Equity investments in biotech companies fell 68% to $5.9 billion in the first half of 2008 compared to the first half of 2007, according to Recombinant Capital. The biggest decline was among public offerings, as only one biotech firm went public. Private offerings for public companies declined 76% to $2.8 billion, while offerings for private companies fell 28% to $2.4 billion. However, the number of acquisitions by drug companies rose 60% to 27 deals, for an aggregate value of $78.9 billion.

Source: Wisconsin Technology Network