China’s Biotech Startups: Between Hype and Hard Truths
Conflicting Narratives in a Growing Sector
China’s early-stage biotech and drug development startups have been riding a seesaw of
Biotech IPOs: A Tale of Two Continents
Biotech IPOs: A Tale of Two Continents
Not long ago, biotech firms queued eagerly for public markets, buoyed by cheap
Don’t Bet on PME: A Tale of Public Market Equivalents and Their Limitations
You’re sitting across from a General Partner (GP) at a biotech-focused venture capital (VC) fund. They’re presenting their
Biotech Venture Capital’s Hard Reset
The global biotech venture capital boom of the late 2010s has decisively given way to a sobering downturn. After a
Real-World Evidence (RWE): A Detailed Examination of Its Role in Modern Healthcare
Real-World Evidence (RWE) has become one of the most discussed innovations in healthcare decision-making, promising to bridge the gap between
EuroQol EQ-5D: The Swiss Army Knife of Health Metrics (or a Rusty Spoon?)
The EuroQol EQ-5D is a bit like the IKEA flatpack of health economics—ubiquitous, relatively simple to use, but occasionally
The Deal That Wasn’t: Inside Biotech’s Ghost Round Epidemic
In the spring of 2025, biotech startups find themselves navigating an increasingly treacherous fundraising landscape. While headlines boast of massive
The Long and Short of Family Office Investing
Family offices are often portrayed as paragons of “patient capital,” stewards of dynastic wealth with investment horizons stretching across generations.
Royalty Strategies in Biotech: Evolution, Key Players, and the Capital for Cures Approach
Biotech companies often face a critical funding gap: bringing a new therapy from lab to market is exceedingly expensive, yet
The Middlemen’s Middlemen: How Fund-of-Funds Make Money by Investing in People Who Invest in Other People
Venture capital, like most human activities involving large sums of money and delayed gratification, has developed a hierarchy. At the