Mizuho sees biopharma funding rise 56% in September on public deals

Investing.com - Biopharma funding totaled $13.0 billion in September 2026, up 42% from $9.1 billion in August and 56% higher than the prior year, according to BioWorld data highlighted by Mizuho. Public-other financing accounted for 64% of September funding, rising 75% month-over-month and 272% year-over-year.

Year-to-date biopharma funding reached $89.1 billion through September, up 84% from $48.3 billion in the same period of 2025. IPOs saw the largest year-over-year increase at 281%, followed by follow-on offerings at 159% and public-other financing at 53%. Venture funding posted the smallest gain at 25% year-over-year.

Third-quarter 2026 biopharma funding totaled $29.5 billion, down 15% from $34.5 billion in the second quarter but up 57% from $18.8 billion in the third quarter of 2025. Public-other financing contributed $15.6 billion, or 53% of quarterly funding, while follow-on offerings totaled $5.6 billion, venture funding reached $5.8 billion, and IPOs accounted for $2.5 billion.

On a trailing twelve-month basis, biopharma funding reached $122.2 billion in September 2026, up 92% year-over-year. Venture funding, which Mizuho said is most relevant for small and mid-cap biotech customers, increased 74% month-over-month in September and 21% year-over-year.

The Federal Reserve raised the federal funds target range by 25 basis points to 3.75%-4.00% at its September meeting. CME FedWatch data as of September 30 implied an 89% probability of at least one additional 25 basis point increase by year-end, with further increases priced into 2027.

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