ARTICLE | Finance

Burrill's virtual venture

January 10, 1994 8:00 AM UTC

One of the great unmet needs in the biopharmaceutical industry lies in the seemingly endless stretch of time between a company's second or third venture round and the first few years after it has gone public. Between the period when companies can look to their venture backers for help and the time when they near maturity, access to broad managerial expertise and capital can be difficult.

Steven Burrill, who was national director of manufacturing/high technology industry services at Ernst & Young for 12 years, and Fred Craves, formerly president and CEO of Berlex Biosciences, are stepping in to fill that void with the creation of a "virtual management" team of biotech's eminences grises. ...