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Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – Working with a startup biotech or thinking about launching one and searching for investors?

Then think as virtually as possible and outsource as much as possible.

So writes Brian Gormley in the Venture Capital Dispatch at the Wall Street Journals Web site. Gormley notes that venture firms are looking to build biotech companies for $25 million rather than $100 million and then hit the exit ramp.

“Venture firms used to build biotech concerns up quickly so they could take them public,” Gormley writes. “But today, with a public offering a long shot for most biotechs, many investors are taking the opposite approach – they are backing virtual businesses, which employ only a few people and contract out almost every task, from the early lab work to clinical trials.”

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