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VC Roundup: 2Q Financings Fall As Per-Company Averages Rise

 
• By Mandy Jackson

Second quarter venture capital investment in biotech fell from the same period a year ago, but the total remains near record levels, since some early-stage companies have been able to raise big VC sums.

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US venture capital investment in biotechnology companies fell during the second quarter, but remained near recent record-breaking levels as investors continued to support larger funding rounds for some biotechnology startups – a trend that's ongoing in the third quarter with Series A rounds totaling $57m for Oncorus Inc. and $55m for Fulcrum Therapeutics.

A hundred biotech companies raised $1.7bn during the second quarter of 2016 compared with 127 that raised $2.1bn during the same period in 2015, according to the MoneyTree Report from the National Venture Capital Association (NVCA), PricewaterhouseCoopers (PwC) and Thomson Reuters. The second quarter of this year was the seventh-highest quarterly total for biotech VC investment in the US since the MoneyTree Report launched in 1995, but the numbers have been boosted by large investments in fewer companies

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