In year that has seen biotechnology exchange traded funds dominate other sector ETFs, it might appear as though the time is right for some new competitors to come to market.

LifeSci Index Partners, LLC, a New York City-based investment advisor and index provider, is banking on demand for biotech ETFs, both new and old, with today’s launch of the BioShares Biotechnology Clinical Trials Fund (NasdaqGM: BBC) and the BioShares Biotechnology Products Fund (NasdaqGM: BBP).

BBC wil track the BioShares Biotechnology Clinical Trials Index, which is sponsored by LifeSci Index Partners, LLC.

The index excludes large pharmaceuticals companies as well as medical devices and diagnostics; life science tools; specialty pharmaceuticals, generic drugs and outsourced drug delivery; healthcare services; contract research organizations; neutraceuticals; agricultural biotechnology; animal health; diversified healthcare; food sciences; information technology; and nanotechnology firms. [Interesting Biotech ETFs on the Way]

Companies with a lead drug candidate in a Phase 1, Phase 2 or Phase 3 trial can be included in that index. The index had 104 constituents at the end of the second quarter.