[Updated 12:44 p.m.] Joyce Emerson Cleary -- formerly a sales exec with Schering-Plough, Protherics, MedImmune and other pharma-bio players -- argues in today's Tennessean that while the TNInvestco venture-capital program being launched by the state is a potential boon to the state's life-sciences industry, abbreviated protection of proprietary pharma research data, as proposed in legislation now before Congress, will undercut bio entrepreneurial activity, here and elsewhere. Given the apparent aversion of most local VCs for tech development of any kind (particularly in this economy), invoking TNInvestco in this argument may be a stretch. Cleary's comments, and those of the authors of an opposing argument in today's paper are worth a read. Unfortunately, TSN content goes behind the cost wall, pretty quickly. [Update:] Cleary is president-CEO of The BioGenesys Group, a consulting company that Cleary intends to organize as an LLC. Cleary told VNC following our original post that she believes it is realistic to think that Tennessee VCs will invest in biologics and other life-science ventures, once they understand the "lifecycle" of such ventures. New ventures need not develop their own new assets (they can buy or license assets from others); also, throughout the long lifecycle of bio ventures, there are often a number of profitable exits available for investors, prior to the venture becoming profitable or being sold.
Friday, August 28, 2009
[Updated] BioVCs? TNInvestco invoked
[Updated 12:44 p.m.] Joyce Emerson Cleary -- formerly a sales exec with Schering-Plough, Protherics, MedImmune and other pharma-bio players -- argues in today's Tennessean that while the TNInvestco venture-capital program being launched by the state is a potential boon to the state's life-sciences industry, abbreviated protection of proprietary pharma research data, as proposed in legislation now before Congress, will undercut bio entrepreneurial activity, here and elsewhere. Given the apparent aversion of most local VCs for tech development of any kind (particularly in this economy), invoking TNInvestco in this argument may be a stretch. Cleary's comments, and those of the authors of an opposing argument in today's paper are worth a read. Unfortunately, TSN content goes behind the cost wall, pretty quickly. [Update:] Cleary is president-CEO of The BioGenesys Group, a consulting company that Cleary intends to organize as an LLC. Cleary told VNC following our original post that she believes it is realistic to think that Tennessee VCs will invest in biologics and other life-science ventures, once they understand the "lifecycle" of such ventures. New ventures need not develop their own new assets (they can buy or license assets from others); also, throughout the long lifecycle of bio ventures, there are often a number of profitable exits available for investors, prior to the venture becoming profitable or being sold.
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