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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 New Women's NIKE METCON DSX FLYKNIT BLACK SZ 10.5 (849809 001) RETAIL 160.00, 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 Free RN CMTR 2017 Prem Women's sneakers AA1622 001 Multiple sizes,.

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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 womens rosherun flyknit running trainers 704927 301 sneakers shoes,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIKE WOMENS SF AF1 AIR FORCE 1 MID MUSHROOM TAN LIGHT BONE BOOT AA3966 200 SZ 6,.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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8.5 WMN'S NIKE Vapormax 2018 WHITE BROWN Running shoes CASUAL MULTICOLOR PINK 7Y,.  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.Wmns Nike Air Max Jewell Light Bone Women Running shoes Sneakers 896194-008,.  However, it has been shown by others that the recent web high flyers are mostly concentratedAUTHENTIC 2007 NIKE AIR JORDAN 8 RETRO ICE blueE Women's Size 8.5,.

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
Activity: Running
Material: Synthetic Style: Running, Cross Training
Width: Medium (B, M) US Shoe Size (Women's): 8.5
Color:

White

Product Line: Flyknit
Brand:

Nike

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  3. Nike Air Max Sequent 3 Camo Womens AJ0005-101 Grey Punch Running shoes Size 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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