Great news from the third-quarter Minnesota Life Science Investment Report. Companies in this sector are raising money and this investment is on pace in Minnesota to surpass a five-year high. The report comes from trade group LifeScience Alley.
During the third quarter, the state's Life Science investment totaled $113.6 million, bringing 2014 to nearly $300 million total. Companies raising money are in med device; pharmaceuticals, health information technology and other related life science fields.
Five companies alone raised $10 million or more in the third quarter. Eighteen companies altogether raised money during the third quarter.
Here are some other key facts from the recently-released Life Science Investment Report.
- Pharma & Health IT See Increase in Dollars Invested
- The major increase during the third quarter in pharmaceutical funds invested was driven by a $25 million raise by Rebiotix. View the Greater MSP Business interview with Lee Jones, a Rebiotix founder.
Composition of Investment Size Shifts to Larger Deals
- The majority of deals were greater than $1 million during the third quarter. The percent of deals larger than $5 million rose five percentage points to 33 percent from a year earlier.
Median Investment Size Reaches High Point
- The median deal size for Q314 is $3.2 million, a five-year high.
Medical Device Investment Remains Strong
At approximately $216 million, the medical device sector saw its highest level of investing in Q1-Q3 of 2014 compared to the same period for the last five years.