Sebastian Gensior

The GTN Landscape: A $356 Billion Problem Enters a New Era "Gross-to-net" (GTN) refers to the difference between a drug's list price—often the Wholesale Acquisition Cost (WAC)—and the net revenue the manufacturer actually realizes after all discounts, rebates, and fees. In today&

In Silico Medical Device Regulation Reaches Global Inflection Point The regulatory landscape for computational modeling in medical device development has undergone significant transformation as of January 2026. The FDA's November 2023 credibility framework remains the global gold standard, but the European Commission's December 2025 MDR simplification

The second week of 2026—dominated by the 44th Annual J.P. Morgan Healthcare Conference in San Francisco—delivered over $12 billion in announced transaction value despite the conspicuous absence of any transformational M&A

Royalty financings in pharma and biotech are increasingly "stacked" – multiple monetizations and debt facilities layered on identical royalty streams. With Royalty Pharma deploying $4.7 billion in 2025 alone and the broader market exceeding $10 billion annually, understanding how priority waterfalls function – and where they fail – has become

Executive Summary Droia Ventures is a Belgium-based venture capital firm that has established itself as one of Europe's most focused biotech investors. Founded in 2011 with headquarters in Zaventem (Belgium) and Luxembourg, the firm manages approximately €450-600 million across dedicated funds targeting two therapeutic areas: oncology

No, they're not selling disco balls—but DISCO Pharmaceuticals certainly knows how to shine in biotech. The company name immediately conjures images of glittering mirror balls and 1970s dance floors, an association the founders clearly embraced given their playful branding. Yet the name carries deeper meaning rooted in

Repayment caps have emerged as the defining structural element of synthetic royalty transactions, appearing in 72% of deals from 2019–2024. By 2024, a significant majority of deals included some cap on investor returns, making this a standard feature for development-stage financings. This guide provides comprehensive coverage of cap

The commercialization of academic research has become one of the most consequential—yet least understood—dynamics in global pharmaceutical markets. In 2024, UK university spinouts raised a record £2.6 billion, up 38% from the prior year, even as the broader British high-growth company market contracted by 19%. Across

European biopharma companies frequently monetize their U.S. royalty streams by selling them to American investors. In theory, these royalty financing rights could be sold to European investment funds — yet in practice this remains uncommon.

The first full week of 2026 delivered an unusually dense news cycle. Billion-dollar acquisitions, major licensing partnerships, the year's first biotech IPO, and the FDA's sweeping deregulation of wellness AI at CES 2026 combined to produce one of the more new dense weeks.