The Evolving Landscape of Alternative and Non-Dilutive Financing | Life Sciences Snapshot – Q4 2025

US life sciences venture activity slowed sharply in Q3 2025, with deal flow drifting down to a decade low. The policy backdrop was mixed: Faster review timelines continued to help approvals, yet compliance and supply chain risks—particularly around the revived BIOSECURE Act—added friction. Near-term funding conditions remain choppy, but a steadier macroeconomic environment and potential cuts to interest rates could gradually improve sentiment….
By: Orrick, Herrington & Sutcliffe LLP