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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 Womens Air Huarache Run Se Low Top Lace Up Running Sneaker, 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 Wmns Air Max 1 Premium New Guava Ice Lifestyle Sneakers 454746 800 SZ 7,.

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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 Jordan Cement 3 womens bluee 9 5 cement XI laser countdown tiff space,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Womens Nike M2K Tekno Size 7.5 shoes Metallic Silver BQ3378 001,.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 LeBron 9 P.S. Elite Taxi Men's Size 7 Women's Size 8.5 516958-500 ONLY ONE ,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Womens Lunarconverge Running Trainers 852469 Sneakers shoes 100,.

Nike WMNS Air Zoom Pegasus 35 Grey Size 8 US Womens Athletic Running shoes,.  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 Air Max Jewel Running Trainers 896194 Sneakers shoes 002,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNIKE Air Troupe Metallic Silver White shoes Sneakers TOE PIVOT Dance NEW Women 6,.

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
Country/Region of Manufacture: Vietnam
Width: Medium (B, M) Style: Low Top
Pattern: Solid Heel Height: Flat (0 to 1/2 in.)
Color:

Racer Pink - Black - White

US Shoe Size (Women's): Various
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Nike

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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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