According to news sources, global and domestic biotech companies have been raising capital at a blistering pace, with initial public offering (IPO) and investment activity soaring in the second quarter (Q2) of 2013. In the United States, 13 of the 21 IPOs were issued by life sciences companies, including 11 in the biotechnology sector and two in medical or health care. Venture-backed IPOs in Q2 doubled those in the first quarter. Meanwhile, global biotech companies reportedly raised $6 billion in Q2, a 20-percent increase over the $5 billion raised in the first quarter. The total for the year exceeds the same period in 2012 by 37.6 percent. See Boston Business Journal, July 1, 2013; BioWorld Insight, July 8, 2013.