Lightning can definitely strike the same place twice, or so it seems in biotech. Before sharing some thoughts on the overall approach, it’s worth sharing more color on the recent example of iPerian/True North for context. iPerian raised ~$80M over the next five years, in the latter part pivoting its business plan into antibody development. Across both, an aggregate of $220M went into these assets for $575M in upfront value and up to $975M in milestones–roughly $1.5B in value. Some of the progeny from prior spinouts have died or simply fallen off the radar: Novacardia/Sequel, Serenex/Coserics, Sirion/Revision and many other parent/spinouts haven’t gotten hit with lightning twice.

Source: Forbes May 25, 2017 11:56 UTC