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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 Womens 2017 Nike Air Max 95 LX Pony Hair Black White SAMPLE Sz. 7 off AA1103-001, 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 Dunk Hi Skinny Print Womens 543242-500 Raspberry Red Purple shoes Size 12,.

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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.Early 00s Nike Shox Wmns 7.5,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Nike Lunarepic Low Flyknit 2 Running Women's shoes Size 8,.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 LUNARGLIDE 9 X-PLORE WOMAN SIZE 6.5 SUMMIT WHITE NEW RUNNING COMFORT,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Lunarepic Low Flyknit 2 Women’s Size 12 shoes Black White 863780-041,.

150 Women's Nike Roshe One Hi LIB shoes Boots 821776 400 - Sz. 6,.  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 Women blueE WHITE Flex Trainer 7 shoes 898479-444 O30419 BRAND NEWW ,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNIKE WMNS AIR MAX 1 JCRD JACQUARD 819808 002 PURE PLATINUM GREY WHITE-BLACK,.

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

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Item specifics

Condition:
New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Brand:

Nike

Width: Medium (B, M) US Shoe Size (Women's): 8.5
Color:

GREY-YELLOW

Style: Running, Cross Training
UPC:

00886691988724

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  3. Nike WOMEN'S Lunar Force 1 Flyknit Workboot Deep Burgandy SZ 7 NEW RARE SAMPLE,–  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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