Friday 10 April 2015

Venture capitalists ride biotech wave one drug at a time

Just two, judging by the sale of XO1, a one-drug British firm snapped up last month by Johnson & Johnson. Ten years on from pioneering an ultra-lean business model focused on investing in "virtual" companies with a single experimental medicine, XO1's backer Index Ventures is chalking up some notable wins. XO1, spun out of Cambridge University research to develop a novel anti-blood clotting drug, is the eleventh biotech firm to be sold from a portfolio of 34 so-called asset-centric biotech companies created by Index since 2005. "The ruthless focus you get from having a one-molecule company decreases the cost per project and dramatically improves the quality of decision-making," Index partner Francesco De Rubertis, a former scientist said. via Health News Headlines - Yahoo News Read More Here..

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