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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 Nike Women Air Max Kantara Sneaker shoes, 402 ASHSLT FTBLGY, Women 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.Nike womens air zoom pegasus 32 running trainers 749344 600 sneakers shoes,.

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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 Zoom Lebron X Youth 7 Teal Purple Yellow gently used,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Wmns Nike Flyknit Lunar2 620658 615 Women's Running shoes SZ 11,.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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319986 303 Womens NIKE AIR MAX 1 Clay Green Trainers shoes Size 5-11,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Tanjun Racer Womens 921668-009 Black Storm Pink Volt Running shoes Size 9,.

DS WMNS NIKE AIR FLYKNIT ROSHE SAIL sz 10 presto roshe flyknit multi,.  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 Air Max 90 LX Women's shoes - size 5.5 - colors tar black cider,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNIKE Hyperdunk 2016 White Basketball shoes Sneakers NEW Womens 7 Carolina bluee,.

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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