Maryland Life Science Trend Analysis 2022

The life science industry in Maryland shows an upward trend in 2021, with an increase of 41% in private equity investment value of life science companies compared to the previous year. While there were 11 private equity rounds of biotech companies with a total investment of USD 302 million in 2020, the number of rounds more than doubled in 2021 to a total of 24 rounds with a record financing value of USD 854 million. The two biggest private equity financing rounds of biotech companies were raised by Cellular Biomedicine Group Inc. (USD 120 million) and Arcellx inc. (USD 115 million).

As the Biotechgate data for 2021 further shows, biotech companies account for 40 percent of life science companies in Maryland. Half of the biotech companies are categorized as “biotech – R&D services”, while 41 percent are “biotech – therapeutics and diagnostics” companies and 9 percent are other biotech companies such as agrobio, environmental or veterinary companies.

For more information, please see our report. Many thanks to our partner, the Maryland Department of Commerce, for their significant contribution in creating this trend analysis.