Venture-capital funding in biotechnology companies jumped 46 percent in the second quarter, as investors looked to replenish their portfolios after an increase in acquisitions and initial public offerings.
Venture-capital investing across all sectors rose 19 percent to $7.5 billion in 966 deals, compared with $6.3 billion and 814 deals in the first quarter of 2011, the National Venture Capital Association and PricewaterhouseCoopers LLC said today in a report. The three months that ended June 30 represented the biggest quarter for venture funding in two years.
Biotechnology companies attracted $1.24 billion in 116 deals, ranking second behind software makers, who earned $1.52 billion, a 35 percent jump, in 254 deals. Biotech garnered about $847 million in 97 first-quarter investments. Funding for medical device and equipment makers gained 20 percent to $841 million in 90 deals.
To read the full, original article click on this link: Venture Capital Funding Increases 46% as Biotechnology Regains Favor - Bloomberg
Author: Ryan Flinn
