How The Column Group's long-term strategy yielded three wins
Including milestones, Bristol-Myers Squibb Co.'s takeout of Flexus Biosciences Inc. late last month is enough to return the capital of The Column Group's entire second fund. While it's the third quick exit for TCG, the VC remains focused on creating and building platform companies it intends to hold for the long term.
"We spend very little time looking at existing companies and close to all of our time just starting two to three companies a year around an exciting new area that we think will be a fruitful area to be doing drug discovery in 5-10 years' time," said founder and Managing Partner Peter Svennilson.
The firm likes early stage drug discovery based on "unique scientific platforms with the potential to deliver multiple breakthrough therapeutics," he said.
"Each successful company should be able to return the whole fund, because we only have 8-10 bets,"