A CEO’s Perspective on Navigating Choppy Market Waters

By Jonathan Montagu, CEO of HotSpot Therapeutics, as part of the From The Trenches feature of LifeSciVC

I’m far from the first person to point out the prolonged market challenges that have depressed the biotech fundraising environment over the past few years. While we’ve recently seemed glimmers of optimism in the form of positive data read-outs, sizeable M&A transactions, and increased clarity on topics like drug pricing and tariffs, we remain far removed from the (all too unsustainable) boom of five years ago.

A limited access to capital places undeniable strain on nearly every stakeholder in the sector. From a corporate perspective…