VENTURE CAPITAL
Venture capital investment in human simulation technologies exceeded $5B during 2023-2024, despite broader biotech market headwinds. AI drug discovery captured the majority of funding, while organ-on-chip and organoid companies attracted strategic investors. Later-stage rounds dominated as companies approach commercialization.
NOTABLE FUNDING ROUNDS
- Recursion: $500M+ raised, Nvidia strategic investment, NASDAQ listed
- Insilico Medicine: $400M+ cumulative, Series D at $3B+ valuation
- Generate Biomedicines: $370M Series B for protein design
- Quris AI: $50M+ for Bio-AI organoid platform
- Emulate: $180M+ cumulative funding
PHARMA PARTNERSHIPS
- Isomorphic Labs: $3B combined Eli Lilly and Novartis deals
- Recursion-Bayer: Up to $1B fibrosis partnership
- Insilico-Sanofi: Multi-target collaboration valued $1.2B+
- Recursion-Roche: $150M neuroscience and oncology
- Exscientia-Sanofi: $100M+ oncology deal
M&A ACTIVITY
Strategic acquisitions accelerated in 2024 with Merck's acquisition of HUB Organoids securing foundational organoid IP, Recursion's acquisition of Exscientia and Cyclica expanding AI capabilities, and continued consolidation among organ-on-chip players. Government funding via ARPA-H ($500M+) and NIH NCATS provides non-dilutive capital.