This report — the fourth in as many years — digs deep to show how much has changed since last year’s financial successes of the Covid-19 biopharma industry boom.

Looking at which venture capital firms have made the best investments and their payouts for investors, Kate Sheridan and STAT’s Allison DeAngelis break down the numbers for more than a dozen of the biggest names in biotech venture capital: Atla Partners, Flagship Pioneering, OrbiMed, Third Rock Ventures, and Versant Ventures. 

Including new 2022 data, we have combed through dozens of private returns to provide you with a definitively ranked list. In this report, learn which firms have been most successful in betting on the biotech companies they invest in, company’s strategy behind their performance, and insights on who delivered the best returns to their investors, all in our 2023 Update: Ranking Biotech’s Top Venture Capital Firms.