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March 16, 2005
VCs Have Brains on Their Minds - Neurotech VC Up 225%
Neurotechnology Industry Experiencing Explosive Growth in Venture Funding Says Upcoming Report from NeuroInsights
SAN FRANCISCO--(BUSINESS WIRE)--March 16, 2005--A soon-to-be-released report from NeuroInsights, the neurotechnology market authority, will show that venture capital investment in neurotech companies (firms developing treatments for neurological and psychiatric illnesses) climbed a phenomenal 225 percent from 1999 to 2004 -- representing $5.987 billion invested by VCs during that period.
According to data compiled by NeuroInsights, more than one-in-four venture capital dollars invested in the Life Sciences now goes to companies creating innovations in neuropharmaceuticals, neurodevices and neurodiagnostics.
"Five of the top ten leading causes of disability worldwide are caused by problems with the brain and nervous system," explained Zack Lynch, managing director of NeuroInsights. "The good news is that new treatments for those suffering from illnesses such as Alzheimer's disease, depression and chronic pain are emerging quickly. Building on the success of the Human Genome Project and decades of brain research, neurotech now holds the greatest potential for major discoveries, commercial success and real investment opportunities. It's no wonder over 60 venture capital firms made significant investments in private neurotech companies last year."
"Neurotech companies are addressing the largest and fastest growing unmet medical market so there's room for many new companies with good science to compete," said Mark Cochran, managing partner at NeuroVentures Capital. "As a focused neurotech fund, we've talked with over 500 startups in the space and the potential for high return investment has never been more compelling."
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