‘Exciting Times’ for Life-Science VC

Big pharmaceutical and biotechnology corporations are on the hunt for acquisitions, and this spells opportunity for Lumira Capital, a Toronto-based venture capital firm that backs health and life science companies.

A slowdown in the VC space has meant “we’re actually in probably one of the most exciting times in the venture space in the Canadian marketplace,” according to Lumira’s president and CEO, Peter van der Velden, who adds that there are “a lot fewer managers. The quality of the deals has gone up.”

In an exclusive interview with Privcap, van der Velden discusses the evolving ecosystem for life sciences in Canada, as well as the importance of university research in Lumira’s research, the need for a global strategy among his portfolio companies, the effect that decreasing patent revenue is having on deal flow, and the need for specificity in a good life sciences investor. (On Nov. 21 2011 Gilead announced it would acquire Lumira portfolio company Pharmasset for $11bn).