A Pricewaterhouse Coopers LLP and National Venture Capital Association MoneyTree™ report, based on Thomson Reuters data, shows that biotechnology was the second largest investment arena for venture capitalists during the past two years. More than $4 billion supported 470 deals for an 8-percent increase. The first quarter of 2014 is also on pace with more than 112 such deals completed. The leading areas of interest for corporate and venture funds were, in order, oncology, central nervous system diseases, anti-infectives, metabolic diseases, dermatology, and cardiovascular diseases. According to the report, the venture capitalist is sometimes a pharmaceutical company; some of the largest have separate funding arms that extend their reach into the global scientific community and create the relationships that can complement and expand internal research and development efforts. See Genetic Engineering & Biotechnology News, June 20, 2014.