The second quarter saw start-ups raise the smallest venture capital haul in two years, as the number of mega rounds declined.
The first one-shot billion-dollar venture investment round in the medical technology sector has gone to Verily as computing bleeds into medicine.
In 2018 more than a quarter of medtech funding came from rounds in which corporate VCs took part.
Venture funding drops again, but there’s no need to panic yet.
Funds backed by drugmakers remain visible contributors to the venture world, but several of the big corporate names seem to have reined in spending.
Venture capital firms invested a record $16.8bn in private drug developers globally in 2018, but signs of a cooling are clear.
Investors swerve traditional medical devices in favour of artificial intelligence-enabled diagnostics.
Private biotechs received almost $4bn in venture financing in the third quarter, as the healthy financing climate showed few signs of deteriorating.
The first quarter of this year saw more venture funding raised by medical device groups than any other period since 2010.