# Median Series B round in Biotech (2026) > The median Series B round in Biotech is $63M, from 34 rounds announced in the last 12 months. Half raised between $32M and $125M. Source: https://millionrounds.com/benchmarks/series-b/biotech (Millionrounds; every figure on the page links to its filing or article) Funding benchmark · last 12 months # The typical Series B round in *Biotech* From 34 Series B rounds announced in Biotech over the last twelve months, each read from a named source. Half of them raised between $32M and $125M. See the rounds[All benchmarks](https://millionrounds.com/benchmarks) Series B Biotech Median round **$63M** $17M 1 in 10 below $32M – $125M middle half $146M 1 in 10 above 34 rounds counted · recounted nightly Rounds counted **34** Series B rounds in Biotech, last 12 months Against worldwide **+25%** vs the $50M worldwide median Since last round **-** too few earlier rounds on record Lead named **85%** of these rounds name the investor who led The trend ## Median Series B round, quarter by quarter From $55M in 2025 Q1 to $43M in 2026 Q3. Quarters with fewer than five rounds are left blank. '24 Q4 3 rds $55M '25 Q1 5 rds $100M '25 Q2 6 rds $93M '25 Q3 5 rds $66M '25 Q4 6 rds $29M '26 Q1 5 rds $100M '26 Q2 15 rds $43M '26 Q3 8 rds Who leads ## The most active leads The firms that led the most Series B rounds in Biotech this year. - [1 **ARCH Venture Partners** 2 led](https://millionrounds.com/fund/arch-venture-partners) - [2 **Frazier Life Sciences** 2 led](https://millionrounds.com/fund/frazier-life-sciences) - [3 **General Catalyst** 1 led](https://millionrounds.com/fund/general-catalyst) - [4 **Norwest Venture Partners** 1 led](https://millionrounds.com/fund/norwest) - [5 **RA Capital Management** 1 led](https://millionrounds.com/fund/ra-capital-management) - [6 **IVC** 1 led](https://millionrounds.com/fund/ivc) Recent examples ## Series B rounds in Biotech, latest first - [**Prolific Machines** 22 Oct 2026 · Atoms & Bits $50M -20%](https://millionrounds.com/company/prolific-machines) - [**Matchpoint Therapeutics** 7 Oct 2026 · Norwest Venture Partners $150M +140%](https://millionrounds.com/company/matchpoint-therapeutics) - [**AnaCardio** 1 Oct 2026 · Ljungström family office $71M +13%](https://millionrounds.com/company/anacardio) - [**Biossil** 28 Sept 2026 · OpenAI Startup Fund $153M +145%](https://millionrounds.com/company/biossil) - [**Holiferm** 24 Sept 2026 · Not named $16M -75%](https://millionrounds.com/company/holiferm) - [**Evvy** 15 Sept 2026 · Catalio Capital Management $40M -36%](https://millionrounds.com/company/evvy) - [**NovaGo Therapeutics** 2 Sept 2026 · Pureos Bioventures $30M -52%](https://millionrounds.com/company/novago-therapeutics) - [**Qureight** 29 Jul 2026 · Molten Ventures $20M -68%](https://millionrounds.com/company/qureight) **How to read these figures** They come from announced rounds. Large rounds are almost always announced and many small ones never are, so the true typical round is probably a little smaller than shown, most of all at pre-seed and seed. Every round behind them is in the record with its source. [How we read rounds](https://millionrounds.com/methodology). Other stages in Biotech [**Seed** $7.3M](https://millionrounds.com/benchmarks/seed/biotech)[**Series A** $32M](https://millionrounds.com/benchmarks/series-a/biotech) Series B elsewhere [**AI** $55M](https://millionrounds.com/benchmarks/series-b/ai)[**United States** $60M](https://millionrounds.com/benchmarks/series-b/united-states)[**Fintech** $40M](https://millionrounds.com/benchmarks/series-b/fintech)[**United Kingdom** $43M](https://millionrounds.com/benchmarks/series-b/united-kingdom)[**Healthcare** $46M](https://millionrounds.com/benchmarks/series-b/healthcare)[**Construction** $40M](https://millionrounds.com/benchmarks/series-b/construction)[**Cybersecurity** $58M](https://millionrounds.com/benchmarks/series-b/cybersecurity)[**Robotics** $63M](https://millionrounds.com/benchmarks/series-b/robotics)[**Enterprise Software** $49M](https://millionrounds.com/benchmarks/series-b/enterprise-software) ## Raising a Series B round? See who leads rounds like yours, and check your raise before you pitch. [Take the Fundability Test](https://millionrounds.com/fundability)[Or find investors](https://millionrounds.com/investor-database) ## Q&A How big is a typical Series B round in Biotech? The median is $63M, from 34 Series B rounds announced in Biotech in the last twelve months. Half of them raised between $32M and $125M; one in ten raised more than $146M. Which rounds are counted? Rounds announced in the last twelve months with a stated amount and stage, each read from a named article or filing. A page is only published where at least 30 rounds stand behind it. Are these figures biased? Towards larger rounds, yes. Big rounds are announced; many small ones never are. So the true typical round is probably a little smaller than the figure here, especially at pre-seed and seed. How often does it change? The figures are recounted from the record every night, as new rounds are read.