J.K. Wall reports in the Indianapolis Business Journal that the flow of venture capital deals in Indiana’s life sciences industry has picked up considerably from this point in 2009: Through the first 6 months of this year, nine Hoosier bioscience firms have attracted venture investment, up from just four venture-backed companies during the first half of 2009.
Wall notes that while the number of deals has increased, the amount invested per deal has dropped somewhat. We are confident that total venture dollars invested in promising life sciences opportunities will continue to grow as dollars from BioCrossroads’ $58 million INext Fund are distributed to its partner venture funds to be leveraged into investments in specific companies.
The overall venture market in Indiana continues to be a bright spot in the general economic picture, and we hope a leading indicator of an entrepreneur- and innovation-fueled recovery. From 2007 to 2008, total venture investment in Indiana grew 40%, and from 2008 to 2009 increased another 70%, while national VC totals decreased over the last two years. From 2008 to 2009, the Hoosier State leapt from 41st to 20th among states in venture investment per capita.
Putting these trends together, it seems fair to predict that as more promising life sciences start-ups choose to seek private equity financing, the funds will be available to capitalize on our homegrown scientific breakthroughs and lifesaving innovations. And for a state that’s already seen life sciences employment grow by more than 17% (outpacing the national average) since 2001, it’s a promising sign for continued success.
Powered by Compendium
Comments for Indiana sees boom in life sciences venture deals