This edition of Orrick’s life sciences publication series breaks down the key drivers of venture investment in the life sciences industry, which is on track to set all-time records this year. Key findings include: • With three months to go, this year has already seen a record sum of VC invested in life sciences. 2020 saw $35.7 billion invested across 1,800 transactions; 2021 to date has seen $35.8 billion across 1,510 transactions. As the pace of dealmaking is slowing slightly, it remains to be seen if this year will also see a new record tally of completed financings.