Investment spending in the drug delivery sector has dropped significantly for the third quarter, but is staying ahead of last years numbers year-to-date, according to a new report.
Venture capital investments fell a significant 61.8% to $29.6 million during the three months ended September 30, though deal volume stayed the same when compared to the third quarter of 2017, according to the MoneyTree report from PricewaterhouseCoopers and CB Insight.
Drug delivery businesses have seen more money invested year-to-date, however, receiving $230.8 million of VC funding through 11 deals, up 9% over the $211.4 million the industry saw last year through a similar 11 deals, according to the report.
The drug delivery sector lagged behind the overall U.S. VC-backed sector, which saw total dollars invested rise 17% to $27.5 billion.
Globally, the total VC spend rose 2% to $53.1 billion across 3,408 deals, but early-stage investment declined in all regions, according to the report.