The publication record of health-care start-up companies doesn’t seem to matter to investors, according to an analysis of nearly 50 biomedical ‘unicorns’ — venture-capital-backed companies valued at more than US$1 billion.
The analysis1, led by health-policy researcher John Ioannidis at Stanford University in California, finds no correlation between a company’s market valuation and its publication record — defined as the number of peer-reviewed papers authored directly by a firm. That’s a cause for concern, the authors say.
