The Ledger
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No New Major Pharma Companies Will Be Built From Biotech VC
“There are very few, there won't be any new major pharmaceutical companies created out of biotech VC money anymore. Really all about creating companies that can exit to these people.”
BioInnovation Capital Targets Gains on Two-Thirds of Portfolio Companies
“I'd like to see a portfolio with two thirds of my companies being gains for us. And so not relying on the 50 to one winner to Drive the whole portfolio. I think that's just too hard to do.”
BioInnovation Capital Converts 100% of LPs Who Visit Their Lab Space
“When we can get an LP there, meaning this may say the second meeting is at our shop, I think we've gotten a hundred percent of those people to invest in the funds.”
BioInnovation Capital Targets Portfolio Exits Under $50M Total Funding
“So we like to say the companies have to be able to exit by the time fifty million dollars of venture money has gone in.”
No VC Firms Called Themselves Life Sciences Funds in the Late 1980s
“So back in the late eighties, there were very few specialized firms at all. None that I knew of that would call themselves, for instance, life sciences firms.”
Pharma Internal Research Headcount Dropped 5-6% Annually Over the Past Decade
“If you look at the last 10 years, the research headcount in pharma has gone down by five or six percentage points per annum, so they're half as big internal research, but now what they've done is created external R&D groups, so they're out shopping, and we hav…”
3M Post-It Note Was Invented to Communicate With CEO
“Three M is a great example of this, where the post-it note was famously invented by someone who just needed a way to communicate with the CEO on a piece of sticky paper.”
The VC Industry Had Only 200 Firms Worldwide in the Late 1980s
“There were probably, we thought, maybe 200 venture firms in the world, and in those days, the U.S. Was the predominant player in venture capital. Now, this is early stage venture capital. A lot of these were efforts that spun out of investment banks or other e…”