In this video with The Deal Pipeline's David Marcus, Latham & Watkins LLP partner Alan Mendelson talks about the state of biotech venture capital funding. Says Mendelson, the financing environment is "the worst I've experienced in the 32 years that I've been representing biotech companies." He goes on to explain that a troubled IPO market is partly to blame. "For the most part, IPOs have just dried up as a mechanism for providing liquidity." - Katie Roof

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