US life sciences VC deals up in value but down 9% in volume
Venture capitalists in the USA invested $5.9 billion in 736 deals in the first quarter of 2011, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters. Quarterly investment activity increased 5% in terms of dollars but fell 11% in number of deals compared to the fourth quarter of 2010 when $5.6 billion was invested in 827 deals.
The quarterly deal count represents the lowest number of deals in a single quarter since the third quarter of 2009. However, the first quarter of 2011 marks the first time in four years that the amount invested in the first quarter has shown an increase over the fourth quarter investment amount.
The Life Sciences sector (biotechnology and medical device industries combined) saw an increase in venture capital dollars invested during the first quarter, rising 16% but falling 9% in deal volume from the prior quarter to $1.4 billion going into 164 deals.
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