The biotech industry in Europe is booming, with companies making groundbreaking medical advances, from oncology and gene therapy to immunology and rare diseases. But with so many companies rising and falling, it can be hard to track who’s leading the charge. To make life easier for business development professionals, investors, and anyone keen on biotech, we’ve put together a list of the Top 25 Most Valuable Biotech Companies in Europe for 2025, ranked by market cap valuation.
Let’s dive in!
Here it is in video format if you prefer to watch:
25. Medincell 🇫🇷
- Market cap: $491M (as of 27.01.2025)
- Location: Montpellier, France
Medincell is France’s most valuable biotech company. What’s remarkable about Medincell is that it’s not located in any of France’s major biotech hubs. Instead, the company is based along the Mediterranean coast—a beautiful location, no doubt, but also a place of innovation. The company specializes in long-acting injectable medicines, offering potential solutions for chronic conditions.
24. Basilea 🇨🇭
- Market cap: $562M (as of 27.01.2025)
- Location: Basel, Switzerland
Antibiotic resistance is an increasing problem, and Basilea is at the forefront of tackling it. As one of the leading anti-infective companies worldwide, Basilea has brought several innovative drugs to market. The company continues to make strides in combating drug-resistant bacteria.
23. Autolus 🇬🇧
- Market cap: $630M (as of 27.01.2025)
- Location: London, UK
Autolus received FDA approval for its innovative CAR-T oncology treatment in 2023, following positive phase two trial data. Founded by top-tier venture capitalists, the company has come a long way in just ten years, and its CAR-T therapies could reshape cancer treatment.
22. Pharming Group 🇳🇱
- Market cap: $633M (as of 24.02.2025)
- Leiden, Netherlands
Pharming Group is one of the oldest biotech companies on this list, founded back in the 1980s. Over the years, Pharming has developed and brought to market groundbreaking treatments, including a life-saving drug for rare genetic conditions, and continues to expand its pipeline.
21. Immatics 🇩🇪
- Market cap: $668M ( as of 27.01.2025)
- Tübingen, Germany
Immatics specializes in T-cell receptors (TCRs) and has made significant strides in immunotherapy. With bispecific antibodies in phase three and promising TCR therapies, the company is positioning itself as a leader in the immuno-oncology space.
The founder, Harpreet Singh, was on the show recently for episode 20, so please feel free to check it out.
20. uniQure 🇳🇱
- Market cap: $840M (as of 27.01.2025)
- Location: Amsterdam, Netherlands/Boston, USA
uniQure is famed for bringing the world’s first commercial gene therapy to market, a groundbreaking achievement that placed the company on the map. Though the road hasn’t been without challenges, uniQure is back on track and in good shape for future growth.
19. Pharvaris 🇨🇭
- Market cap: $853M (as of 25.02.2025)
- Location: Zug, Switzerland
A relative newcomer to the biotech scene, Pharvaris was founded by the team that successfully exited to BioMarin in 2015. With a promising pipeline, including treatments for rare diseases, Pharvaris is quickly gaining attention from investors and the medical community.
18. CureVac 🇩🇪
- Market cap: $863M (as of 27.01.2025)
- Location: Tübingen, Germany
CureVac is best known for its pioneering work in mRNA therapeutics, alongside companies like Moderna and BioNTech. However, CureVac’s focus extends beyond COVID-19 vaccines. With a solid pipeline of RNA-based therapies, this company is reshaping how we approach disease treatment.
We had the founder, Ingmar Hoerr, on the show, where we went in-depth into the story of the company, from a garage to a large biotech.
17. Bicycle Therapeutics 🇬🇧
- Market cap: $896M (as of 27.01.2025)
- Location: Cambridge, UK
Founded by Nobel laureate Greg Winter, Bicycle Therapeutics is making waves with its unique approach to antibody-based therapies. The company’s proprietary technology is now being tested in phase three trials, and it could become a game-changer for oncology treatments.
16. Owkin 🇫🇷
- Market cap: >$1B | $300M raised (as of Sep 2023)
- Location: Paris, France/NYC, USA
Owkin is the only private company on this list, but it is valued at over $1 billion following a massive fundraising round. Specializing in AI-driven drug discovery, Owkin’s potential to transform the drug development process is immense, and the company is on track to make significant strides in healthcare.
The founder, Thomas Clozel, was on the show, so please feel free to check out the episode.
15. Evotec 🇩🇪
- Market cap: $1.5B (as of 27.01.2025)
- Location: Hamburg, Germany
Evotec straddles the line between a contract research organization (CRO), contract development and manufacturing organization (CDMO), and a biotech powerhouse. With numerous collaborations and asset development initiatives, Evotec is one of Europe’s most exciting companies.
We had Werner Lanthaler, the former CEO, on the show as guest number two, so please feel free to check out the episode.
14. BioArctic 🇸🇪
- Market cap: $1.5B (as of 27.01.2025)
- Location: Stockholm, Sweden
BioArctic is one of the only biotech companies globally to bring a disease-modifying drug to market for Alzheimer’s disease. This breakthrough puts BioArctic in a prime position as demand for innovative Alzheimer’s treatments continues to grow.
Their CEO, Gunilla Osswald, was on the show at the end of 2024. Feel free to check out the video to discover more about the company.
13. Galapagos 🇧🇪
- Market cap: $1.6B (as of 27.01.2025)
- Location: Mechelen (Brussels), Belgium
Galapagos was once one of Europe’s shining biotech stars. However, the company has faced turbulence in recent years. Recently, former J&J CSO Paul Stoffels joined the company in a bid to turn things around, and it’s currently in a critical phase of transformation.
12. Oxford Nanopore 🇬🇧
- Market cap: $1.7B (as of 27.01.2025)
- Location: Oxford, UK
Oxford Nanopore is the only “tools” company on our list, but its revolutionary portable sequencer is changing the way genetic data is collected and analyzed. The company plays a crucial role in developing new therapeutic approaches, particularly in genomics and precision medicine.
11. Immunocore 🇬🇧
- Market cap: $1.7B (as of 27.01.2025)
- Location: Oxford, UK/Washington, USA
Immunocore has established itself as a leader in TCR-based therapies and bispecific antibodies. With a strong portfolio and a focus on oncology, the company is continuing to evolve and grow as a key player in cancer treatment.
Their CEO, Bahija Jallal, was on the show, so please feel free to check out the episode.
Top 10 Biotech Companies in Europe for 2025
10. Bavarian Nordic 🇩🇰
- Market cap: $2.2B (as of 27.01.2025)
- Location: Copenhagen, Denmark
Bavarian Nordic is a leader in vaccine development, with several products already on the market. With roots in both Germany and Denmark, the company is well-positioned to continue its success in immunology and infectious diseases.
9. Merus 🇳🇱
- Market cap: $2.8 (as of 27.01.2025)
- Location: Utrecht, Netherlands/Boston, USA
Merus specializes in bispecific antibodies, an innovative approach to cancer treatment. With its lead therapy in phase three trials, the company is at the cutting edge of oncology research and poised for significant breakthroughs.
8. MoonLake 🇨🇭
- Market cap: $2.9B (as of 27.01.2025)
- Location: Zug, Switzerland
A newcomer founded in 2020, MoonLake is already one of Europe’s top biotech companies. Specializing in nano body-based therapies, its lead asset is currently in phase three, and the results could set the company up for major success in 2025.
7. Camurus 🇸🇪
- Market cap: $3.0B (as of 27.01.2025)
- Location: Lund, Sweden
As Sweden’s most valuable biotech company, Camurus stands out with its unique platform for the sustained release of therapies. With multiple products on the market, Camurus is a key player in both the biotech and pharmaceutical industries.
6. Verona Pharma 🇬🇧
- Market cap: $5.21 (as of 19.02.2025)
- Location: London, UK
Verona Pharma is the UK’s most valuable biotech company, and it’s gaining significant attention with its novel treatment for chronic respiratory diseases. Its lead product has blockbuster potential, and Verona is poised for rapid growth.
4. Zealand Pharma 🇩🇰
- Market cap: $7.8B (as of 27.01.2025)
- Location: Copenhagen, Denmark
Zealand Pharma is a leader in the field of obesity treatment. With a promising phase three asset partnered with Boehringer Ingelheim, the company has the potential to make a significant impact in the growing obesity market.
4 (again). Ascendis Pharma 🇩🇰
- Market cap: $7.8B (as of 27.01.2025)
- Location: Copenhagen, Denmark
Ascendis Pharma shares the same valuation as Zealand Pharma, claiming its spot at number four. The company is known for its pioneering work in rare diseases, and its innovative delivery platform is making waves in the biotech world.
3. Genmab 🇩🇰
- Market cap: $13.9B (as of 27.01.2025)
- Location: Copenhagen, Denmark
Genmab, headquartered in Copenhagen but with a large research site in Utrecht, is a global leader in antibody development. With several blockbuster therapies under its belt, the company continues to push the boundaries of immuno-oncology, setting the stage for more breakthroughs in the years to come.
2. BioNTech 🇩🇪
- Market cap: $28.3B (as of 27.01.2025)
- Location: Mainz (Frankfurt), Germany
BioNTech doesn’t need much of an introduction—its mRNA COVID-19 vaccine put the company on the global map. But BioNTech is much more than a vaccine company. With a strong focus on oncology, BioNTech has numerous late-stage assets in development that could change the future of cancer treatment.
Its former COO, Sean Marett, was on the show recently, so please feel free to check out the episode.
1. Argenx 🇧🇪
- Market cap: $39.0B (as of 27.01.2025)
- Location: Ghent (Brussels), Belgium
At the top of the list is Argenx, Europe’s most valuable biotech company in 2025. With one approved drug on the market and several more in the pipeline, Argenx is leading the charge in immunology and is addressing significant unmet medical needs.
Biotech looking to the future
These top 25 biotech companies represent the cutting edge of European innovation, each contributing to the fight against serious diseases and shaping the future of healthcare. Whether you’re an investor looking for the next big opportunity or simply a biotech enthusiast, these companies are sure to be at the forefront of medical advancements in 2025 and beyond.
Stay tuned to follow these incredible innovators and see where the next breakthroughs will come from!