Cash Flows Into Biotech

And investment pros are hiring more scientists

Venture capitalists, burned in the collapse of digital tech companies over the past year, say the only areas in which they are increasing their investments are security and biotech. That was the conclusion of a recent survey by consultants Deloitte & Touche. Biotech pulled in some $3 billion in VC funding over the first three quarters of this year--a third more than it did in the same period last year, according to the Silicon Valley consultancy Recombinant Capital. A San Diego-based company, Syrrx, even found itself turning investors away early this year after it had raised $55 million in its second...

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