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Article: No Shocker: VCs Remain Product-Focused Investors.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Washington Editor
JERSEY CITY, N.J. - It comes as no surprise to hear a panel of venture capitalists discuss their lack of interest in funding the earliest stages of biotech company development these days.
"Most venture funds aren't going to take that kind of risk," said Matt Rieke, a partner with Quaker Bioventures, during the third day of the Biotechnology Industry Organization's VentureForum East conference. Instead, VCs remain product-focused in an attempt to reap the quickest possible returns. Acknowledging that such an attitude produces a "missing link" for early stage companies and ideas, he urged entrepreneurs to look to alternate funding to ...