In­vestors can't seem to get enough of biotech stocks.

Over a 24-hour pe­ri­od, on Mon­day evening and Tues­day morn­ing, sev­en dif­fer­ent bio­phar­ma com­pa­nies an­nounced plans to raise a to­tal of $2.3 bil­lion through stock sales, of­fer­ing shares to in­vestors af­ter an­nounc­ing pos­i­tive da­ta in every­thing from obe­si­ty to sick­le cell dis­ease.

The eq­ui­ty of­fer­ings are be­ing made in­to a biotech mar­ket that has now been ris­ing for months, march­ing up­wards from a year-long slump that fol­lowed the pan­dem­ic. On Mon­day, the S&P biotech in­dex hit lev­els it has­n't seen since 2021, in the midst of the Covid-19 pan­demic's en­thu­si­asm for the sec­tor.

Just a month af­ter an­nounc­ing a deal with Eli Lil­ly to work on RNAi drugs for meta­bol­ic dis­eases, Chi­na's Sa­ne­geneBio has dis­closed a $110 mil­lion Se­ries B round to fund its work.

Like a grow­ing num­ber of star­tups, San­gene has split its op­er­a­tions be­tween the US and Chi­na, with an of­fice in the Boston area, drug dis­cov­ery work in Suzhou, Chi­na, and a clin­i­cal op­er­a­tions cen­ter in Shang­hai. It cur­rent­ly has about 85 em­ploy­ees. Its deal with Lil­ly could be worth as much as $1.2 bil­lion.

The new round, which was backed by Lil­ly as well as Sino Bio­pharm, In­vus, Qim­ing Ven­ture Part­ners and more than 10 ad­di­tion­al in­vestors, adds to $150 mil­lion the com­pa­ny has al­ready raised, Marc Abrams, chief tech­nol­o­gy of­fi­cer and head of US op­er­a­tions, told End­points News.

Af­ter more than two years of pitch­ing in­vestors, a Lon­don up­start with two cur­rent em­ploy­ees has pulled through with a $33 mil­lion Se­ries A to see if it can crack in­to a rel­a­tive­ly niche pock­et of the gene ther­a­py field.

The gene ther­a­py space, once a mega-pop­u­lar area of biotech R&D, has been wrestling with fund­ing con­straints and com­mer­cial co­nun­drums in re­cent years. But some star­tups are still reel­ing in mon­ey, and Epilep­syGTx was able to con­vince in­vestors of the po­ten­tial of its pipeline of three can­di­dates for fo­cal re­frac­to­ry epilep­sy.

XGEN Ven­ture, the British Busi­ness Bank and an undis­closed glob­al bio­phar­ma con­tributed to the raise, the biotech told End­points News on Tues­day.