Monday, April 29, 2013
Despite a gloomy quarterly
report from PricewaterhouseCoopers and the National Venture Capital
Association that noted a dearth in first-time financings for drug and
device newcos in the U.S., at least one investor sees reason for optimism.
"The optimistic spin is
that fewer financings mean those that do get done are the best companies,"
said Deerfield's Jonathan Leff, who serves on NVCA's executive committee. "But
the success rate in biotech is such that