CAR-T Funding Report – Venture Capital, IPOs, Licensing Deals, Collaborations, and M&A Transactions, 2025

EXECUTIVE SUMMARY

In recent years, the CAR-T industry has experienced a remarkable surge in funding. At first, the trend was subtle, but the tide has swelled as CAR-T therapies have reached the marketplace and created a funding boom. Today, CAR-T start-ups are being richly funded by investors and large pharma who are eager to get into this trending area of regenerative medicine.

Worldwide, more than 170 companies are now developing CAR-T products and therapies, with a total of 1,944 early and late-stage therapies in development. These companies have also entered into 110 collaboration agreements aimed at advancing various CAR-T candidates. Of these, only 38 have disclosed the value of their deals, which amounts to $23.58 billion. If we estimate the value of the undisclosed deals, the total value of these 110 collaborations is likely to reach approximately $67.9 billion.

The clinical successes of CAR-T therapies have sparked significant interest from venture capitalists globally. This increased activity has fueled advancements in CAR-T technology and the development of applications for both hematological cancers and other types of cancer. Since 2014, a total of 89 CAR-T companies have secured $7.7 billion in venture capital, enabling them to strengthen their foundations. Venture capital funding has remained strong and consistent throughout the development of the CAR-T industry.

Data shows that Initial Public Offerings (IPOs) within the CAR-T space were relatively slow last year. In 2024, only Kyverna Therapeutics went public, raising $319 million to support its anti-CD19 CAR-T therapies. However, from 2014 to present, 42 CAR-T companies have gone public, collectively raising $6.4 billion to further enhance their technology platforms, clinical trials, and corporate strategies.

Within this rapidly evolving industry, there are currently 72,418 patent records and 452 granted patents. As a result, large pharmaceutical companies are increasingly seeking to enter the CAR-T market by licensing patents from existing patent holders. Over the past decade, 91 CAR-T licensing deals have been valued at $6.3 billion, and this figure is expected to grow significantly over the next ten years.

While 2023 saw a resurgence in dealmaking, the CAR-T industry experienced a slowdown in mergers and acquisitions (M&A) in 2024, with only two deals completed. Although major M&A activity may not return in 2025, further deals are likely as large pharmaceutical companies look to deploy their cash reserves. Over the past decade, M&A deals have accounted for the largest share of CAR-T industry financing, totaling an impressive $97.4 billion.

In total, the CAR-T industry has raised more than $141.2 billion through various deal types, including IPOs, licensing deals, collaborations, and M&A transactions. It’s important to note that the values of 61 out of 91 licensing deals, 75 out of 110 collaboration deals, and 12 out of 29 M&A deals remain undisclosed. If we estimate the value of these undisclosed transactions, the overall total is likely to reach a staggering $281.7 billion.

Globally Approved CAR-T Therapies

Since 2017, 13 CAR-T cell therapies have reached commercialization across multiple healthcare markets. Seven therapies have been approved by the U.S. FDA, after which approvals for them were issued in other major healthcare markets as well. Beyond the U.S., four CAR-T therapies—Relma-cel, Fucaso, Yuanruida, and Zever-cel—have been approved by China’s National Medical Products Administration (NMPA). Additionally, two therapies, NexCAR19 and Qartemi, have received approval from India’s Central Drugs Standard Control Organisation (CDSCO).

All 13 approved CAR-T cell therapies are currently used exclusively to treat blood cancers, which account for less than 5% of cancer patients worldwide. Today, there are approximately 1,944 ongoing clinical trials focused on addressing both blood cancers and solid tumors. Of these, only 244 trials are targeting solid cancers. This swell of clinical trials has been driven by the remarkable 90% remission rate achieved by most of the approved CAR-T therapies.

CAR-T Market Overview

To track funding within this rapidly growing industry, BioInformant has released this 220-page CAR-T market funding report. It summarizes all types of investments flowing into CAR-T companies worldwide, including financing rounds, IPOs, M&A transactions, co-development agreements, and strategic partnerships. Additionally, it profiles 78 leading competitors who have been involved with these CAR-T industry funding events.

This report reveals the following information for the CAR-T Cell Therapy Industry:

Financing Rounds
IPOs
Asset Agreements
Strategic Partnerships
Co-Development Agreements
M&A Transactions
Companies Profiles for CAR-T Market Competitors

You can use it to:

1. Quantify CAR-T industry investments
2. Identify well-capitalized companies
3. Scout potential partnerships and alliances
4. Understand partnerships and co-development programs for CAR-T technologies
5. Identify M&A activity within the CAR-T industry

To summarize, CAR-T companies—from emerging start-ups to billion-dollar enterprises—have completed hundreds of billions of dollars in financial transactions in recent years. These companies are rapidly expanding across global healthcare markets. This report delivers essential insights into the financial forces driving the industry, revealing where capital is flowing and how you can strategically position yourself to benefit from these trends. Show more