Reacting to the Crisis: Biotech Venture Capital's Plan B

There are significant dilemmas facing life sciences venture capitalists buffeted by the simultaneous but distinct insults of global financial calamity and trickier-than-ever biotech partnering, regulatory, and reimbursement environments. Venture's best bet at a return is an uptick in decidedly un-venture PIPE deals that take advantage of public biotechs' miserable valuations, but those deals aren't exactly growing on trees. Despite the surfeit of bad news, there may be a bright side.