The Healthcare MoneyTree™ Report prepared by PricewaterhouseCoopers (PwC) and CBInsights is a quarterly publication that details U.S. venture capital funding for healthcare-related industries.  The report covers healthcare trends, industries, places, and movers and shakers in the U.S., as well as global healthcare trends.

According to the recently released Q4 2019 issue, the Biotechnology subsector led the Healthcare industry in the fourth quarter in terms of dollars invested, raising $2.4 billion.  That represents a 39 percent increase compared to the third quarter of 2019, which totaled $1.8 billion.

“The Biotechnology industry continues to capture the lion’s share of dollars invested,” said Ousmane Caba, Life Science Partner at PwC. “The technological breakthroughs in areas such as gene editing or data interpretation as well as the continued emergence of personalized medicine, are fueling the growth.”

Pennsylvania’s share was significant, ranking the Commonwealth as number five of 10 states by deal value in the fourth quarter of 2019, with seven deals totaling $194 million, with an average deal size of $28 million each.  The Philadelphia region accounted for $183 million of the total $194 million.

New Jersey was ranked number nine of 10 states with two deals totaling $66 million, or an average of $33 million each.  Other states ranked in the top 10 are California, Massachusetts, Minnesota, New York, Washington, Colorado, Illinois, and Wisconsin.  Delaware was also listed among the states with Q4 2019 deals and investments with one deal valued at $8 million.  (PwC/CB Insights MoneyTree™ Report Q4 2019, pg. 19 and pg. 29).

In Healthcare MoneyTree™ Report’s listing of 11 healthcare IPOs in Q4 2019, one was in New Jersey and three were in Pennsylvania.  Drug discover company Oyster Point Pharma from Princeton, N.J., was listed number seven with $80 million.  Drug development company Cabaletto Bio in Radnor, Pa., was listed number eight at $75 million.  Galera Therapeutics in Malvern, Pa., was listed at number nine with $60 million, and medical devices and equipment company TELA Bio, also from Malvern, was listed as number 10 with $52 million.  California had four companies on the list, and Maryland and Massachusetts each had one.  (PwC/CB Insights MoneyTree™ Report Q4 2019, pg. 23)

View the full report.