While Dutch & European governments are prioritising biotech, the Dutch Life Science Trend Analysis shows a decline on multiple metrics. The number of companies founded, assets in (pre)clinical development & total funding amounts of last year all decreased compared to 2024. This came to light through the Dutch Trend Analysis Report 2026 from the leading global biotech database Biotechgate in collaboration with hollandbio. The annual report provides an in-depth look at funding patterns, company formation, and international benchmarks.

The growth we hoped for is not yet there

The 2025 data reinforce the ‘winner takes it all’ trend we flagged last year: an increasing concentration of capital among a small group of winners. In the report on 2024, Dutch venture financing continued to grow, showing a 10% increase compared to the previous year. And while hollandbio was hoping for a continuation of this growth, the report shows otherwise. The total biotech funding amount of 2025 is similar to that of 2024 (-2,3%), while the number of rounds is decreasing. This implies that although the average round size is increasing, total funding is not. Luckily, a few Dutch companies were able to raise significant funding in 2025, including Leyden Labs, Avidicure and The Protein Brewery.

The data sends out another worrying signal: the decreasing number of assets in development (-10%). Leading fields are still oncology, neurology and infectiology. As the risk of technical failure is high in biotech, a pipeline with sufficient assets in development is of crucial importance. In addition, since 2020, the number of companies founded has been declining. The international data show that this is not a Dutch problem, though: all benchmarked countries show a decline in company foundation. Hollandbio sees this as a real threat for the future, as today’s start-ups and clinical assets are tomorrow’s changemakers.

International Benchmark: ups and downs

Although it is a mixed bag, the international benchmark leaves room for some good news, too. The Netherlands scores excellently when it comes to the number of companies per million inhabitants: only Denmark and Switzerland do better. Also, the Dutch ecosystem is home to more food, agriculture and materials biotech compared to other countries. Yet, when looking at the health applications, specifically the assets in clinical development, we are down in the charts, with countries such as the United Kingdom, Denmark, Switzerland and the United States way ahead of us.

The US still play a different league compared to Europe when it comes to funding: even though the total equity capital raised there has declined significantly (-15%), US companies raised 4x the amount of equity capital. Also, the increasing amount of equity capital raised in China is relevant. Although not included in the report, the Chinese equity capital raised for biotech is over 50% of the total capital raised in Europe and growing⁽¹⁾.

Time to act now

The story told by the trend analysis is not a positive one for Europe and the Netherlands. The report’s data reflects reality – and must underscore the urgency of the challenges we face. European biotech is losing momentum to the US and China. Dutch companies keep looking at the US for an IPO and one of the only Dutch biotech’s listed in Amsterdam is openly doubting a focus on the US stock market. On top of that, securing early-stage funding remains a serious challenge and an increasing number of companies are filing for bankruptcy.

Europe needs to step up to remain a global player in biotech. Luckily, the European Commission and the Dutch national government see this, and have published plans to turn the tide: the EU Biotech Act, The Dutch Biotech Vision and Wennink Report present ambitious goals to help the EU biotech sector thrive. Unfortunately, nice words on paper do not fund start-ups or help companies scale – only actions do. It is time for bold moves. It is time to act now.

Through the challenges, we do see some positives too: the recent acquisition of Merus by Genmab, large funding rounds by Azafaros and Leyden Labs and the IPO of Dutch-tinted Agomab. At hollandbio, we continue to put effort in the best possible funding ecosystem for every stage of development, from early grants to M&A and IPO. We will remain committed to have more of these Dutch and European success stories in the future.

Do you have any questions or remarks on this Dutch Trend Analysis? Please reach out to hollandbio’s Max

(1). BiotechGate