Biotech innovation being threatened

As leaders in the biotech industry sat this week in a conference room on Sand Hill Road, ground zero for venture capitalists, the news for biotech startup companies wasn’t music to their ears.

One investor went as far as calling the current investing climate "Armageddon" for biotech startups.

"Because the burden of proof to get drugs approved is suddenly so high, investors like us look at the risk and say, ‘It’s just not worth it,’" said Doug Kelly, founding member and general partner of Alloy Ventures. "There is a fundamental lack of understanding at the federal level on what it takes to innovate."

By David Morrill
San Mateo County Times

Full Story: http://www.insidebayarea.com/business/ci_13217601