Venture capital funding of biotechnology companies has jumped 46 percent in 2011’s second quarter, attracting $1.2 billion in 116 deals, according to a MoneyTree® Report released by PricewaterhouseCoopers LLC (PwC) and the National Venture Capital Association (NVCA). Medical device and equipment makers reportedly saw investments gain by 26 percent, raising $841 million in 90 deals.

According to a news source, the top three biotech deals reportedly involved Cameron Health Inc., a California-based medical device maker, which received $107 million; Virginia’s Intrexon Corp., a synthetic biology company that garnered $100 million; and Massachusetts-based Merrimack Pharmaceuticals Inc., which received $77 million.  

Ranking second behind the software industry, biotechs are evidently looking to replenish their portfolios after increases in acquisitions and initial public offerings (IPOs). “We continue to see acquisitions by major pharma and large biotech companies of smaller biotech companies, as well as the return of IPOs to the sector,” venture capitalist Tracy Lefteroff was quoted as saying. “For funds that are fortunate to have those exits, that allows them to recycle money and put it into other deals.” See PwC/NVCA Press Release and Bloomberg, July 20, 2011.