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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 MENS AIR ZOOM PEGASUS 35 blueE FORCE WHITE BLACK SHOES 2018 BEST SELLER, 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-Jordan-V-5-Retro sz7Y-2013-Laney-GS-STYLE-44088-189 LOOKNOW ,.

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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 Jordan Eclipse Lea 724368004 grey halfshoes,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIB MEN'S NIKE AIR FOAMPOSITE ONE LEGION GREEN 314996 301 FAST SHIP,.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 KOBE IX HIGH KRM EXT QS BLACK BLACK SIZE MEN 9 [716993-001] Pre-owned,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Air Force 270 Men's Obsidian Metallic gold Gym Red White H6772400,.

300 Nike Mercurial Superlfy V DF FG Men Size 10.5 orange Black Men Soccer Cleat,.  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 Procell NYC Size 10 New,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Air Penny 5 Sneakers Heaven Cent Storm Is Over Athletic Basketball shoes 10,.

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
Style: Nike Shoes
Brand:

Nike

US Shoe Size (Men's): 10.5
Product Line: Nike Dunk UPC:

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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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