Investment in biotech start-ups has rebounded after funding in the sector plummeted earlier this year and investors shied away from a part of the New England economy that has traditionally been a magnet for venture capital spending.
Funding of biotechnology companies more than doubled to $266 million after sinking in the second quarter to its lowest level since early 2005, according to the quarterly MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thompson Reuters.
The biggest deal for the period went the Watertown firm Dicerna Pharmaceuticals Inc., which raised $60 million from investors, according to the quarterly MoneyTree report. The rebound helps reinforce the area’s reputation as a hub for medical and pharmaceutical innovation. Full story for BostonGlobe.com subscribers.
Michael B. Farrell can be reached at firstname.lastname@example.org.