The number of investments that venture capitalists will make this year in biopharma companies is on pace to match last year’s record-and that money continues to shift into earlier-stage deals. Venture firms invested in 609 drug development deals as of September 30th, 2019, compared with 808 deals for all last year, according to the latest data from firms that track VC investments. Since 2016, more than half of the money invested in biopharma each year has been in the riskier angel, seed, Series A, and Series B stages. Previously these deals by VCs went into late-stage deals. Learn More