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Health Care Venture Capital Investments Increased 23% In 2004,
According To Irving Levin Associates, Inc.
NEW CANAAN, CT — January 6, 2005 — During the fourth quarter
ended December 31, 2004, more than $1.6 billion financed 97 publicly
announced venture capital investments in health care companies, according to
Irving Levin Associates, Inc. Preliminary figures indicate that for the year
ended December 31, 2004, more than $6.9 billion was channeled into a total
of 390 venture capital transactions, representing a 23% increase in total
dollars committed, compared with 2003, while deal volume was fairly level
with the previous year. The most impressive quarter of 2004 was the second,
with a total of more than $2 billion in deals; activity was steady during
the first, third and fourth quarters of 2004, each of which posted
approximately $1.6 billion in total dollars invested.
Total deal volume increased by just 1% in the year ended
December 31, 2004, compared with the previous year, but the two biggest
deals of 2004 had higher price tags than the two largest deals done in 2003.
Jazz Pharmaceuticals secured $250 million in venture financing during the
second quarter 2004, and managed care company Ion Health Holdings secured
$200 million during the fourth quarter 2004. The continuing trend in health
care venture capital is primarily toward investments in biotechnology,
biopharmaceutical, pharmaceutical and medical device companies. “Despite the
recent problems with the large, publicly traded pharmaceutical stocks,
venture capital funds continue to flow into the sector,” remarked the
Managing Editor of Irving Levin Associates, Inc., Stephen M. Monroe.
The top 15 venture capital firms of the year contributed to at least 10
financings, and the most active, Burrill & Company, participated in 18
health care financings during 2004. Also very active in the health care
markets during 2004 were 3i Group, Alta Partners and MPM Capital, each
having contributed to 16 venture deals during the year, plus Oxford
Bioscience, having invested in 15 venture rounds. The rankings below show
venture capital firms (15) that were involved in 10 or more financings
during the year ended 2004, and separately, those (10) that were involved in
three or more deals during the quarter ended December 31, 2004.
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TOP 15 VENTURE INVESTORS, YEAR ENDED DECEMBER 31,
2004 |
| Venture Capital Firm |
Number of Investments |
| Burrill & Company |
18 |
| 3i Group |
16 |
| Alta Partners |
16 |
| MPM Capital |
16 |
| Oxford Bioscience |
15 |
| TVM Techno Venture Management |
14 |
| Novartis Venture Fund |
13 |
| New Enterprise Associates |
12 |
| Novo A/S |
12 |
| Versant Ventures |
12 |
| Interwest Partners |
11 |
| MDS Capital |
11 |
| Schroder Ventures |
11 |
| Sofinnova Ventures |
11 |
| Prospect Venture Partners |
10 |
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TOP 10 VENTURE INVESTORS, Q4: 04 |
| Venture Capital Firm |
Number of Investments |
| MPM Capital |
7 |
| 3i Group |
5 |
| Burrill & Company |
4 |
| InterWest Partners |
4 |
| Novartis Ventures |
4 |
| Alta Partners |
3 |
| Novo A/S |
3 |
| Sofinnova Ventures |
3 |
| Versant Ventures |
3 |
| Vivo Ventures |
3 |
Irving Levin Associates, Inc., a leading
health care financial publisher established in 1948, is based in New Canaan,
CT and is online at www.levinassociates.com. This privately held corporation
publishes newsletters and annual and quarterly reports, and maintains merger
and acquisition databases, on the health care and senior housing markets.
Financial events in the health care venture capital, private equity, public
equity and merger and acquisition markets are reported twice monthly in the
publication Healthcare Corporate Finance News, formerly known as Jenks
Healthcare Business Report.
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