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Biotechs continue to beat out the techs for Venture Capital: area life sciences concerns require more money for testing, clinical trials.

Publication: San Diego Business Journal
Publication Date: 30-OCT-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
San Diego's vibrant biotechnology sector continues to capture the lion's share of venture capital funding, according to two recent surveys.

While the numbers deviate a bit because of different methodologies, the story remains the same: Life sciences firms continue to receive higher amounts of funding while venture-capital flows into technology and other industries declines.

Stan Fleming, managing partner of San Diego-based Forward Ventures, said the reason for biotech receiving greater investment is that research and development of drugs cost much more than it does for other products.

Running clinical testing trials takes years, and the cost for such trials begins at several million dollars, he said.

For the third quarter, 27 area startups received $292.5 million in venture funding, compared...

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