Bioscience firms help boost Arizona’s VC investments

November 2, 2005

By Flinn Foundation

Two bioscience-related firms are securing investments and helping to boost Arizona’s venture capital to its best figure in three years.

Arizona’s third quarter venture capital total is $50.5 million, compared with $69.6 million last year, according to the MoneyTree Survey released by Pricewaterhouse Coopers, Thomson Venture Economics, and the National Venture Capital Association.

The bioscience-related companies funded during the quarter, according to MoneyTree, include:

  • Carefx Corp. of Scottsdale, $11.5 million. It was the third round of funding for the developer of health care software.
  • APT Pharmaceuticals of Tucson, $6 million. It was the first round for the biotech company.

Venture capital investments have topped $123 million through the first nine months of this year.

For more information:

Bio firms help Arizona to VC high, 07/27/2005

Venture funds tops in 3 years,” Arizona Republic, 10/25/2005