August 12, 2020
JLL’s Q2 Orange County Tech-Life Sciences Investment Overview tracks the top funded companies, funding by industry, and where capital is coming from. The first half of the year saw funding totals decline compared to the previous 5-year average. Total Q2 2020 funding hit $186.2 million, boosting total year-to-date funding to $485.5 million.
Medical device companies received the lion’s share of Year-to-Date funding at $279 million, accounting for 57% of the YTD total funding. Leaders in Q2 funding included Lumitron Technologies ($34 million), Fluxergy ($30 million), and AtaCor Medical ($25 million).
The next closest funding categories were pharmaceuticals ($60 million YTD) and biotech ($54.9 million YTD).
Due to the continuation of COVID- 19, demand for research and development from the medical device industry is on the rise, writes JLL researchers. With the life sciences sector taking an “all-hands on deck” approach to find treatments for COVID-19, Orange County is in position to be at the forefront of this initiative. Overall, Orange County has a strong and growing innovation ecosystem of which life sciences plays a significant part.
For comments, questions or concerns, please contact Dennis Kaiser