Nature Biotechnology 25, 853 - 857 (2007)

When less is more

Bruce L Booth1

  1. Bruce L. Booth is an early-stage venture capital investor with Atlas Venture, 890 Winter Street, Suite 320, Waltham, Massachusetts 02451, USA. He focuses exclusively on the life sciences, including biopharmaceuticals and medical technologies. Before joining Atlas, he was an investor with Caxton Health Holdings and a management consultant with McKinsey & Company. e-mail:

An analysis of recent returns from venture-backed biotech firms reveals that companies receiving the most financing do not necessarily deliver the best returns.