Start-Up Quarterly Statistics, Q1 2010

In the first quarter of 2010, biopharma, medical device and in vitro diagnostics start-ups raised a total of $331 million, a 66% drop from the previous quarter's $976 million, and a 52% slide from Q1 2009. The decline from Q4 can be attributed to a decrease in the number of transactions and the fact that there were fewer big financings. Of the total Q1 fundraising, 70% or $232 million came out of the biopharmaceutical industry. As was the case in Q4 2009, Series B rounds dominated in the biopharma and device sectors. ( See Exhibit 1.)

Once again, large-molecule-focused start-ups were active in the fundraising department. Alnara Pharmaceuticals Inc. was one of eight raising money...