October 16, 2014 by Scott Wooldridge
Investment in Minnesota’s life sciences sector is on track to reach a 5-year high, according to a report from LifeScience Alley.
Investment in Minnesota life science companies is on track to hit a 5-year high by the end of 2014, according to a new report from LifeScience Alley. The industry group, whose membership includes companies from the medical device, health IT and pharmaceutical industries, says the 3rd quarter saw a total of $113.6 million in life science investments, bringing the year-to-date total to nearly $300 million.
The numbers reflect a general trend over the past few years. Officials with the group say they’ve seen more deals, more investors and higher budgets.
“We’re seeing increased activity across the board,” LifeScience Alley director of research and intelligence Cheryl Matter told MassDevice.com. “Compared to where we were in 2013, we’re about 28% above that in 2014. So, generally, investment is up.”
The reason for the surge is hard to pin down, Matter said, noting that an improving economy and the traditionally strong medical device industry in Minnesota may be factors.