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At the end of the day, biotech venture capital is a business and driving returns is the ultimate metric.
For twenty years, to deliver on that, I’ve embraced what I call the “first principle” of early stage biotech investing: if we can positively impact the lives of patients by discovering and developing an innovative new medicine, the system will reward that risk-taking with superlative investment returns.” I stand by this today, even with the turmoil and uncertainty raised from the policy chaos on drug pricing.
Beyond great science and wonderful people, the third big ingredient required to deliver on this first principle is…