| Cara
Therapeutics Biggest Q3 Venture Capital Stake
The largest single venture
capital investment in Connecticut in the third quarter of
2008 went to Shelton-based biotech Cara Therapeutics, 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 in Connecticut totaled almost $40 million for the
first three quarters of 2008. "Life Sciences" includes
biotechnology and medical devices and equipment.
Venture capitalists invested
over $414
million in Connecticut companies (all industries) during the
past eight quarters. Of that amount, over $269 million, or
65%, was invested in Connecticut Life Sciences companies.
"While overall venture
investing hasn't yet been impacted by the turmoil in the
financial markets, we do expect to see a dip in investing
over the next several quarters," said Tracy T.
Lefteroff, global managing partner of the venture capital
practice at PricewaterhouseCoopers, speaking of the venture
investment scene nationally. "We also do not
expect venture funding to dry up. Venture capitalists have
slugged through difficult economic times before."
Connecticut details are as follows.
CT Life Science Venture
Capital Investments: Detail by Quarter and Type
|
|
|
Company
|
$
|
|
2008 Biotech
|
Q3
|
Cara Therapeutics
|
12,300,400
|
|
Total
Q3
|
|
|
12,300,400
|
|
|
|
|
|
|
2008 Biotech
|
Q2
|
Optherion, Inc.
|
15,000,000
|
|
2008 Medical Device
|
Q2
|
SurgiQuest, Inc.
|
5,687,000
|
|
Total
Q2
|
|
|
20,687,000
|
|
|
|
|
|
|
2008
Biotech
|
Q1
|
Affomix
|
7,000,000
|
|
Total
Q1
|
|
|
7,000,000
|
|
|
|
|
|
|
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
|
1st
3Qs of 2008
|
|
|
Deals
|
$
|
Deals
|
$
|
Deals
|
$
|
|
Biotech
|
9
|
146,600,800
|
8
|
118,250,100
|
3
|
34,300,400
|
|
Medical
Devices
|
2
|
15,000,000
|
6
|
67,332,000
|
1
|
5,687,000
|
|
Other*
|
|
|
1 |
23,655,000 |
|
|
|
TOTAL
(Life Sciences)
|
11
|
161,600,800
|
15
|
209,237,100
|
4
|
39,987,400
|
* RainDance Technologies of
Guilford
CT Venture Capital
Investments by Quarter
|
Quarter
|
# of Deals
|
Investment
Amount
|
Life
Sciences Amount
|
% Life Sciences
|
| Q3
2008 |
8 |
$43.3
million |
$ 12.3 million
|
28%
|
| Q2
2008 |
9 |
$43.9
million |
$20.7 million
|
46%
|
| Q1
2008 |
8 |
$22.0
million |
$7.0
million
|
32%
|
| 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
|
|
|
|
