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Biotech faces investment downturn

Venture capital investment in the linkurl:biotechnology;http://www.the-scientist.com/article/display/15304/ sector appears to be one bright spot in an otherwise gloomy snapshot of the financial climate, according to recent data. But a strong third quarter belies a likely downtrend in biotech investment over the next couple quarters. According to PricewaterhouseCoopers' quarterly linkurl:MoneyTree Report,;https://www.pwcmoneytree.com/MTPublic/ns/nav.jsp?page=notice&iden=B which was released earl

Bob Grant
Bob Grant

Bob Grant is Editor in Chief of The Scientist, where he started in 2007 as a Staff Writer.

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Venture capital investment in the linkurl:biotechnology;http://www.the-scientist.com/article/display/15304/ sector appears to be one bright spot in an otherwise gloomy snapshot of the financial climate, according to recent data. But a strong third quarter belies a likely downtrend in biotech investment over the next couple quarters. According to PricewaterhouseCoopers' quarterly linkurl:MoneyTree Report,;https://www.pwcmoneytree.com/MTPublic/ns/nav.jsp?page=notice&iden=B which was released earlier this month, $2.2 billion in venture capital (VC) investments flowed into the biotechnology and medical device industries in the third quarter of 2008 - a 10% increase over 2008's second quarter numbers and a 21% increase in investments from the third quarter of 2007. linkurl:Michael Borrus,;http://www.ncwit.org/about.team.board.php?action=detail&biosID=24 founding general partner of Silicon Valley seed-stage venture fund X/Seed Capital, told __The Scientist__ that positive third quarter numbers represent deals that were started before the recent financial tailspin currently gripping US and world markets. Borrus said that the future would likely be less cheery. "I think it's predictable that anything...

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