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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 AIR JORDAN IV 4 RETRO LS OREO BLACK COOL TECH GREY CEMENT OG 314254-003 11, 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 Air Jordan 6 Retro Pinnacle Metallic gold DS Size 9.5 854271-730 - 1 3 cny,.

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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 Kobe 8 System SS sz 12 Christmas Edition Black Electric Green gold Grinch,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.2005 Nike Air Max 1 Cork Size 9 Book of Ones 308866 112 Patta Atmos Mesh Euro 87,.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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Mens Nike Air Jordan Retro Vii Sneakers New, Black Raptors 304775-018 sz 10.5,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.2013 Nike AIR JORDAN 4 RETRO 10 11 12 13 FEAR PACK BLACK GREY oreo aj4 oregon,.

Men 9.5Us Nike Air Jordan 11 Retro Win 82,.  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.Men 9Us Nike Air Jordan 7 Retro Hare,.  However, it has been shown by others that the recent web high flyers are mostly concentratedAIR JORDAN 6 RETRO INFRARED PACK 384664-003 black deep infrared 6 Size 9,.

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
Brand:

Nike

US Shoe Size (Men's): 10.5 Style: Athletic Sneakers
UPC:

Does not apply

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  3. Air Jordan 5 V Retro RARE 2006,–  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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