N.E. health, biotech firms see 44% boost in VC

BOSTON – A report from PricewaterhouseCoopers shows 2006 was a near-record year for venture capital investment in New England biotechnology, health care services and technology, and medical devices and equipment companies.

A total of $1.26 billion was invested in 119 such deals, a 44-percent increase in dollar value and 21-percent jump in deal volume over 2005, the study found.

“The robust venture capital funding totals during 2006 confirmed New England’s leadership in biotechnology and other health industries,” Gerry McDougall, leader of PricewaterhouseCoopers’ health sciences practice, said in a news release.

“The combination of leading university research centers, outstanding teaching hospitals and a super-cluster of talent makes the region a magnet for the health industries,” McDougalladded.

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The top five deals were in Massachusetts, the report said, but Rhode Island has also seen heightened venture-capital investment in these sectors.

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