Venture capital investment in new medical technologies has reached all-time highs, with more than $25 billion invested in biopharmaceutical, medical device, and diagnostics startups in 2018.¹ However, what exact effect this has had on the clinical practice of oncology and on determining which therapies are available to patients is unclear. From 2010 to 2017, venture capital deal valuation in US biopharma companies increased by 139% to $10.5 billion and that of venture capital deals in US device companies increased by 61% to $5.0 billion.² Given the role of venture capital in financing medical innovations, oncologists and policy makers should understand the basics of venture capital, including how venture capitalists decide on investments, the potential risk-benefit effect on patients, and the implications for how new therapeutics, diagnostics, and devices enter practice.

对新医疗技术的风险投资已达到历史最高水平，2018年对生物制药，医疗设备和诊断初创公司的投资超过250亿美元^。1然而，这对肿瘤的临床实践和确定具有确切的影响目前尚不清楚哪种疗法可供患者使用。从2010年到2017年，美国生物制药公司的风险投资交易估值增长了139％，达到105亿美元，而美国器械公司的风险投资交易估值增长了61％，达到50亿美元。^2个 鉴于风险投资在医疗创新融资中的作用，肿瘤学家和政策制定者应了解风险投资的基本知识，包括风险资本家如何决定投资，对患者的潜在风险收益影响以及对新疗法，诊断方法，和设备进入练习。