Who says there isn't room for health-related companies in the city's startup scene?
Two of the top three recent venture capital deals were classified in a report as biotechnology, and the sector landed a much bigger pot of cash than usual. The amount invested in the biotechnology deals rose to $54.8 million in the first quarter, up 13% versus the fourth quarter of 2011, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. There were five biotech deals in the first three months of 2012, down from eight in the preceding quarter.
Overall, the region's venture cap funding was down. The total number of deals in the New York metro area dropped 11% to 75 from the last quarter, and the amount invested fell 34%, to $378.3 million. For the larger New England area, funding shrank a less-severe 14.6%, to $677.9 million.
To read the full, original article click on this link: Biotech takes bigger bite of venture funding | Crain's New York Business
