Tracking Record VC Investment in San Diego’s Life Sciences Sector
Life science companies in San Diego received a record-setting amount of venture capital investment in Q2 2018, reaching $427.5 million, according to research compiled by CBRE. Investment in tech and other sectors was slower in Q2, but total investment reached $501.3 million.
This represents the third highest quarter on record, and on the heels of the record $593 million set last quarter. This amounts to a first-half pace of more than $1 billion, a mark previously not reached in San Diego. The largest deal this quarter went to Ansun BioPharma, a Torrey Pines-based clinical-stage biopharmaceuticals company that received $85 million in Series A funding.
The global trend of higher M&A activity in San Diego slowed to deal count of 16 known M&A transactions in Q2, which includes announced or completed deals involving San Diego companies. There’s plenty of significant deals on the horizon awaiting approval. Though Qualcomm’s deal with Broadcom failed, Qualcomm has proposed a $44-billion acquisition of NXP Semiconductors.
For comments, questions or concerns, please contact Dennis Kaiser
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