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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 Women's Metcon 2 AMP bluee Glow Cross Training shoes Size 8 843972-400, 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.2011 Womens Nike Shox Turbo+ 12 Black Metallic Silver Running shoes Size 9,.

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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.WOMEN'S NIKE AIR MAX 95 PREMIUM IGLOO WHITE MINT GREEN 807443-300 Size 9.5,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Nike Wmns Air Huarache Run SE ( 859429 400 ) sz 11.5,.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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NIKE Womens Black gold AIR MAX GOA VI Quilted Leather Boots shoes Sz 7.5 Exc ,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Air Max 90 Linen Sail ,,Snake 896497-200 Wmn Sz 8 Running,.

NEW WOMEN'S NIKE VAPOR TOUR 11.5 (SUMMIT WHITE BONE) TENNIS SHOES. 631475-100,.  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.Original New Arrival Authentic Nike Air Max 270 Mens Running shoes Sneakers...,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNEW WMNS SZ. 5 NIKE AIR MAX 270 (AH6789 401) OBSIDIAN VOLT GLOW,.

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

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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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