Skip to main content

Thank you for visiting nature.com. You are using a browser version with limited support for CSS. To obtain the best experience, we recommend you use a more up to date browser (or turn off compatibility mode in Internet Explorer). In the meantime, to ensure continued support, we are displaying the site without styles and JavaScript.

Life sciences venture capital in emerging markets

A Corrigendum to this article was published on 10 June 2013

This article has been updated

Your institute does not have access to this article

Relevant articles

Open Access articles citing this article.

Access options

Buy article

Get time limited or full article access on ReadCube.

$32.00

All prices are NET prices.

Figure 1: VC investments in innovative healthcare biotechnology by year.
Figure 2: Major VC investment categories for innovative healthcare biotechs.
Figure 3: Syndicate and mean investment size of life sciences VC deals by geography and by stage (series A or series B) from 2000 to 2012.

Change history

  • 30 April 2013

    In the version of this article initially published, in Table 1, the number of health biotech firms, including those not backed by venture capital, in South Africa, was given as 78 in 2007. It should be 64 in 2010. The error has been corrected in the HTML and PDF versions of the article.

References

  1. Rezaie, R. et al. Nat. Biotechnol. 26, 627–644 (2008).

    CAS  Article  Google Scholar 

  2. Frew, S.E. et al. Nat. Biotechnol. 25, 403–417 (2007).

    CAS  Article  Google Scholar 

  3. Frew, S.E. et al. Nat. Biotechnol. 26, 37–53 (2008).

    CAS  Article  Google Scholar 

  4. Al-Bader, S. et al. Nat. Biotechnol. 27, 427–445 (2009).

    CAS  Article  Google Scholar 

  5. Anonymous. Nat. Rev. Microbiol. 8, 310 (2010).

  6. Salter, B. Int. J. 5, 341–357 (2011).

    Google Scholar 

  7. Melon, C.C. et al. Nat. Biotechnol. 27, 229–232 (2009).

    CAS  Article  Google Scholar 

  8. Thorsteindottir, H. et al. Nat. Biotechnol. 28, 407–416 (2010).

    Article  Google Scholar 

  9. Anonymous. Biotech 2011 Life Sciences: Looking Back to See Ahead (Burrill & Co., 2011).

  10. Scott, G.B., ed. China Life Science 2012: From Local to Global. (ChinaBio, 2012).

    Google Scholar 

  11. Salter, B. East Asian Sci. Technol. Soc. Int. J. 3, 401–420 (2009).

    Google Scholar 

  12. Anonymous. Global Life Sciences Cluster Report (Jones Lang LaSalle, 2011).

  13. Daverman, R. VC investment in China life sciences climbs 300%, tops $1 billion. China Biotech Today (4 February 2011).

    Google Scholar 

  14. Anonymous. MoneyTree: Zigzagging Upwards (Pricewaterhouse Coopers, 2012).

  15. PhRMA. Private and Public R&D Spending (1995–2009). http://www.phrma.org/private-public-rd-spending (1995–2009).

  16. Anonymous. Beyond Borders: Global Biotechnology Report (Ernst & Young, 2011).

  17. Zucker, L. et al. Am. Econ. Rev. 88, 290–306 (1998).

    Google Scholar 

  18. Janssens, B. Life Sciences R&D: Changing the Innovation Equation in India. US-India BioPharma Summit (Boston Consulting Group, 2011).

    Google Scholar 

  19. Lerner, J. Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed–and What to Do About It (Princeton University Press, 2009).

    Book  Google Scholar 

  20. Lamprecht, S.J. & Swart, E. South African Venture Capital Association: 2010 SAVCA Venture Solutions VC Survey (SAVCA, November 2010).

    Google Scholar 

  21. Hughes, B. & Vasella, D. Nat. Rev. Drug Discov. 9, 98 (2010).

    CAS  Article  Google Scholar 

  22. Anonymous. China Pharmaceuticals. Asian Insight: China has R&D. Morgan Stanley Asia Insight (6 November 2012).

  23. Qi, J. et al. Nat. Rev. Drug Discov. 10, 333–334 (2011).

    CAS  Article  Google Scholar 

  24. Cumming, D. Venture Capital: Investment Strategies, Structures and Policies (Wiley & Sons, Hoboken, New Jersey, USA, 2010).

    Book  Google Scholar 

  25. Lockett, A. Omega 29, 375–390 (2001).

    Article  Google Scholar 

  26. Anonymous. GSK devotes unit to traditional Chinese medicine R&D. ChinaBio Today (13 February 2012).

  27. Koul, R. Public funding zooms past $650 million for Indian life science. BioSpectrum Asia (14 November 2012).

    Google Scholar 

  28. Yuan, R. Establishing a biotech industry in Singapore. Genetic Engineering News (15 April 2005).

    Google Scholar 

  29. Smaglik, P. Nature 455, 1143 (2008).

    Article  Google Scholar 

  30. Huggett, B. Nat. Biotechnol. 29, 1066–1067 (2011).

    CAS  Article  Google Scholar 

  31. Chakma, B. & Govindarajan, V. Harv. Bus. Rev. Blog Network http://blogs.hbr.org/govindarajan/2011/02/what-venture-capital-can-learn.html (2011).

  32. Thorsteinsdóttir, H. et al. Nat. Biotechnol. 28, 407–416 (2010).

    Article  Google Scholar 

Download references

Acknowledgements

We gratefully acknowledge B. Pang for assisting with the statistical analysis and translation of the Chinese data.

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Justin Chakma.

Ethics declarations

Competing interests

Justin Chakma is an analyst at a life sciences venture capital firm. Stephen M. Sammut is a venture partner at a life sciences venture capital firm.

Supplementary information

Supplementary Text and Figures

Supplementary Methods, Supplementary Tables 1 and 2, and Supplementary Figure 1 (PDF 356 kb)

Rights and permissions

Reprints and Permissions

About this article

Cite this article

Chakma, J., Sammut, S. & Agrawal, A. Life sciences venture capital in emerging markets. Nat Biotechnol 31, 195–201 (2013). https://doi.org/10.1038/nbt.2529

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1038/nbt.2529

Further reading

Search

Quick links

Nature Briefing

Sign up for the Nature Briefing newsletter — what matters in science, free to your inbox daily.

Get the most important science stories of the day, free in your inbox. Sign up for Nature Briefing