Google announced in July that its venture capital arm Google Ventures will be looking to spend $100 million on budding European companies, including life sciences. The new office will be located in the area of London known as Tech City. The software giant described the European startup scene as having enormous potential, noting the sum is an initial funding. In June, Index Ventures launched an even bigger fund €400 ($535.7) million, also dedicated to seeding early-stage technology investments.

“We started off realizing that New York City should be the center of biotechnology and it wasn't and that one of the reasons for that was that there wasn't appropriate space for companies.” Eva Cramer, president of BioBAT, Brooklyn, New York's biotech facility. Yet, seven years into the project, the nine-story biotech facility in the Brooklyn Army Terminal, remains largely unoccupied. (The Wall Street Journal, 14 July 2014)

“Valuation metrics in some sectors do appear substantially stretched—particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year.” Federal Reserve Board chair Janet Yellen in testimony before the US Senate Finance Committee. Healthcare indices immediately dropped roughly 2%, a greater decline than the broader markets that day. (Business Insider, 15 July 2014)