Global venture capital investing in biotech companies dropped to $550 million in the second quarter, a 43 percent fall from the first quarter, and the weakest quarter for biotech venture capital in five years, according to a Bloomberg Industries analysis.
Just 59 deals were announced in the second quarter. At an average of $9.3 million per deal, they were the smallest biotech venture capital financings since 2007, according to Bloomberg, with the majority coming in below $30 million.
In the biotech hotbed of Boston and Cambridge, Third Rock Ventures was among the most prolific biotech venture capital investors, participating in at least three Series A deals.
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