According to a new study by Deerfield Management Company, there is a large Gender Disparity on the boards of venture-backed health care firms, which is unsettling but not shocking. Deerfield, a healthcare investment management company, looked at 140 companies that had raised at least $25 million in venture capital (VC) funding. The company made their board members’ names public on their corporate website.
They discovered that nearly half of these organizations (48.5%) did not have a single female board member and that women only made up about 10% of board director positions. According to BioSpace’s own 2020 U.S. Life Sciences Diversity & Inclusion Study, only 14% of female respondents thought their companies’ advancement opportunities were equal, while 24% said that workers of all backgrounds are encouraged to apply for higher positions. Compared to 35% of males, this was a significant difference.
For the past few years, investors have favored investing in seasoned CEOs, most of whom have been guys. The choice is also a logical answer to what is referred to as the biotech “dark ages.”