Investing in biotech companies may not entail higher risk than investing in other sectors, according to a new report from Bentley University's Center for Integration of Science and Industry. A large scale study of biotechnology companies that completed Initial Public Offerings (IPOs) from 1997-2016 demonstrates that these companies produced more than $100 billion in shareholder value and almost $100 billion in new value creation despite a failure rate greater than 50%. The study compared the financial performance and economic value created by these biotech companies to non-biotechnology controls that had similarly timed IPOs.