Too much promising and too little delivering has caused many VC firms to shut their doors.  In a recent article by Xconomy the author shares that the majority of biotech VCs are struggling to stay afloat. This is no surprise to the VC industry: there were 1,022 active firms during the tech bubble year of 2000, and just 462 active firms were left in 2010. The downfall of biotech venture capital has forced a generation of entrepreneurs to brainstorm new ideas of building biotech companies. During this tough time in biotech venture capital, IPOs are generating options for companies such as Calabasas, CA-based Kythera Biopharmaceuticals and New York based Intercept Pharmaceuticals from sinking completely.  Now that these two companies have joined the club, a healthy 11 of the 12 biotech IPOs this year have gone up. The total number of IPOs so far this year already equals the number of IPOs in all of 2011. Click here to read an article by FierceBiotech which shares additional information about what is happening with biotech venture capital and IPOs.