Ohio bioscience companies attracted $296 million in venture funding in 2007

Ohio has become the leading state between the coasts and one of the top five in the nation for health care venture capital firms, finds an analysis by BioEnterprise, a Cleveland-based health care accelerator. Twenty-seven venture firms with health care as a focus have Ohio offices. "Over the last five years, Ohio has seen a significant increase in health care venture capital," says Baiju R. Shah, president of BioEnterprise. He credits Ohio’s $1.6 billion Third Frontier technology investment program.
 
In 2007, Ohio bioscience companies attracted $296 million in venture investments, leading all states between the coasts, Shah says. The top states remain California, Massachusetts, and New York. Venture capital groups with a presence in Cincinnati and a strong health care focus include Blue Chip Venture Co., Charter Life Sciences, Draper Triangle, Fort Washington and River Cities Capital.

Writer: David Holthaus
Source: Annette Ballou, BioEnterprise