Thursday, November 09, 2006

Will Amendment 2 spark venture capitalists?

The St. Louis Post-Dispatch has a quote concerning the passage of Amendment 2:

Len Toenjes, president of the Associated General Contractors of St. Louis, said he expects passage of Amendment 2 to spark Cortex development: "A lot of that is based on venture capital investment, and I think a lot of those folks were sitting by the sidelines and waiting to see what the outcome of this would be before they (invested)."

Sorry dude, but that wasn't the issue.

As observed in IPBiz on April 19:

Noting that only $120 million of $5.9 billion in biotech venture capital went to stem cell research in 2005, Terri Somers suggested reasons including scientific uncertainties, intellectual property issues and the lack of any clear path to make a return on investments in stem cell-based companies. I think the bigger reason is that no venture capitalist sees a payout in the seven year or less timescale.

Look also here:

The folks in Missouri are going to be surprised when the venture capitalists don't flock to Missouri. Or, ...


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