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Posted July 11th, 2011 in Exits IPOs M&As, VC-backed Biotech Returns

Note to Readers: This blog post was co-written by Bruce Booth and Bijan Salehizadehwho co-authored an article in the July 2011 issue of Nature Biotechnologydetailing the differences in returns between Life Sciences and Tech investing.

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Left behind by this good news is the NIKE AIR MAX 270 PREMIUM AO8283 400 DIFUSED blueE GYM OBSIDIAN NAVY SAIL WHITE 11, which according to PWCMoneyTree / NVCA data accounted for nearly 30% of the $21 billion invested in venture-backed companies in 2010.

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As we outline in our paper in the July issue of Nature Biotechnology, LS venture investing dramatically outperformed Tech venture investing over the past decade.

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Overall Life Sciences/Healthcare venture realized gross pooled mean IRR was 15.0% for the past decade.  This is in contrast to 5.5% for all of venture capital, 3.0% for IT and 4.1% for Software.Nike Air Max Plus PRM TN Lime Blast Men’s 9.5 Running Sneakers 815994 300 New,.

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There’s a perception that lots of Life Sciences deals lose money.  It’s true.  58% returned less than their invested capital.Nike Air Max 270 Black Volt AH8050-011 Men’s Size 10.5,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Nike Lebron 11 XI Premium WTL “What The Lebron” Size 9.5,.g.,. top 1% of Tech deals almost certainly have higher multiples than LS).

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But, as one would expect, not all of the news for Life Sciences is rosy:

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2017 Nike Air Jordan 6 VI Retro SZ 11.5 Gatorade orange Like Mike OG 384664-145,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Air Epic Vintage, US 9, 924476-002, tailwind, waffle, Sample,.

NIB Nike AIR JORDAN 10 RETRO sz 12 Dark Shadow Red Black 310805-002 deadstock,.  IPOs are media darlings, and help create buzz about sectors.  In LS, we aren’t likely to have that type of buzz anytime soon.

Our data and analysis of course has some short-comings.NIKE AIR FORCE 1 07' PREMIUM SPLIT (905345 005) MEN'S TRAINERS SIZE,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Air Max 97 QS Black Metallic gold AT5458-002 Airmax Mens Running Sneakers,.

Some of you who follow venture returns data may be asking some questions:

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Item specifics

Condition:
Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Product Line: Nike Air
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Nike

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  3. 1997 NIKE AIR JORDAN 12 FLU GAME OG SZ 15 130690-061 XII BRED VINTAGE,–  Unlike IT where 100x returns are possible and have driven great outcomes in companies like Skype and Google, and will most likely in Zynga and Facebook, Life Sciences never will have these wild “Black Swan” outliers.. These 100x’ers are the companies that draw press attention, new talent, and more capital into the IT space.
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To get all of the numbers and the full commentary, please head over to the Nature website.

For simplicity’s sake, in this post, we use the term Life Sciences to cover all of Healthcare venture capital investing and the term IT/Tech to cover all Information technology, Internet/Software, and Hardware related categories.

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