VG Life Sciences Inc. (VGLS)

[jurisper]

Certainly university research is a big source of successful drugs, but it is nevertheless the case that most uni research doesn't lead to a commercial outcome - a lot of research; a small percentage succeeds commercially.

Drug research in general of course has a low success rate. Interesting-looking recent paper http://www.nature.com/nbt/journal/v32/n1/full/nbt.2786.html

From the teaser charts you can see they claim overall success rate from Phase I thru acceptance is 10%-15%. The funnel from lab through Phase I would be even narrower, I suspect.