venBio's winter Solstice

The fact that venBio has just led an $18 million series A round in RNAi delivery company Solstice Biologics LLC does not portend a series of early stage deals for the firm. Instead, venBio views the financing as a one-off investment that could produce returns in three years.

"We have a white space where if we see something that's earlier that we think has the potential to be special, we can go make an investment,"...