Biotech venture funding jumped in '06

A new survey of the venture capital field from Ernst & Young and Dow Jones VentureOne points to big gains for biotech, pharma and medical devices. Biotech and pharma draw $4.72 billion in venture funds last year, a 12.5 percent increase over 2005. Medical devices, meanwhile, saw investment levels jump 20 percent to $2.63 billion. Overall investing jumped to $25.75 billion, the highest level since 2001.

"I think 2006 proved that the U.S. venture capital industry has entered a new cycle with many investors renewing their commitment to the entrepreneurial spirit by focusing attention and capital on companies that affect our health, the way we communicate, and the environment," said Stephen Harmston, director of global research for VentureOne. "The data also shows that investors are recognizing the economic reality for start-ups today and are willing to sustain them with round sizes that are at the highest levels in six years."

- check out the release on the latest VC numbers

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