Situational hitting

Burrill & Co.'s fourth fund, which had a first close of $313 million, marks a shift in strategy. Instead of swinging for the fences, the strategy will "move away from big hits in therapeutics and move more to Orphan indications or near-term hits."

At the same time, G. Steven Burrill told Ebb & Flow, the fund won't invest in areas "that are me-too - they must be transformative."...