Peter Thiel knows a promising tech startup when he sees one. The investor was the first outside investor in Facebook. But does he have the same touch in biotech?
The prominent Silicon Valley venture capitalist’s investment fund has put its largest ever bet on a biotech company called Stemcentrx, a private and all-but-unheard-of San Francisco company developing cancer drugs that debuted this week with a spectacular valuation worth billions (see “Peter Thiel Backs Biotech ‘Unicorn’ Fighting Cancer Stem Cells”).