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To: Proud_Infidel who wrote (129834)	3/12/2001 4:51:53 PM
From: willcousa	Read Replies (1) \| Respond to of 186894

Did you mean Capthesin?

To: Proud_Infidel who wrote (129834)	3/14/2001 6:35:19 AM
From: Amy J	Respond to of 186894

OT Hi Brian, I have always felt that biotech is a special area, harder than computer tech. Biotech's research is longer/harder and less profitable for VCs (IMO), yet the benefits are so important to humankind. So, I've always felt biotech is special in this regards, and thus, deserves some type of government support (tax credits to corporations; or funding programs to universities for research) for the benefit of humankind. Biotech research (R) deserves support, otherwise some of these biotech projects wouldn't get off the ground. However, computer-tech is easier, and so, doesn't require as much R support as biotech. But likewise, I do believe the R belongs in the labs where Ph.D.'s determine the validity of a research project (that only a Ph.D. would be able to figure out), while a VC determines the validity of the business model of D (that only a VC would be able to figure out). Turning creative R into practical D can be incredibly rewarding. But, yes, I do think biotech is a very special case. A biotech startup requires capital on the order of $100M to $200M, at a minimum, I was told. I don't believe that's the case for computer-tech (unless you're targeting the consumer market, where the reach-costs are high.) Why would a VC invest $200M in a biotech company, when they can invest $20M in a computer-tech company and go public in 3 to 5 years as oppose to 10-15 years? The risk is higher for a biotech VC and the return isn't as good, it appears. Regards, Amy J