An analysis of recent returns from venture-backed biotech firms reveals that companies receiving the most financing do not necessarily deliver the best returns.
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References
Booth, B.L. Nat. Biotechnol. 25, 1335–1340 (2006).
Pisano, G. Science Business (Havard Business School Press, Cambridge, MA, 2006).
Lähteenmäki, R. & Lawrence, S. Nat. Biotechnol. 25, 729–737 (2007).
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Acknowledgements
The author would like to thank his colleagues at Atlas Venture for their advice and feedback, and in particular Kevin Clancy for his assistance with the article.
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Atlas Venture is an investment firm focused on early-stage biotech and the author has pecuniary interest in Atlas's success.
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Booth, B. When less is more. Nat Biotechnol 25, 853–857 (2007). https://doi.org/10.1038/nbt0807-853
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DOI: https://doi.org/10.1038/nbt0807-853
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