US capital funding for the Life Sciences sector, which includes biotechnology and medical devices, increased in value but declined in volume on a year-over-year basis during the fourth quarter of 2014.
Overall, investments for full year 2014 in the Life Sciences sector rose to the highest level since 2007 with $8.6 billion invested into 789 deals.
Regional funding trends: During the fourth quarter of 2014, two cities–Boston and Chicago—and three regions—the San Francisco Bay Area, New York Metro, and Research Triangle—received the most life sciences venture capital dollars.
The leader, Boston, received $959 million in funding during the quarter, with $928 million going into biotechnology and the remaining $31 million invested in medical devices. Boston closed 32 deals during the quarter, with an average size of $30 million.
Further reading:MoneyTree™ venture capital funding: Biotech trending high