The total funds raised by medical device companies classified as start-ups by Windhover's Strategic Intelligence Systems (SIS) in the first quarter this year was off 2004's pace, although the average size of each round increased significantly. (See Exhibits 1 & 2.) The lower total figure reflects the fact that only five device start-ups raised cash in the quarter, compared to eight in the same quarter of 2004.
While fundraising totals are down in the device world, observers should take heart; the trends are nowhere near as painful as in biotechnology, where total funding for start-ups in the...
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