Monthly Archives: May 2011

Structuring a Biotech Liquidity Thesis
May 25, 2011

We all recognize that realizing value from a biotech company has historically been geared to one of two paths, IPO or M&A, and that they’ve both been getting tougher.  There’s been a number of articles recently about some of the


Biotech IPO “Class of 2010” Continues to Impress
May 18, 2011

Matt Herper over at FORBES suggested I update and repost the “Glimmer of Hope” “Class of 2010″ biotech IPOs blog post, which I’ve now done, and the performance continues to impress: The average and median performance of this “Class” is 33%


Starting a biotech? Advice for how to pitch VCs.
May 17, 2011

Lots of great advice exists for tech entrepreneurs trying to pitch to VCs, but very little for the aspiring life science entrepreneur, especially for therapeutics startups.  Since that’s the type of deal we invest a good portion of our fund


Double-dipping in the Life Sciences
May 8, 2011

Understanding the impact of different venture capital deal terms is not well appreciated by most Life Science entrepreneurs, especially in the early stage ecosystem.  Moreover, knowing what the “market rate” for these terms are is rarely data-driven and often more


Dirty little secret of Biotech IPOs: Insider participation
May 3, 2011

Everyone knows that the biotech IPO market is and has been challenging.  But one of the most troubling developments, and the least transparent to the outside, has been the increased importance of significant insider participation to get IPO’s priced. In