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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 FLYKNIT RACER MULTI COLOR SZ 10 MENS-WOMENS SZ 11.5 [526628-004], 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 Zoom Kobe VII System USA gold Medal Edition Men's Size 8.5,.

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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.2013 NIKE AIR JORDAN 10 X RETRO STEEL Size 7.5. 310805-103 1 2 3 4 5 6 db bred,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Nike Air Jordan 5 Retro Size 11.5 BLACK GRAPE 136027-007 LS TOKYO BIN A,.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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2012 NIKE AIR MAX 90 OG SAIL GREY blueE US 12 RETRO,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Brand New Conditional Air Jordan 7 Bordeaux Original 1992 Deadstock size 7.5,.

Nike Air More Uptempo Supreme Uptempo - 902290 001,.  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 Mercurial Vapor 12 Elite FG M AH7380-001 Football Boots,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Kyrie 4 BHM Equality -Size 12 100% AUTHENTIC Limited Edition,.

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
Shade: White
Width: Medium (D, M) FTG NUMBER: LD-6659-55964
US Shoe Size (Men's): 9 Model:

Air Jordan 3 Retro

Color:

Whites

Style: Basketball Shoes
Brand:

Nike

UPC:

Does not apply

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  3. L@@K AIR JORDAN 12 RETRO - BLACK SIZE 14,–  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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