BioEnterprise, the Cleveland-based biomedical business formation initiative published their Midwest Health Care Venture Investment Report on Friday. The health care venture field is beginning to pick up. In terms of number of companies funded, Pittsburgh leads the pack with twenty-four totally almost $40 million in funding.
This high concentration stands out. In comparison the deals are smaller than the top city (in terms of amount funded) but the number of seed type funding provided is a good sign for Pittsburgh.
Comprising the report were mainly biopharmaceutical (48%) and medical device (38%). The larger Pittsburgh deals included Foundation Radiology Group, ALung Technologies, ClearCount and BodyMedia. The seed deals are hopefully companies to look for, including Almedtrac, Blacktown NC and Flexicath.
