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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 Women's Nike Shox Turbo+ IV 4 White Navy Silver Light bluee Running 2006 sz 6.5, 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.NEW Nike Blazer Mid Suede Vintage shoes Real Leather Sport Fuchsia Sneaker,.

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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 Wmns Zoom Fly SP London Neon orange Reflective Women shoes AJ8229-108,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Size 6.5 Women's Nike Air Court Flare ankle brace Tennis white 810964 102 orange,.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 Women's Air Max 1 SE PRM Vachetta Tan Metallic Silver AO0795 200 Size 5,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Wmns Air Jordan 1 Retro Hi PREM I Premium Zip AJ1 Women shoes Pick 1,.

Nike Air Vapormax 2018 (BlkWhi)- Running shoes-Women,.  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 Womens Son Of Force Mid Trainers 616303 Sneakers shoes 991,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Womens Lunarglide 8 Runing Trainers 843726 800 Sneakers shoes,.

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

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Item specifics

Condition:
New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Stylenumber: 852465-014
Style: Running, Cross Training Color:

Pure Platinum/Polarized Blue/Glacier Blue

Width: Medium (B, M) Brand:

Nike

US Shoe Size (Women's): 9.5 Gender: Womens
UPC:

091209286180

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  3. Nike W Air Max 90 Ultra 2.0 881106-100 Oatmeal Lava Glow White Women shoes Sz 12,–  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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