How is Massachusetts faring in producing cutting-edge biotech startups?
Last year witnessed the lowest amount of biotech seed investment activity in 15 years, according to Xconomy, even though investments surged towards the end of the year.
We analyzed information from OnBioVC to figure out how Massachusetts fared compared to other regions. The conclusion? It leads in biotech but lags in medical devices.
Of 83 Series A biotech and medical device financings worldwide in 2011, MA grabbed 33% (21) of the biotech deals, but only 10% (2) in medical devices.
There were 63 Series A biotech deals in 2011. Average size was $14.7 million. (One was Sample6 Technologies which was incubated at the Venture Development Center.)
MA’s 33% compares to 22% which occurred outside the US. CA had 10%. NY, NJ and PA together had 8%.
Turning to medical devices, there were only 20 Series A deals in 2011. Average size was $6.4 million.
CA nabbed 20%. International, Midwest and Southeast each accounted for 15%. MA had 10%. NY, NJ and PA combined for 5%.
Our advice to the world’s biotech entrepreneurs? Get on a plane to Boston. Medical device founders ought to check out M2D2, Massachusetts new medical device incubator, where nine promising companies have taken up residence.