Angel investors steering more funds to biotech

New figures on angel investing show that the seed capitalists are making a comeback and play a big role in biotechnology. Biotech tied with software as the number two category drawing angel investors' money, just behind the 21 percent claimed by healthcare services and devices. The Center for Venture Research at the University of New Hampshire says that total angel investing in the U.S. hit $25.6 billion last year, up 10.8 percent from the year before. And angel investing in the U.S. has been climbing steadily since 2002, when the dot-com bust engineered a lull. Even though drug development takes years to achieve an approval, analysts say that angels like the fact that they don't have to stay with a company for years before collecting.

- check out the release on angel investors
- read the Red Herring report

ALSO: The global pharma market grew 7 percent last year, according to IMS Health, hitting $643 billion. Medicare Part D helped boost U.S. sales by 8.3 percent. Release