Food for Thought: Big Jump in VC-backed US Biotech Funding

In the US, venture capital funding in biotechnology companies jumped 46 percent in the second quarter, according to a report by the National Venture Capital Association and PricewaterhouseCoopers LLC.

Biotechnology companies attracted $1.24 billion in 116 deals (about $847 million in 97 first-quarter investments), adding up to about $2.1 billion and 213 deals in the first half of this year. Funding for medical device and equipment makers gained 26 percent to $841 million in 90 deals in the second quarter .

At least 33 U.S. biotechnology companies were acquired during the first half of the year, for a total of $26.7 billion.