The Long Run with Luke Timmerman Ep170: David Schenkein on Investing in the Future of Biotech
Jan 2, 2025
David Schenkein, a general partner at GV and a seasoned hematologist, shares insights from his journey in biotech. He discusses the importance of company culture and how his diverse background shaped his investment philosophy. Schenkein emphasizes embracing failure as a vital part of innovation and reveals the interplay between AI and drug discovery. He reflects on his transition from CEO to venture capitalist, underlining the need for diverse strategies in investing. His vision focuses on patient outcomes and the transformative potential of biotech advancements.
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Career Turning Point
- David Schenkein's introduction to Millennium Pharmaceuticals happened through a casual coffee meeting.
- This led to his career shift into industry, driven by the vision of personalized medicine and the potential of Bortezomib.
Contrasting Company Cultures
- Both Millennium Pharmaceuticals and Genentech prioritized patient-centric decision-making and hiring top talent.
- They differed in decision-making models, with Millennium favoring consensus and Genentech single decision-makers.
Capital Allocation in Lean Times
- During financially challenging times, prioritize capital allocation as a CEO.
- Carefully consider every expense and explore alternative funding sources like strategic partnerships.