| Optherion
Biggest CT Venture Capital Draw in Q2
The largest single venture
capital investment in Connecticut in the second quarter of
2008 went to Branford-based biotech Optherion, according to
the MoneyTree™ report from PricewaterhouseCoopers and the
National Venture Capital Association, based on data provided
by Thomson Reuters.
Venture capital investment
in the Life Sciences totaled more than $40 million for the
first half of 2008. "Life Sciences" includes
Biotechnology and Medical Devices & Equipment.
Separately, for the fiscal year ending
June 30, Connecticut Innovations invested $11.5 million in
18 companies, up from $6.9 million in the 2007 fiscal year,
the latter amount not including a $4 million loan to Cara
Therapeutics that year to induce the company to relocate to
Shelton.
Financiers invested $43
million in Connecticut companies (all industries) in the
second quarter – double the amount from the first quarter,
but still among the bottom third of quarterly figures since
the technology economy last bottomed out in 2002. The
state’s $65 million in first-half venture capital (all
industries), the lowest total of any first half since 1996,
was capped by no venture-backed company nationally holding
an initial public offering of stock in the second quarter,
the first IPO-less quarter in 30 years.
Details are as follows.
CT Life Science Venture
Capital Investments: Detail by Quarter and Type
|
|
|
Company
|
$
|
|
2008 Biotech
|
Q2
|
Optherion, Inc.
|
15,000,000
|
|
2008 Medical Devices
|
Q2
|
SurgiQuest, Inc.
|
4,750,000
|
|
Total
Q2
|
|
|
19,750,000
|
|
|
|
|
|
|
2008
Biotech
|
Q1
|
Pequot
EnzymeRx
|
14,000,000
|
|
2008
Biotech
|
Q1
|
Affomix
|
7,000,000
|
|
Total
Q1
|
|
|
21,000,000
|
|
|
|
|
|
|
2007
Biotech
|
Q1
|
RainDance
Technologies
|
23,655,000
|
|
2007
Biotech
|
Q1
|
Cara
Therapeutics
|
5,000,000
|
|
2007
Biotech
|
Q2
|
Spine
Wave
|
45,000,200
|
|
2007
Biotech
|
Q2
|
BioRelix
|
25,750,200
|
|
2007
Biotech
|
Q3
|
Optherion
|
10,000,000
|
|
2007
Biotech
|
Q3
|
Genomas
|
2,500,000
|
|
2007
Biotech
|
Q3
|
REN
Pharmaceuticals
|
1,000,000
|
|
2007
Biotech
|
Q4
|
Optherion
|
26,999,700
|
|
2007
Biotech
|
Q4
|
Carigent
Therapeutics
|
2,000,000
|
|
Total
Year
|
|
|
141,905,100
|
|
|
|
|
|
|
2007
Medical Devices
|
Q1
|
Stevens
Proof of Concept
|
500,000
|
|
2007
Medical Devices
|
Q1
|
Applied
Spine Technologies
|
15,000,000
|
|
2007
Medical Devices
|
Q2
|
Applied
Spine Technologies
|
13,000,000
|
|
2007
Medical Devices
|
Q3
|
HistoRx
|
6,552,000
|
|
2007
Medical Devices
|
Q4
|
Ikonisys
|
20,000,000
|
|
2007
Medical Devices
|
Q4
|
HistoRx
|
2,280,000
|
|
Total
Year
|
|
|
67,332,000
|
| Total
2007 Life Science |
|
|
209,237,100 |
CT Life Science Venture
Capital Investments by Type
|
|
2006
|
2007
|
2008
H1
|
|
|
Deals
|
$
|
Deals
|
$
|
Deals
|
$
|
|
Biotech
|
9
|
146,600,800
|
8
|
118,250,100
|
3
|
36,000,000
|
|
Medical
Devices
|
2
|
15,000,000
|
6
|
67,332,000
|
1
|
4,750,000
|
|
Other*
|
|
|
1 |
23,655,000 |
|
|
|
TOTAL
(Life Sciences)
|
11
|
161,600,800
|
15
|
209,237,100
|
4
|
40,750,000
|
* RainDance Technologies of
Guilford
CT Venture Capital
Investments by Quarter
|
Quarter
|
# of Deals
|
Investment
Amount
|
Life
Sciences Amount
|
% Life Sciences
|
| Q2
2008 |
9 |
$43.0
million |
$19.8 million
|
46%
|
| Q1
2008 |
8 |
$36.1
million |
$21.0
million
|
58%
|
| Q4 2007 |
10 |
$75.6
million
|
$61.3
million
|
81%
|
| Q3 2007 |
8 |
$37.8
million
|
$20.1
million
|
53%
|
| Q2 2007 |
8 |
$102.8
million
|
$83.8
million
|
82%
|
| Q1 2007 |
7 |
$
49.8 million
|
$44.2
million
|
89%
|
| Q4 2006 |
6 |
$39.3
million
|
$20.1
million
|
52%
|
|
Q3 2006
|
10
|
$56.4
million
|
$21.5
million
|
38%
|
|
Q2 2006
|
9
|
$111.7
million
|
$68.7
million
|
62%
|
|
Q1 2006
|
6
|
$56.6
million
|
$51.3
million
|
91%
|
CT Venture Capital
Investments by Year
|
Year
|
# of Deals
|
Investment
Amount
|
Life
Sciences Amount
|
% Life Sciences
|
| 2007 |
33
|
$266.0
million
|
$209.2
million |
77% |
| 2006 |
31
|
$263.9
million
|
$161.6
million |
61% |
|
2005
|
31
|
$192.8
million
|
|
|
|
2004
|
32
|
$195.9
million
|
|
|
|
2003
|
34
|
$203.8
million
|
|
|
|
2002
|
38
|
$182.7
million
|
|
|
| 2001 |
70
|
$549.8
million
|
|
|
|
