In today's episode, we welcome Clarke Futch, Chairman and CEO of HealthCare Royalty Partners, or HCRx. HCRx are pioneers in royalty-based financing, with a thirty year track record in biopharma investing. Clarke has led more than 60 royalty acquisitions totaling nearly $4 billion and raised over $8 billion across various vehicles, executing more than 165 transactions that have fueled breakthroughs in life sciences.

In this interview we examine the evolution of alternative funding models, the transformative impact of alternative funding models on biotech innovation, partnerships, and M&A, and take a macro view on the financial health of the industry amid economic shifts.

02:10 Meet Clarke Futch

07:58 HCRx and its mission

18:55 Differences between a royalty firm and a venture firm

21:34 Alternative funding models in biotech

24:49 Are VCs pulling back? Are alternatives rising?

30:20 How royalty financing impacts partnerships and M&A

33:02 Do alternative financing models risk stifling innovation?

36:33 A macro look at the health of the biotech sector

41:33 What areas of biotech are underfunded right now?

46:22 Looking forward: the 6-12 months ahead?

48:10 Advice for founders navigating financial uncertainty

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To dive deeper into the topic:

Biotech royalty deals on the rise and here to stay