Biotech Venture Funding Surges

Venture capital investment in the biotech industry surged in the second quarter of 2013 compared with the first quarter of the year, according to a new report from PricewaterhouseCoopers and the National Venture Capital Association. Although the number of deals rose just 4% to 103, the total amount invested grew 41% to $1.3 billion. Moreover, 33 companies in the life sciences sector, which encompasses biotech and medical devices, scored venture capital funding for the first time, up from 22 companies in the first quarter of 2013. “Life sciences investment is poised for a slow and steady recovery,” notes NVCA President Mark Heesen.