Venture cash raised by private drug developers dipped slightly after two record-breaking quarters, but the party is far from over.
Fortunately for medical device start-ups, it takes more than a pandemic to put venture capitalists off doing deals.
A handful of huge financings helped start-ups raise a record $5.4bn in the second quarter as investors brace for tougher times.
First-quarter venture investments barely register the pandemic - huge cash reserves should protect funding for biotech start-ups this year.
Private drug developers raised less last year than in 2018, but cash remains plentiful and mega rounds abound.
2019’s medtech VC total is swollen by the sector’s first $1bn round, but counterintuitively the amount going to smaller groups is increasing.
The latest venture capital numbers suggest that 2019 will see a healthy amount raised, but the falling number of rounds could be a worry.
The biotech financing scene in Europe continues to be dwarfed by the US, but on some measures the region is on an even footing.
The second quarter saw start-ups raise the smallest venture capital haul in two years, as the number of mega rounds declined.