3Q venture financing rebounds
This article was originally published in Scrip
Executive Summary
Venture capital investment into the biotech drug discovery and development companies in the third quarter returned to historical levels following a strong September. The total amount of money put to work in the global sector during 3Q was about $1.46 billion. In the past five years, with the exception of last year, biotech companies were able to raise between $1.4 billion and $1.5 billion over the summer months. In 2009, the sector barely raised $1.1 billion.
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