Traditional Venture Model is “Broken” for Biotech, Companies Need to Adapt, Says VC Alan Frazier | Xconomy January 21, 2012Posted by Brian Wadsworth in Advice and Guidance, Insight, Inspiration.
Alan Frazier, Frazier Healthcare Ventures
December 4th, 2008
Frazier, for those who don’t know, is the founder and managing partner of Seattle-based Frazier Healthcare Ventures. The company, founded in 1991, has raised seven venture funds with a total of $1.8 billion for emerging biotech, medical devices, and healthcare services companies. Before that, he was one of the early executives at Seattle-based Immunex during its fast-growing 1980s heyday.
To hear Frazier talk now, the days when VCs could gamble on a promising technology and a driven management team, with the idea of creating the next Amgen, Genentech, or Immunex, are history. “The traditional venture capital model is broken,” he says.
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