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Article: Booster shot for state's biotechs; VC investment still lags for health care startups.(Briefs)
- Article from:
- Crain's Chicago Business
- Article date:
- February 25, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MIKE COLIAS
Illinois health care startups have gotten a shot in the arm recently.
Local biotechnology and medical device firms pulled in $125.5 million in venture capital and other investments last year, according to Cleveland-based Bio-Enterprise Corp., a non-profit research and advocacy group. That's up 24% from 2006 and more than triple the $39.2 million invested in 2005.
The increasing money flowing to health care startups is encouraging for boosters of the local biotech sector, which largely has missed out on the industry's sharp growth over the last two decades as venture capital flowed to coastal areas like San Francisco and ...