Wilson Sonsini is pleased to present the 2025 Mid-Year Technology and Life Sciences PIPE and RDO Report, analyzing 68 private investments in public equity (PIPEs) and registered direct offerings (RDOs) by U.S.-based technology and life sciences companies between January 1 and June 30, 2025.

Key findings include:

• Decline in Life Sciences Activity: The first half of 2025 saw a 60% drop in deal count and a 74.6% decrease in proceeds from life sciences transactions compared to the same period in 2024. This shift underscores the challenging environment for life sciences companies, which are  facing increasingly investor-friendly terms.
• Robust Strength in Technology Sector: In contrast, technology financings experienced a significant resurgence, with a nearly 60% increase in deal count and over 400% increase in aggregate proceeds compared to the first half of 2024.

The report excludes data related to PIPEs by special purpose acquisition companies (SPACs) and equity lines of credit.

Click here to read the report.