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.

BUILDING A BUSINESS

Stepping to the exit

An Author Correction to this article was published on 05 November 2021

This article has been updated

A historical analysis of oncology deals can help bioentrepreneurs navigate the right time for partnerships and exits and can inform on the type of investors likely to be interested.

This is a preview of subscription content, access via your institution

Access options

Rent or buy this article

Prices vary by article type

from$1.95

to$39.95

Prices may be subject to local taxes which are calculated during checkout

Fig. 1: Deal stage of oncology venture at time of acquisition.
Fig. 2: Capital invested in oncology ventures until exit.
Fig. 3: Number of oncology venture financings and type of investors.
Fig. 4: Roadmap to exit.

Change history

References

  1. Prencipe, D. The European venture capital landscape: an EIF perspective. Volume III: Liquidity events and returns of EIF-backed VC investments. https://www.fi-compass.eu/sites/default/files/publications/eif_wp_41.pdf(European Investment Fund, 2017).

  2. Booth, B. New data on venture capital returns: exits are indeed improving. Forbes https://www.forbes.com/sites/brucebooth/2012/10/03/new-data-on-venture-capital-returns-exits-are-indeed-improving/?sh=36f724379d69 (2012).

  3. Thomas, D. et al. Clinical development success rates and contributing factors 2011–2020. https://www.bio.org/clinical-development-success-rates-and-contributing-factors-2011-2020 (BIO | QLS Advisors | Informa UK, 2021).

  4. Paul, S. M. et al. Nat. Rev. Drug Discov. 9, 203–214 (2010).

    Article  CAS  Google Scholar 

  5. Micklus, A. & Giglio, P. Nat. Rev. Drug Discov. 19, 87–88 (2020).

    Article  CAS  Google Scholar 

  6. Giniatullina, A., Boorsma, M., Mulder, G. J. & van Deventer, S. Nat. Biotechnol. 31, 284–287 (2013).

    Article  CAS  Google Scholar 

  7. Melchner von Dydiowa, G., van Deventer, S. & Couto, D. S. Nat. Biotechnol. 39, 266–269 (2021).

    Article  CAS  Google Scholar 

  8. Hardison, S. Biopharma Dealmakers 15, 83–85 (2021).

    Google Scholar 

  9. Albrecht, B., Capra, E., Reichert, M. & Salazar, P. Precision medicine in practice: strategies for rare cancers. https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/precision-medicine-in-practice-strategies-for-rare-cancers (McKinsey, 2021).

  10. Fidler, B. Record numbers of biotechs are going public. Here’s how they’re performing. BioPharma Dive https://www.biopharmadive.com/news/biotech-ipo-performance-tracker/587604/ (2021).

  11. Cameron, T. & Morrison, C. Nat. Rev. Drug Discov. 20, 93–94 (2021).

    Article  CAS  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Ernst-Jan Geutjes.

Ethics declarations

Competing interests

All authors are employed by Aglaia Oncology Funds, which invests in oncology start-ups.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

de Bloeme, C.M., Jansen, R.W., Krul, M.R.L. et al. Stepping to the exit. Nat Biotechnol 39, 1048–1054 (2021). https://doi.org/10.1038/s41587-021-01007-1

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1038/s41587-021-01007-1

This article is cited by

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