Q1 life science venture capital funding totaled nearly
half of 2017’s record total; highest quarter in over 5 years
- Robust funding is a crucial lifeline to the growing life science industry, supporting innovation and research fundamentals. The private sector equity financing remained strong in Q1 2018 after a record 2017 with life sciences venture capital funding producing 39 transactions totaling over $1.1 billion (average of $28 million per deal).
- Q1 2018 venture capital funding is off to a red-hot start, with investors continuing to exhibit their confidence in the San Diego life science cluster. Q1 VC funding totaled $490 million (average of $35 million per deal), up 420 percent from Q1 2017 at $95 million. The three top biotechnology companies that secured funding in this time frame included: Gossamer Bio., Crinetics Pharmaceuticals, and Vividion Therapeutics, totaling $265 million.
- San Diego is a hotbed for life science companies; over 1,100 businesses that have access to a high talent pool with 57 percent of undergraduates enrolled at UCSD in Science, Technology, Engineering, and Mathematics (STEM) majors. San Diego County’s universities produce more than 7,000 STEM graduates annually, contributing to San Diego’s 36.5 percent growth in Biotechnology and Technology companies’ employment in the last 10 years.
Senior Research Analyst
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