WISCONSINREPORT.COM (08/05/2012) - Midwest health care startups reported 511 million dollars in total investments across 97 companies in the first half of 2012, according to the BioEnterprise Midwest Health Care Venture Investment Report. The totals are the highest recorded for the region among the last five years both in dollars of financing and number of companies receiving investment.

Ohio led the way in total financing with companies, attracting $126 million, followed by Minnesota, whose companies attracted $86 million during the period. Next in line: Illinois, $84 million; Michigan, $56 million; Indiana, $51.6 million; Pennsylvania, $32.8 million; Misssouri, $32.4 million; Kentucky, $25.9 million; and Wisconsin, $15.2 million.

By sector, the equity funding was as follows: (1) Biopharmaceutical companies: $259 million; (2) Medical device companies: $131 million; (3) Health care software and service companies: $118 million.

The Midwest Health Care Venture Investment Report includes all reported numbers and regionally collected data.

Sources: Compiled by BioEnterprise team from Venture Wire, Private Equity Week, Wall Street Journal, Venture Source, SEC Filings, company press releases, www.biospace.com, and Midwest bioscience organizations and institutions.

BioEnterprise is a business formation, recruitment, and acceleration effort designed to support the growth of bioscience companies. Located in Cleveland, BioEnterprise provides management counsel and support services to health care companies.

BioEnterprise partners are Case Western Reserve University, Cleveland Clinic, University Hospitals, Summa Health System, and the BioInnovation Institute in Akron. Additional technology partners include the NASA Glenn Research Center, Cleveland State University, NorTech, and BioOhio.

The initiative comprises the collective activities of BioEnterprise and its partners' commercialization offices: the Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center - Center for Clinical Research and Summa Enterprise Group. The combined efforts of these groups has created, recruited, and accelerated more than 120 companies in nine years.


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