A new PriceWaterhouseCoopers report says the total funding fetched by life science firms is the highest tally since Q3 of 2008; Medical Device industry fetched $755 million in 95 venture deals.
Venture Capital funding for medical device companies is 13 percent ahead of last years pace for the first six months in 2010, according to a PricewaterhouseCoopers report analyzing venture capital deals.
The financial firm said Medical Device companies fetched some $755 million on 95 deals in the second quarter, a 40 percent bump from Q1.
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Medical Therapeutics captured 58 percent of the deals and 68 percent of the dollars with $514 million going into 55 deals in the quarter, according to the report.
Medical diagnostics companies were the fastest growing segment with an 87 percent bump compared to the same period last year.
Meanwhile, surgical instrument companies fetched some $211 million in funding while pacemakers and drug delivery systems took in $34 million respectively, according to the report .
In another positive sign for the industry, the report said early stage medical device investing jumped by 25 percent during the quarter.
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PWC analysts said that the life science industry as a whole pulled in $2.1 billion in vc deals during the quarter, the highest tally since the third quarter of 2008, just before the economic crisis began.
Regionally, the San Francisco Bay area led the way with $698 million in life science deals, Boston came in second with $314 million, followed by San Diego Metro at $138 million, Orange County, Calif. with $108 million, and the North Carolina’s Research Triangle with $72 million.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
