Law firm Fenwick & West, which handles legal issues for a variety of technology companies, has examined 186 venture fundings of U.S.-based companies in the life-sciences sector over the first half of 2012, and found that valuations have ticked upward.

Matt Rossiter, a partner at the firm and co-author of a recent survey on life-sciences deals, said he has also noticed increased involvement in deals by public medical-technology companies, who often turn to start-ups for new innovations.