Ohio Leads the Way in Midwest VC Biotech Funding
October 26, 2009
In great news for the Ohio biotechnology community, BioEnterprise reported today that Ohio lead the way in Midwest VC funding, attracting $137 million, which was closely followed by Minnesota at $134 million respectively.
However, some very interesting numbers on how the funding breaks down by metropolitan area. Yes, that’s right, Detroit was substantially ahead of Cleveland in raising funding!
- Minneapolis, which attracted $133.3
- Detroit-Ann Arbor – $70.8 million million
- Cleveland $55.7 million
- Chicago $38.8 million
- Indianapolis $39.2 million
- Columbus $11.7 million
- Pittsburgh $28.9 million
The Equity Breakdown by section was as follows:
Biopharmaceutical companies: $295 million
Medical device companies: $173 million
Health care software and service companies: $125 million
Hey, at least Cleveland beat Pittsburgh!
Here’s a link to the story http://www.wwj.com/Midwest–Detroit–Ann-Arbor-Move-Up-In-Biotech-VC/5526288
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