It's not actually fine for VCs. I recall reading somewhere (forget where) that VCs are loathe to invest in biotech because they've been repeatedly burned by sta

It's not actually fine for VCs. I recall reading somewhere (forget where) that VCs are loathe to invest in biotech because they've been repeatedly burned by startups spending a few million to set up a lab and then failing to replicate the academic result they wanted to commercialize. Getting a startup to the point where you can find out you've been defrauded is expensive, so they prefer to focus on computing where this isn't an issue.