With San Diego-based biotechs leading the way, southern California reported some big gains in venture capital financing in the first quarter, according to Ernst & Young. In San Diego, $533 million of $606 million in venture funds went to health care companies. That performance helped southern California push past New England for second place in the race to attract venture funds, falling just behind Silicon Valley. Investments in healthcare, including biotech, jumped to $2.88 billion nationally, up 64 percent from the same period a year ago. And EUSA Pharma based in King of Prussia, PA led the country with a second round of $175 million.
- check out the release on the findings
- read the analysis on the numbers from The Los Angeles Times
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