If venture capital were a relationship, it would be the kind of marriage arranged by a matchmaker who only gets paid when the couple divorces. It starts with stars in your eyes and promises of shared ambitions. Investors adore your vision; you adore their deep pockets. But as the years

The Internal Rate of Return (IRR) is beloved by private equity (PE) and venture capital (VC) firms, often regarded as the ultimate measure of an investment’s attractiveness. Its simplicity and comparability make it a favored metric to evaluate projects across industries. However, in the world of biotech—dominated by

Imagine this you’re an investor sitting in a polished conference room. The General Partner (GP) of a biotech-focused private equity fund is waxing poetic about their fund’s stellar TVPI. “We’ve achieved 2.5x!” they declare, their voice brimming with pride. A slide appears on the screen,

Clinical trials serve as the cornerstone of evidence-based medicine, providing critical data to evaluate the safety and efficacy of therapeutic interventions. However, the integrity of clinical trial data is occasionally compromised by statistical anomalies, whether due to unintentional errors, systemic bias, or deliberate manipulation. A thorough understanding of these

Venture capital, in theory, is about finding the best startups, wherever they may be. In practice? Many European VCs barely invest outside their own postal code. While American startups are routinely advised to incorporate in Delaware or Florida to attract capital, European founders often find themselves stuck in a bizarre

There are few things as vague yet self-important as the phrase “award-winning”. It’s a flex, a flourish, a signal to the world that whatever is being described—a person, a company, a software product—has been officially recognized as excellent by some authority. And yet, much like

Few phrases carry as much self-importance and ambiguity as “boutique consultancy”. It appears on websites, LinkedIn bios, and PowerPoint decks with the confidence of a billion-dollar firm, yet often refers to three ex-McKinsey employees working out of a WeWork. The word "boutique" suggests exclusivity, expertise,

Let’s talk about a topic that doesn’t get enough attention but is painfully familiar to anyone in the world of business, startups, or innovation: the conference conundrum. You know the drill—conferences that charge startups hefty prices to attend, panels filled with “big names” that offer little substance,

Likelihood of Approval (LOA) is a widely referenced metric in drug development, particularly in the later stages of the pipeline. It measures the probability that a drug candidate will successfully navigate the final stages of clinical trials—most notably Phase III—and achieve regulatory approval. While related to Probability of

Probability of Technical and Regulatory Success (PTRS) is a widely used metric in biotech and pharma, employed to estimate the likelihood that a drug will successfully advance through clinical trials and regulatory approval. By quantifying the probability of success, PTRS aims to provide investors, companies, and stakeholders with a risk-