Fewer venture capital dollars have been invested into life sciences companies in the first quarter of 2013, according to a new PricewaterhouseCoopers report.

San Diego received the third highest amount of funding, with 12 deals totaling $122 million. The San Francisco Bay Area received the most, with $427 million, followed by Boston at $273 million.

Venture funding, however, dropped in volume and value across the country, the report said.

Venture capitalists invested $1.4 billion in 167 life sciences deals during the first quarter of 2013 — a 14 percent drop in dollars and 16 percent drop in the number of deals, when compared with the same quarter of last year.

The first quarter of 2013 marks the lowest number of life sciences deals since the first quarter of 2009, the report said.

— SDBJ Staff Report