Venture Capital Funding Quarterly
Biotechnology • Pharmaceuticals • Medical Devices
2nd Quarter, 2008 – United States
Published by: VentureDeal
Life Science companies secured $2.27 billion in venture capital financing during the second quarter of 2008, representing a 3% decrease versus the first quarter. The funding was allocated between 208 companies, a 6% increase over the previous quarter in the aggregate.
Medical Devices received the most amount of funding by a wide margin as in Q1 08, raising $966 million among 92 companies. Pharma came in second with $696 million, representing a 14% decrease versus the previous quarter. Biotechnology startups received $605 million between 64 companies.
Biotechnology funding stabilized during the quarter at roughly the same level as Q1 08. The largest venture financing during the quarter was Kythera Biopharmaceuticals' $40 million third round. The company said it would use the proceeds to complete phase II trials for its lead product ATX-101. It has three ongoing studies to evaluate its safety and effectiveness for the reduction of submental fat and subcutaneous lipomas.
Other notable activity in the space included the following large series A financing events:
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