Biotech Investing in Philadelphia Surges
Filed in archive Biotech Hubs and Facilities , Corporate and Industrial News by ruth on July 25, 2006

region.Two local companies, Tengion Inc. and Cardiokine Inc., were among the 10 biggest U.S. venture-capital investments across the country, receiving $50 million and $49.9 million, respectively, according to a quarterly survey released yesterday.
The article also points out that more than $200 million were invested in 26 local companies in the last quarter, $193.6 of which went to biotechnology companies.
"Funding for start-up biotech companies more than tripled from the first quarter," said Tracy Lefteroff, global managing partner of PricewaterhouseCoopers venture-capital practice. The "record-breaking number of biotech companies' receiving funding makes it abundantly clear that venture capitalists recognize the long-term viability of the industry."
See the full article here.
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