LIFESCIENCELEADER.COM MARCH 2014
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discusses the
boom-and-bust dynamics of biotech, including the
difficulties in small-cap valuation in the sector. He offers
strategic and historical context for the biotech's spectacular
gains last year. And he shares some sage advice, sobering
cautions, and provocative thoughts for the coming
year — and beyond.
,
2013 was a great year for biotechs,
with 65 small-cap IPOs in the sector globally (52 in the
United States), along with new interest from both
generalist and venture-capital investors. A late surge
in IPOs toward the end of the year silenced the
doomsayers who predicted a fall-off. But what did
all the positive action mean for the industry's long-term
future, and where is it headed in 2014? For answers,
we spoke with an experienced hand in life science
investment, Dennis Purcell, senior managing partner
at Aisling Capital.
yes
Purcell
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