Ep143: Zach Weinberg and Alexis Borisy on Freeing the Biotech Founders
Sep 6, 2023
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Explore the journey of Curie.Bio founders Zach Weinberg and Alexis Borisy in empowering biotech entrepreneurs. Learn about the hands-on support offered to founders, the evolution of Flatiron Health, and the collaborative approach of Curie Bio in prioritizing founder ownership and control in the biotech industry.
Curie.Bio offers unique VC model prioritizing founder ownership.
Weinberg's transition from tech to biotech driven by industry passion.
Curie Bio lowers barriers for biotech startups with supportive model.
Deep dives
Curie Bio's Unique Venture Capital Model
Curie Bio, led by Zach Weinberg and Alexis Boracie, operates as a venture capital fund with a focus on biotech startups. With $520 million for seed investments and series A rounds, Curie also provides in-house R&D expertise to the companies it backs. Offering a distinct approach, Curie prioritizes allowing CEO founders to retain a higher ownership percentage compared to traditional VCs, emphasizing the concept of 'Free the Founders'.
Zach and Alexis' Entrepreneurial Journeys
Zach Weinberg, known for founding Flatiron Health, transitioned from tech to healthcare due to his passion for the industry. Alexis Boracie, with a background in chemistry and biotech, founded several biotech companies like Combinatorx and Forma Therapeutics. Their paths converged through partnerships and investments, leading to the creation of Curie Bio.
Empowering Biotech Entrepreneurs Through Curie Bio
Curie Bio aims to lower the barriers for biotech entrepreneurs to start companies, reflecting a shift towards cost-effective experimentation and technological advancements in the biotech industry. By providing both financial support and hands-on assistance, Curie Bio assists founders in navigating the complexities of starting a therapeutics company, offering a co-pilot approach that emphasizes founder control and long-term ownership.
Unique Investment Model with Sweat Equity
The podcast discusses a unique investment strategy where fund ownership typically ranges from 33% to 40% with an additional 7.5% sweat equity taken from companies. This approach involves providing services without charging cash and focusing on the success of the invested companies. By offering support and expertise without controlling the businesses, the model encourages deep founder involvement and thoughtful decision-making, aiming to avoid costly mistakes and future dilutive funding rounds.
Encouraging Diverse Entrepreneurship in Biotech
The episode emphasizes the opportunity for diverse entrepreneurship in biotech, welcoming founders from various backgrounds to start companies. It highlights the belief in human progress and the increasing knowledge and tools in biology as a driving force for innovation. The discussion underscores the emotional fulfillment and intellectual challenge of creating life-changing therapies, encouraging more individuals to venture into the biotech space at a time of rapid advancement and potential impact.
