center for economic development carnegie mellon university regional enterprise tower 425 sixth avenue suite 1110 pittsburgh pa 15219 phone 412 765 0280 fax 0290 www smartpolicy org smart policy innovative regions technology in trends biotechnology investments september 2002 updated march 2003 by lena andrews and jerry paytas ph d wallflower no longer venture investment s biotech sector slumped during the 1980s 1990s but local national investors have displayed a renewed interest recent years 2000 received record amount of financing eclipsing previous high mark set 1998 figure 1 2001 was half from it still represented second highest region 40 million invested ranked 22 nd nation down 13 th this decline more severe than activity see bio rising capital funding 1982 0 10 000 20 30 50 60 70
