Commentary Same old story

If venture capital firms are truly revamping their company startup models, the message of change in the industry doesn't seem to have seeped through to the startups themselves.

At the recent meeting of the Oxford BioScience Partners/Ernst & Young National Conference on Biotechnology Ventures, we were struck by the bland uninformativeness of the vast majority of the presentations we heard. With the conspicuous exception of RiboGene Inc., which has an experienced CEO in Charles Casamento, management spoke as if it were still luxuriating in the generous environment of two or three years ago, rather than in the survival of the fittest world of today.