Navigation Links
Midwest Health Care Startups Raise $572 Million Through Q3 2010
Date:10/28/2010

CLEVELAND, Oct. 28 /PRNewswire/ -- Midwest health care startups reported $572 million in total investments across 111 companies through the first three quarters of 2010, according to the BioEnterprise Midwest Health Care Venture Investment Report.  Similar to last year, while the total dollar levels are lower than the pre-recession years, the number of companies financed remains the same.  

(Logo: http://photos.prnewswire.com/prnh/20101028/DC90488LOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20101028/DC90488LOGO)

"Funding for health care is reduced due to the recession and concerns surrounding the impact of health care reform on innovation," said Baiju R. Shah, President & CEO of BioEnterprise.  "Given the broader environment, it is encouraging to see so many Midwest health care companies attracting capital."

Illinois and Ohio lead the way in dollars of financings with companies in those states attracting $148 million and $89 million.  Minnesota, Michigan, and Wisconsin followed those states.  The report aggregates venture investment in 9 Midwest states and Western Pennsylvania.  

By sector, the equity funding was as follows:

  • Biopharmaceutical companies: $345 million
  • Medical device companies: $190 million
  • Health care software and service companies: $37 million

  • The Midwest Health Care Venture Investment Report includes all reported numbers and regionally collected data. For complete state and region results across the Midwest, see the attached table.

    To view additional data about Midwest health care business activity visit http://www.bioenterprise.com/Reports.Table: Midwest Health Care Venture Investment (By State)StateThru Q3 2010Thru Q3  2009Thru Q3 2008Thru Q3  2007$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.Illinois147.7

    838.8

    578.2

    7100.5

    4Indiana23.2

    1373.9

    1169.1

    5129.3

    8Iowa-

    -14.3

    34.0

    1-

    -Kansas18.9

    43.0

    415.4

    5-

    -Kentucky10.5

    21.9

    217.9

    431.6

    4Michigan62.3

    788.7

    1190.0

    1064.9

    5Minnesota78.5

    10134.0

    16289.9

    20212.7

    17Missouri11.7

    365.2

    625.8

    669.6

    7Ohio*89.2

    38136.7

    45178.0

    37261.2

    35Western Pennsylvania 79.7

    1928.9

    21101.1

    1291.2

    15Wisconsin50.1

    79.9

    727.5

    639.7

    9Total571.7111593.0140896.71131,000.4104Table: Midwest Health Care Venture Investment (By Region)**RegionThru  Q3 2010Thru  Q3 2009Thru  Q3 2008Thru  Q3 2007$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.Chicago147.7

    838.8

    578.2

    7100.5

    4Indianapolis15.8

    739.2

    669.1

    5107.3

    6West Lafayette5.2

    334.7

    3-

    -22.0

    2Louisville10.5

    21.9

    213.4

    35.7

    2Detroit-Ann Arbor34.7

    570.8

    874.0

    864.9

    5Minneapolis78.5

    10133.3

    15289.9

    20212.7

    17St. Louis11.7

    325.1

    425.8

    657.6

    7Kansas City*18.9

    441.0

    515.4

    512.0

    1Cincinnati*7.5

    369.4

    719.2

    261.0

    7Cleveland77.6

    2555.3

    22152.4

    26212.0

    22Columbus3.1

    511.7

    126.4

    913.2

    7Pittsburgh 79.7

    1928.9

    21101.1

    1291.2

    15Wisconsin50.1

    79.9

    727.5

    639.7

    9* Border MSAs such as Kansas City and Cincinnati include deals from both states in those geographies; deals are aggregated into
    state totals based on the MSA's principal state**Regions' totals do not equal states as not all areas are included in list of regions Sources: Compiled by BioEnterprise team from Venture Wire, Private Equity Week, Wall Street Journal, Venture Source, SEC Filings,
    company press releases, www.biospace.com, and Midwest bioscience organizations and institutions.About BioEnterpriseBioEnterprise is a business formation, recruitment, and acceleration effort designed to support the growth of bioscience companies. Located in Cleveland, BioEnterprise provides management counsel and support services to health care companies. BioEnterprise partners are Case Western Reserve University, Cleveland Clinic, University Hospitals, Summa Health System, and the Austen BioInnovation Institute in Akron. Additional technology partners include the NASA Glenn Research Center, Cleveland State University, NorTech, and BioOhio.

    The initiative comprises the collective activities of BioEnterprise and its partners' commercialization offices:  the Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center - Center for Clinical Research and Summa Enterprise Group.  The combined efforts of these groups has created, recruited, and accelerated more than 95 companies in eight years.

    www.bioenterprise.com


    '/>"/>

    SOURCE BioEnterprise
    Copyright©2010 PR Newswire.
    All rights reserved

    Related biology technology :

    1. Midwest Research Institute Expands in Kansas to Support Regional Economic Development in Animal Health, Biosecurity, and Bioenergy Sectors
    2. Growing Midwestern Clinical Research Organization Selects OmniComm Systems to Provide eClinical Solutions for Phase IV Studies
    3. Ohio Bioscience Industry Leads Midwest, Among Best in Nation as Investment Destination
    4. BioSpace Showcases the Midwests Growing Life Science Region
    5. MPM Capital Opens Midwest Office
    6. Cellectis Plant Sciences Licenses Plant Transformation Technology From Midwest Oilseeds
    7. Monogram Biosciences to Present at the Thomas Weisel Partners Healthcare Conference 2008
    8. SCAN Health Plan Offers Seniors Five Tips to Prepare for Surgery
    9. Mergent, Inc. Announces Changes to the HealthShares(TM) European Drugs Index
    10. Concentric Medical(R) Announces Co-Marketing Agreement With InTouch Health(R) to Advance Acute Ischemic Stroke Care
    11. Mindray Medical to Attend Morgan Stanley Global Healthcare Unplugged Conference
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:6/23/2016)... Md. , June 23, 2016 A person ... from the crime scene to track the criminal down. ... the U.S. Food and Drug Administration (FDA) uses DNA evidence ... Sound far-fetched? It,s not. The FDA ... sequencing to support investigations of foodborne illnesses. Put as simply ...
    (Date:6/23/2016)... , June, 23, 2016  The Biodesign Challenge ... envision new ways to harness living systems and biotechnology, ... Art (MoMA) in New York City ... 130 participating students, showcased projects at MoMA,s Celeste Bartos ... Paola Antonelli , MoMA,s senior curator of architecture and ...
    (Date:6/23/2016)... ... , ... In a new case report published today in STEM CELLS Translational ... lymphedema after being treated for breast cancer benefitted from an injection of stem cells ... this debilitating, frequent side effect of cancer treatment. , Lymphedema refers to ...
    (Date:6/23/2016)... NEW YORK , June 23, 2016 ... the trading session at 4,833.32, down 0.22%; the Dow Jones ... the S&P 500 closed at 2,085.45, down 0.17%. Stock-Callers.com has ... INFI ), Nektar Therapeutics (NASDAQ: NKTR ... BIND Therapeutics Inc. (NASDAQ: BIND ). Learn more ...
    Breaking Biology Technology:
    (Date:6/22/2016)... , June 22, 2016  The American College of Medical ... Show Executive Magazine as one of the fastest-growing trade ... 25-27 at the Bellagio in Las Vegas ... highest percentage of growth in each of the following categories: ... companies and number of attendees. The 2015 ACMG Annual Meeting ...
    (Date:6/20/2016)... Securus Technologies, a leading provider of ... safety, investigation, corrections and monitoring announced that after ... secured the final acceptance by all three (3) ... Systems (MAS) installed. Furthermore, Securus will have contracts ... by October, 2016. MAS distinguishes between legitimate wireless ...
    (Date:6/9/2016)... , June 9, 2016 ... Police deploy Teleste,s video security solution to ensure the safety ... France during the major tournament Teleste, ... communications systems and services, announced today that its video security ... to back up public safety across the country. ...
    Breaking Biology News(10 mins):