While PricewaterhouseCoopers MoneyTree™ report for the second quarter (Q2) of 2012 shows a double-digit increase in venture capital investment activity over the first quarter of the year, investments in life sciences declined. In Q2 2012, $7 billion was invested overall in 898 deals, a 17-percent increase in dollars invested and 11-percent increase in the number of deals compared to Q1 2012. In the life sciences, investments apparently declined for the fourth consecutive quarter—biotechnology led the way with “the lowest quarterly total for the industry since the first quarter of 2003.” Overall investments in biotechnology and medical devices reportedly fell 9 percent in dollars and 6 percent in deals, a 29-percent decrease from the same time period in 2011. Still, the medical devices and equipment sector received its third-highest investment amount in Q2 with $700 million for 84 deals, an 11-percent increase in deals over Q1. See pwc.com, July 20, 2012; MedCityNews, August 15, 2012.