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How large pharma impacts biotechnology startup success

Implications for bioentrepreneurs.

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Fig. 1: Involvement of large pharma throughout the startup life cycle.
Fig. 2: Success rate for startups with and without large pharma investors.
Fig. 3: Median current market capitalization and acquisition value for startups with and without large pharma investors.
Fig. 4: Startup success rate by development stage at first venture financing round.
Fig. 5: Investor ties to large pharma. Investors’ share of their successful portfolio companies that have exited via acquisition and share of investors’ portfolio companies that have attracted large pharma in the same or subsequent years of the investment.


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Correspondence to Daniela S. Couto.

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G.M.v.D. and D.S.C. are employed by BioGeneration Ventures and S.v.D. is employed by Forbion Capital Partners. These companies invest in biotech ventures.

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Melchner von Dydiowa, G., van Deventer, S. & Couto, D.S. How large pharma impacts biotechnology startup success. Nat Biotechnol 39, 266–269 (2021).

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