the persistent unmet need and commercial potential in this space.
AI Is Now Mainstream – Artificial intelligence is no longer just a buzzword. From generative chemistry to robotic labs, investors are backing platforms that compress timelines and increase the probability of success. AI is rapidly becoming a foundational part of how biotech companies discover, develop, and deliver therapies more efficiently.
The US Remains the Investment Hotspot – Across all modalities, antibodies, cell therapy, neurotech, metabolic disease, and precision delivery systems , US funding rounds consistently outpace Europe and Asia in both deal volume and average cheque size. Within Europe, the UK remains the early-stage powerhouse, France is emerging in ADCs and AI-driven platforms, and Germany/Scandinavia are landing strong rounds in cell therapy, anti-infectives, and precision biologics. The US market continues to be the place to secure the largest capital injections.
Women’s Health Is Finally Getting Attention – After years of underfunding, women’s health is gaining momentum. Startups focused on endometriosis, fertility, and microbiome-driven solutions are seeing a noticeable upswing in early-stage funding. This signals a positive shift toward more inclusive healthcare innovation.
Platforms Continue to Win – Across geographies, the largest rounds consistently go to companies offering scalable platforms , whether in discovery, delivery, or manufacturing rather than single-asset plays. Investors are prioritising repeatable, high-leverage technologies that reduce risk and increase potential returns.
October’s funding trends give a glimpse of where biotech investment is heading into 2026. Oncology, AI, and scalable platforms remain top priorities, but emerging areas like women’s health are beginning to diversify the investment landscape.