Despite the Recession, VC funding is up for 2Q 2009

11 Aug Despite the Recession, VC funding is up for 2Q 2009

Posted at 12:39h in Biotech, Commentary, Venture Capital by

OnBioVC.com recently reported on the trends of international VC bioscience funding for the 2Q 2009 and found that there were 88 financings for 2Q09 versus 71 deals in 2Q08. The combined second quarter 2009 bioscience investment totaled approximately $1.7B, an increase of roughly $538.2M compared to the second quarter of 2008, or a ~31% boost.
Other tidbits follow:

  • The largest deal of 2Q09 went to Boulder, CO-based Clovis Oncology which closed a $145M Series A financing (really!).
  • In the three month period , 11cardiovascular device deals closed, accounting for $178.9M
  • There were 41 total device deals representing 47% of 2Q09 financing.
  • California continued its dominance in attracting investment dollars. The state was home to 22 financings for 2Q09 for a total of $493.2M.
  • After California, the next most active region was outside the US where 13 financings brought in $167.5M in investment.
  • The biopharma sector attracted the most investment dollars ($868.2M), narrowly out-raising medical device deals ($743.6M).
  • Biofuels accounted for $85.0M and diagnostic deals raised $16.8M.

Read the entire report here.
Recent columns by Steve Clark

Steve Clark, Ph.D., a former professor and medical researcher at the University of Wisconsin School of Medicine and Public Health, is a free-lance writer and consultant on biotechnology issues. His blog BioScience Biz can be read at http://stevensclark.typepad.com/bioscience_biz
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