Business Of Biotech

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On this week's episode of the Business of Biotech, Edward (Ned) Patz, M.D., Cofounder and CEO at Grid Therapeutics, explains how a Duke University lab discovery turned into Grid Therapeutics and two clinical-stage cancer immunotherapy programs. Ned talks about discovering the human-derived antibody treatment GT103 and novel Compliment Factor H (CFH) target, the messy realities of funding a new therapeutic approach in cancer, and the leadership lessons that come with running a scrappy virtual biotech.

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On this week's episode of the Business of Biotech, Keith Murphy, CEO at Viscient Biosciences, unpacks how 3D human tissue models and scaffold-free bioprinting can change the way developers predict drug safety and model disease. Keith traces his professional journey from MIT and Amgen, to founding Organovo and building Viscient and VivoSim (formerly Organovo) into companies that push New Approach Methodologies (NAM) adoption and smarter, more efficient drug development. Keith also shares policy ideas the FDA could use to further incentivize the use of NAMs.

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On this week's episode of the Business of Biotech, Bret Bostwick, M.D., Venture Partner at Breyer Capital, a family office, talks about his path from medical geneticist to CNS drug development and biotech investing. Bret reflects on lessons he learned at Alnylam about the power of genetically validated drug targets and the importance of team culture, why CNS drug development fails so often, and the problem with animal models. He also talks about where AI is truly helping early-stage biotechs, and where it can create problems.

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On this week's episode of the Business of Biotech, Simeon George, M.D., Cofounder and CEO at SR One Capital Management, returns to the show to talk about how SR One evaluates biotech investment targets, and the good and bad signs that emerge during diligence. Simeon also discusses a new report published by SR One on how AI and China are changing the strategy and playbook for new drug creation.

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On this week's episode of the Business of Biotech, Cyriac Roeding talks about cofounding and leading Earli, a "bioAI" company using synthetic DNA switches and cancer-binding lipid nanoparticles to transform cancer cells into immune therapy-producing factories in vivo. Cyriac also discusses China’s newest five-year plan for biotech (2026 to 2030), why U.S. funding cycles are pushing innovation offshore, and how a U.S. sovereign wealth fund could support preclinical and early-stage drug development leadership at home.

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On this week's episode of the Business of Biotech, Philina Lee, Ph.D., CEO at AdvanCell, explains how lead-based targeted alpha therapies can unlock deeper, more durable cancer responses, and why radiopharmaceutical companies live or die by manufacturing. Philina talks about AdvanCell's recent oversubscribed $315 million Series D raise, the company's vertically integrated manufacturing capability, and future plans for a regional U.S. manufacturing network. She also reflects on the current targeted alpha therapy landscape and how it could evolve over the next few years.

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On this week's episode of the Business of Biotech, Alex Aravanis, M.D., Ph.D., CEO of Moonwalk Biosciences, talks about the opportunity in obesity beyond GLP-1s. He describes Moonwalk’s adipose-targeted siRNA strategy, the genetics-driven logic behind its targets, and what it takes to fund and build a clinical-stage company. Alex also discusses Moonwalk's recent $70 million Series B raise, using AI to prioritize targets and improve siRNA design, and how weight loss without appetite suppression could preserve lean muscle mass and improve tolerability.

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On this week's episode of the Business of Biotech, Independent Board Director and five-time public company CFO Alan Shaw returns to the show for an update on current biotech financing and the strategies needed to secure capital now. Allan explains how biotech investors price risk as the market opens back up, the importance of valuation discipline, and the financing choices that separate “available capital” from “accessible capital.” Allan also discusses the trade-offs inherent to different funding types.

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On this week's episode of the Business of Biotech, David Craig, Cofounder, President, and CEO at Sarcomatrix, explains why the old biotech playbook breaks down in today’s funding environment and what it takes to build a lean virtual drug development company without institutional financing. Craig describes practical financing paths, hard truths about costs, and the tradeoffs that make a rare disease program investable through alternative fundraising strategies. He also shares what can and cannot be outsourced, and how regulatory sequencing shapes financial planning and timelines.

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On this week's episode of the Business of Biotech, Olivier Litzka, Partner at Andera Partners, talks about what it really takes for biotech companies to attract capital, stay focused, and survive the moments when biology and execution punch back. Olivia also discusses a collaborative effort in Europe to create a stronger public market and investor base, and what the emergence of AI and Chinese biotech means for building tomorrow's biotech companies.

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On this week's episode of the Business of Biotech, Omar Khalil, Managing Director at Santé Ventures, describes forming and funding startups and early-stage biotech companies with a focus on clinical data and differentiation as the key value drivers. Omar talks about his interest in 'undruggable targets,' what's happening with the IPO market, an investor shift from biology risk to commercial risk, and building companies through a venture creation process.

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On this week's episode of the Business of Biotech, Brian Sullivan, CEO at Celcuity, talks about winning the company's first FDA approval for Revtorpyk, a kinase inhibitor for breast cancer patients, and why targeting an “untreated disease mechanism” can beat chasing a single mutation. Brian also discusses the process for licensing a shelved Pfizer asset for development, designing Phase 3 trials that challenge assumptions, the benefits of FDA's Real-Time Oncology Review, and managing downside risk while advancing new indications, all while building a launch-ready company without losing pipeline momentum.

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On this week's episode of the Business of Biotech, Paul Hastings, Founding CEO and Board Member at Nkarta, an allogeneic cell therapy developer, talks about building off-the-shelf CAR NK cell therapies for autoimmune disease. Paul is candid about problems with clinical trial infrastructure in the U.S., what it will take to fix trial access (biotechs should actively facilitate patient access to trials and work with community health centers to establish new trial sites), and why biotech leaders have a responsibility to speak up about federal policies shaping the life sciences innovation ecosystem.

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On this week's episode of the Business of Biotech, Annette Bakker, Ph.D., CEO at the Children's Tumor Foundation, and Andrew Lo, Ph.D., Finance Professor at MIT's Sloan School of Management and Director of the Laboratory for Financial Engineering, talk about the methods and economics for turning abandoned drug candidates into new therapies for patients. Annette and Andrew share the story of Gomekli, a formerly shelved Pfizer drug candidate spun out into SpringWorks Therapeutics, and approved in 2025 for NF Type 1 tumors (Merck KGaA subsequently acquired SpringWorks for $3.9 billion). They also detail plans for bringing more shelved candidates back into development, using a shared data infrastructure and a matchmaking tool to pair interested drug developers with investors and funding.

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On this week's episode of the Business of Biotech, Aris Baras, M.D., SVP, Head of Regeneron Genetics Center (RGC) and Co-Head of Regeneron Genetic Medicines, talks about using large-scale human genetics to find better drug targets based on "superhuman" variants. Aris explains how multi-omics, linked health records, and AI are helping developers move faster in the clinic and reduce the odds of failure, while also pushing biotech toward earlier disease prediction and more preventive care.

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On this week's episode of the Business of Biotech, Matt Winton, Ph.D., Chief Commercial and Business Officer at CervoMed, talks about preparing for the late-stage development of neflamapimod in dementia with Lewy bodies (DLB) and commercial planning for an anticipated launch. Winton talks about CMC and manufacturing scale-up, partnership, communicating with regulators and the benefits of global regulatory alignment on protocols for the Phase 3 trial. He also talks about building value through HEOR and payer engagement in parallel with clinical development, and pricing in the context of policy changes and shifting global launch dynamics.

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On the Business of Biotech this week, industry veteran Dr. Jeremy Levin, Founder, Chairman, and former CEO at Ovid Therapeutics, sits down alongside the 2026 BIO Convention to talk about why public distrust and politicized institutions are putting the scientific enterprise at risk. We dig into what biotech leaders owe patients and the public, how innovation and capital can migrate out of the U.S., and what it takes to build biotech companies that last. Dr. Levin talks about his recently published book, Biotech in the Balance: Saving a Strategic Industry in an Age of Distrust, what he learned during the writing process, and offers advice for first-time biotech CEOs.

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This week's episode of the Business of Biotech was recorded at the BIO Convention in San Diego, where guest Maha Radhakrishnan, M.D., Executive Partner, Private Equity, at Sofinnova, spoke about her move from big pharma and biotech to private equity investing, and what makes a late-stage asset deal work. Maha also talks about how China-originated programs are changing development timelines, and where the next wave of CNS and metabolic innovation could come from.

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On this week's episode of the Business of Biotech, Al Sandrock, M.D., Ph.D., President and CEO at Voyager Therapeutics, talks about why tau is becoming a central target in Alzheimer’s drug development and how gene therapy delivery across the blood-brain barrier could change what treatment looks like at scale. Sandrock shares his current thinking on the amyloid vs. beta debate (it's likely both) in Alzheimer's disease treatment, the role of emerging tools like fluid biomarkers in diagnosis and prevention, and why small biotechs take bigger risks than big pharma.

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On this week's episode of the Business of Biotech, William Ho, CEO of IN8bio, explains why gamma delta T cells may have an edge against cancer, including solid tumors like glioblastoma. He also offers up a candid and step-by-step look at what it takes to finance an early clinical-stage cell therapy company through a punishing IPO market and a long cash crunch.

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