Biotech Snags $2.3 Billion Venture Capital Infusion in Q2

Venture capitalists invested roughly $2.3 billion in biotechnology companies in the second quarter of 2015, up 32 percent from the prior quarter — the largest quarterly investment in the sector since PwC began issuing its quarterly MoneyTree Report two decades ago.

Biotech had the second most deals — 126 — and the third highest total for dollars invested of the 17 industries featured in the report.

Overall, lifesciences investments — which include biotechnology and medical devices — totaled $3.1 billion on 201 deals in the second quarter, up from $2.2 billion and 200 deals in the first quarter. Support for lifesciences in the first half of the year — $5.3 billion versus $4.2 billion a year ago — puts the sector on target to beat 2014 venture capital investments.

Two of the four largest seed-stage investments went to neurodegenerative disease drug startup Denali Therapeutics of San Francisco, and cancer immunotherapy Aduro BioTech of Berkeley, Calif., with $217 million and $200 million invested, respectively. Another biotech firm, Seattle-based Adaptive Biotechnologies, was among the top six expansion-stage investments, receiving $195.1 million. — Kellen Owings