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.

The US Food and Drug Administration has named Dr. Vinay Prasad, a hematologist oncologist, to lead its Center for Biologics Evaluation and Research, the division that oversees vaccines and biologic medicines.

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