Venture capitalists pumped a record $9.1 billion into privately held U.S. biotechnology and medical device companies last year, in hopes of making discoveries they can sell to larger drugmakers.
Biotechnology and medical device companies raised 20 percent more cash in the U.S. last year than in 2006, according to a report by accounting firm PricewaterhouseCoopers and the National Venture Capital Association.
This bodes well for the development of rejuvenation therapies. Biotechnology is going to advance much more rapidly with lots of venture capital investments flowing into start-ups. The amounts of money getting invested suggests the venture capitalists think biotechnology has finally advanced far enough that it can really start delivering large returns on investment.
If you look at the chart on page 3 of the full report (PDF) you will see that the second quarter of 2007 (2Q 07) was a stronger quarter than 3Q 07 for venture capital investment overall and for biotechnology and for medical devices and equipment.
But you will also notice one category is leaping upward very rapidly: Industrial/Energy. It nearly doubled from $543 million in 2Q 07 to $921 million in 3Q 07. That puts it close to the $1,091 million for biotech in Q3 07. High oil prices are probably causing a shift of investment from biotech and other areas to energy. As we move past the peak of oil production and the world decline of available oil starts to take hold that shift could intensify. So Peak Oil is an obstacle to the development of rejuvenation therapies.
|Share |||Randall Parker, 2008 January 20 04:02 PM Biotech Advance Rates|