Where Biotech Money Goes When Venture Capital Stops

About this episode

The A, B, C round path that funded biotech for thirty years is not currently available. Sara Jane Demy has just come out of her own Biotech CEO Summit, where that was the main topic. Jeremy Levin, who ran Teva Pharmaceutical Industries and sat on the executive committee at Bristol-Myers Squibb, has a specific answer about where the money went instead. Host Lori Ellis asks them where biotech capital actually is now, why chief executives have changed their minds about Chinese clinical data, and what each of them regards as the hardest decision of their career. Levin's answer to that last question involves a resignation written on a napkin. (00:00) There's no other industry like this(00:30) Introduction(01:17) The troops without supplies(04:04) What the war does to the industry(05:59) Hormuz: plastics, fertilizer and food security(09:45) Is China gaining from the war?(10:25) Why CEOs now trust Chinese clinical data(12:58) The question isn't if China leads, it's when(14:52) What disruption did to the US innovation engine(17:13) Innovation won't stop, it will migrate(19:57) What gets repaired and what doesn't(23:05) The A-B-C round model isn't there anymore(26:49) Back to basics: be fearless(28:50) Advice for people still inside government(33:52) Is the foundation still standing?(35:33) The hardest decision of your career(39:47) The resignation written on a napkin Sara Jane Demy is Founder and CEO of Demy-Colton, which runs Biotech Showcase, BioFuture and the Biotech CEO Summit. Jeremy Levin is co-founder and Executive Chairman of Ovid Therapeutics, the former President and CEO of Teva Pharmaceutical Industries, and a former chairman of the Biotechnology Innovation Organization. Episode page: https://opendoorsalon.com/where-biotech-money-goes-venture-capital/Newsletter: https://opendoorsalon.substack.com/