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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 SB Dunk Low Pro OG QS Staple Panda Pigeon Men shoes Sneakers BV1310-013, 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.New in Box Adidas Women's NMD R1 Shock Pink US 7.5 BB2363 Sold Out ,.

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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.Adidas ZX Flux Adv Verve W S75982 black halfshoes,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.Adidas P19u shoes woman low sneakers B28128 FALCON W,.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 HYPERVENOM PHATAL III 3 FG WHITE-BLACK-PHOTO blueE SZ 8.5 [878640-104],.  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.ADIDAS ORIGINALS Women's ULTRA BOOST Uncaged in Salmon Pink BB 3903 Size 9.5,.  However, it has been shown by others that the recent web high flyers are mostly concentratedAdidas Pureboost X Clima Womens Size 10,.

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
Style: Trail-Running Shoes
Color:

White /Silver

US Shoe Size (Women's): 0
Brand:

Nike

Width: Medium

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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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