Corporate venture funds are increasingly filling biotech firms' funding needs, according to analysts. Corporate venture funds were tied to 25% of early-stage U.S. biotech financing deals during the first half of 2011, compared with 15% in all of 2010, according to PricewaterhouseCoopers and the National Venture Capital Association. Amgen Ventures said it has funded 26 companies
since it started in 2004.

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