Biotech venture capital is risky business, inherently at the mercy of regulators and binary outcomes. Now it may face a new challenge in the form of Vinay Prasad, who this week was named to lead the FDA's Center for Biologics Evaluation and Research.

In his new role with the FDA, Dr. Vinay Prasad will oversee the regulation of costly drugs, including vaccines, gene therapies, and blood supply.

FDA commissioner Marty Makary told FDA staff in an email that Prasad, “brings a great set of skills, energy, and competence to the FDA,” Axios reported.