Report highlights nearly 100 life science companies and investment trends as Chicago prepares to welcome BIO International Convention 2030
CHICAGO, Aug. 5, 2025 /PRNewswire-PRWeb/ -- The Illinois Biotechnology Innovation Organization (iBIO) today released its inaugural Member Investor Portfolio Report, documenting over $1.24 billion in venture-style investments completed by nearly 100 life science companies in Illinois during calendar year 2024. The comprehensive report provides critical benchmarking data for Illinois' thriving life sciences ecosystem.
"This report represents a milestone for our community," said John Conrad, President and CEO of iBIO. "It's essential that we track investment activity in our region, identify key trends, and most importantly, highlight and celebrate the incredible companies that are driving innovation and raising funds despite challenging market conditions. These achievements demonstrate the strength and resilience of Illinois' life sciences sector."
The report breaks down investments across multiple funding stages, with late-stage deals capturing 50% of total dollars raised, Series A rounds accounting for 35%, and early-stage investments representing 15%. Software solutions dominated funding by vertical with $544 million raised (44%), followed by pharma and biotech at $369 million (29%), and AgTech/industrial bioscience at $186 million (15%).
BIO International Convention Returns to Chicago in 2030
The report's release comes following the announcement that the BIO International Convention will return to Chicago in 2030. The convention, which last took place in Chicago in 2013, is expected to bring over 20,000 biotechnology professionals from around the world to the city.
"The BIO International Convention's return to Chicago is a reflection of the tremendous growth of our life sciences community and a testament to our region's promise as a major player in the biotech economy of the future," said Kenneth Johnson, Vice President for Medical Affairs at Immedica US and iBIO board chair "This has long been a goal for iBIO, and we've been working closely with BIO and our board members to highlight how important our ecosystem is to the global biotechnology community."
The convention represents an opportunity to showcase Illinois' life sciences strengths, including its growing startup ecosystem, world-class research institutions, and robust infrastructure for biotechnology innovation.
Report Highlights
Key findings from the 2024 report include:
- $1.24 billion raised across 99 life science companies
- 19 Series A deals led investment activity by deal count
- 16 deal tombstones highlighted major funding rounds
- 12 company milestones featured, including FDA approvals and licensing agreements
The report also showcases major Illinois life sciences developments, including ARCH Venture Partners' $3 billion new fund, Tempus AI's successful $410 million IPO, and the launch of the Illinois Quantum and Microelectronics Park.
"Raising capital in today's market is challenging, but the depth of interest from investors — when combined with Chicago's and the State of Illinois's strong scientific talent, research infrastructure, and overall access to capital — made our latest funding round a success," said John Craighead, Ph.D., chief executive officer at Syntax Bio. "This region offers exactly what innovative biotech companies like Syntax need to advance transformative technologies."
The full 2024 Member Investor Portfolio Report is available at https://ibio.org/investment-report/.
Media Contact
John Conrad, IBIO, 1 312-422-1111, [email protected], http://ibio.org
SOURCE IBIO
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