Acquisitions of Paragon 28 and Foresight Diagnostics Contribute to Fundraising Record
DENVER – Colorado BioScience Association (CBSA) announces the state’s life sciences ecosystem raised $3.2 billion in 2025, a record driven by significant mergers and acquisitions. The results demonstrate the durability of Colorado’s life sciences community as companies, investors, and research institutions operate amid economic, regulatory, and policy uncertainty.
Strategic Acquisitions Strengthen the Ecosystem
In 2025, Colorado’s fundraising totals were bolstered by notable mergers and acquisitions, including the acquisitions of Paragon 28 by Zimmer Biomet and Foresight Diagnostics by Natera. These transactions highlight the maturity of Colorado-based companies and the state’s ability to generate assets of national and global interest.
M&A activity accelerates capital redeployment into the next generation of Colorado life sciences companies and reinforces Colorado’s reputation as a leading location for companies to build, scale, and achieve successful outcomes. Over the past five years, Colorado, recognized as the Hub for Health Impact, has raised more than $10 billion, demonstrating sustained capital formation through multiple market cycles. In 2025, fundraising remained strong across strategic mergers and acquisitions, private investment, public funding, and federal research support.
“Raising $3.2 billion in 2025 underscores the strength and discipline of Colorado’s life sciences community,” said Elyse Blazevich, President and CEO of Colorado BioScience Association. “Colorado companies advance bold ideas and breakthrough discoveries, scale with intention, and deliver real value for patients and investors. Because of that consistency, Colorado continues to strengthen our homegrown companies and attract new companies, investment, and talent to our state.”
Colorado Demonstrates Fundraising Momentum: Five-Year History
Colorado’s life sciences community raised more than $10 billion in the last five years.
2025: $3.2B
2024: $2.15B
2023: $1.47B
2022: $1.6B
2021: $2.4B
Capital Distribution Reflects a Mature Ecosystem
In 2025, Colorado companies raised $590.5 million in public capital, through post-IPO equity and debt, and $483.9 million in private capital, primarily from venture investment. The distribution of private capital reflects continued support for early-stage formation and strong backing for later-stage companies advancing toward commercialization.
Fundraising activity was strongest in Q2 of 2025. Throughout the year, companies reported meaningful clinical, regulatory, and development milestones, reinforcing investor confidence in Colorado’s scientific depth and execution capacity.
|
Private Capital |
$483.9M |
|
Pre-Seed/Seed |
$59.6M |
|
Series A + B |
$146.3M |
|
Series C, D + Later |
$278.0M |
Federal Funding Anchors Scientific Discovery
Despite uncertainty, federal grants remained a cornerstone of Colorado’s health innovation economy in 2025, with $585.5 million awarded by the National Institutes of Health, the National Science Foundation, and the U.S. Department of Defense. In many cases, the grant dollars are deployed through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These funds support foundational research, translational science, and company development across Colorado’s academic and research institutions and fuel growth for early-stage companies.
The 2025 federal funding totals represent an increase of 18% compared to 2024’s $496.6 million in federal grants. Federal funding levels in 2026 may be influenced by changes in federal priorities following the administration transition in 2025.
State Grants Support Early-Stage Companies
The State of Colorado’s Office of Economic Development and International Trade (OEDIT) awarded $2.7 million in Advanced Industries Accelerator Grants to life sciences companies and university researchers in 2025, a 50.9% decrease compared to 2024 due to state budget cuts. Despite vigorous advocacy by CBSA and its partners, the Colorado State Legislature approved two years of cash-fund transfers that will reduce available grant dollars for 2026 and 2027. Throughout the process, CBSA emphasized the program’s proven value and impact, reinforcing its importance to Colorado’s innovation economy.
The Advanced Industries Accelerator Grant Program, managed by OEDIT, is a critical source of non-dilutive funding for Colorado early-stage life sciences companies and organizations. It demonstrates a significant return on investment, delivering value back to the state through company creation and high-paying jobs, with $20.25 in ROI for every $1 invested by the state.
Global Recognition Reinforces Colorado’s Reputation for Health Innovation
Colorado’s steady performance continues to elevate its standing in the global life sciences landscape. According to CBRE (2025), the Denver–Boulder region ranks 21st globally for life sciences venture capital, placing Colorado ahead of many larger U.S. and international markets. The ranking reflects consistent investment levels, strong demand fundamentals, and a market that has avoided the volatility seen in overheated coastal hubs.
Investor Conference Offers Opportunities to Meet Colorado Companies
Hosted by Colorado BioScience Association, the Rocky Mountain Life Sciences Investor and Partnering Conference, taking place in Vail on September 30 to October 2, 2026, will convene life sciences investors and strategic partners from across the country alongside investment-ready growth-stage companies. The conference will focus on partnering and capital formation, with curated one-to-one meetings, company presentations, and opportunities to engage directly with leaders advancing health innovation in Colorado and the Rocky Mountain West.
“We’re inviting investors and strategic partners who are actively looking for their next opportunity to join us in Vail next fall,” said Matt Teter, Senior Vice President at Colorado BioScience Association. “The Rocky Mountain Life Sciences Investor and Partnering Conference will connect national investors and strategic partners with high-quality companies, experienced founders, and a strong pipeline of innovation.”
Life Sciences Contributes to Colorado’s Economic Stability
Colorado’s life sciences ecosystem employs more than 41,000 Coloradans in mission-driven, high-paying jobs and generates an estimated $52.9 billion in economic impact statewide. Continued access to capital supports scientific advancement while strengthening Colorado’s economy and workforce.
CBSA compiles and analyzes annual life sciences financing data using publicly available sources, including company announcements, SEC filings, federal and state databases, media reports, and Crunchbase.
Connect with CBSA: LinkedIn, Facebook, and Twitter/X
About Colorado BioScience Association
Colorado BioScience Association (CBSA) creates co-opportunity for the Colorado life sciences community. CBSA champions a collaborative life sciences ecosystem and advocates for a supportive business climate. From concept to commercialization, member companies and organizations drive global health innovations, products, and services that improve and save lives. The association leads Capital and Growth, Education and Networking, Policy and Advocacy, and Workforce Cultivation to make its members stronger, together. Learn more: cobioscience.com
Media Contact:
Sheliah Reynolds
Primavera Group for Colorado BioScience Association
(720) 289-4739
###