Meanwhile, lucrative exits across the industry have propelled a slew of biotech VCs to head

back to the well and assemble new funds. Over the past few months, Arch Venture
Partners, Venrock, Sofinnova Ventures and Versant Ventures have all debuted new biotech
funds. The flurry of activity comes on the heels of a year in which mainstays
like Abingworth, Frazier Healthcare and Third Rock pulled off successful new raises.