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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 {865031-209} MEN'S NIKE AIR MAX GOADOME BOOT Medium Olive NEW, 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 270 Clay Green Black-Deep Jungle Men's AH8050 300 Size 10.5,.

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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.New Nike ajf Jordan Airforce 1 white red bluee sneakers Size 13,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIKE ZOOM KD10 LMTD VETERANS DAY 11.5 shoes STUCCO Olive GREEN BLACK 897817 002,.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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Nike Dunk Low SB Tokyo bluee Taxi Size 10.5 (2006) Rare ,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Lebron Soldier 12 XII SFG Black White Grey 2018 All New,.

Nike Air Presto Black White UK8,.  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.2015 Air Jordan 11 Retro Low I.E. Cobalt 306008102 Sz 9, NIB, Free SH J8,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNIKE MENS MERCURIAL VAPOR 12 CLUB orange WHITE VOLT SHOES 2019 BEST SELLER,.

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
US Shoe Size (Men's): 7.5 Color:

Pink

Style: Running Shoes Brand:

Nike

Model:

Nike Air Max 180

Idset_Mpn: 97-95
UPC:

Does not apply

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  3. Nike Air Zoom Pegasus 35 Mens 942851-300 Geode Teal Mesh Running shoes Size 11,–  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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