Biotech venture funding jumps back to life in second quarter

In a big turnaround from the bleak numbers posted in the first quarter, venture investing in the biopharmaceuticals field jumped 72 percent in the second quarter, according to VentureSource, a research unit of VentureWire publisher Dow Jones & Co. After seeing a meager $709 million in venture financing for biopharmaceutical firms in the first three months of the year, venture groups got back into business with $1.22 billion in new funding over the last three months.

New companies like Clovis Oncology, one of this year's Fierce 15, found venture firms much more willing to take a chance.

"There's a sense that valuations have fallen significantly, and there are signs of the economy stabilizing," said Rodney Altman, senior partner of CMEA Capital. "There are also signs that the larger companies are being more acquisitive. I think people feel more optimistic that exits will appear on the horizon."

- check out the report from Dow Jones