Biotech Hangout

On this week’s episode, Chris Garabedian, Yaron Werber and Sam Fazeli discuss the challenges facing the biotech sector, including high interest rates and the overabundance of public biotech companies. The hosts take a look at recent IPOs, noting that Metsra and Sionna have performed well, while others like Septerna and Upstream struggled. Reasons for the market’s reaction to IPOs was also discussed, including concerns about valuation, competition and future funding needs. The hosts also discuss the potential acquisition of SpringWorks by Merck. BioCentury’s Steve Usdin also joins the show to discuss the policy and regulatory environment. He outlines the opportunities and risks for the biotech sector, including potential reforms to onshore manufacturing, IRA Medicare drug negotiation, PBM reforms, FDA and NIH staffing cuts, and much more. This episode aired on February 14, 2025.

On this week’s episode, Daphne Zohar, Paul Matteis, Brian Skorney, Tim Opler and Abe Ceesay kick off with a more optimistic yet cautious perspective that investor sentiment may be improving. The group notes positive market trends post-JPM with the XBI index rising from 86.5 to around 92 since early January. The discussion also touches on on the re-emergence of wall cross pipes and the impact on generalist investor interest. The hosts discuss the positive M&A outlook for 2025, noting Intra-Cellular’s recent acquisition by J&J. Staying on the neuro theme, GH Research announced impressive data from its Phase 2b trial for a short-acting psychedelic drug for treatment-resistant depression. This extended into a discussion on the broader implications of neuropsych drug development, including the need for experienced management and the challenges of patient selection and managing high placebo responses. Other topics discussed include FDA’s approval of Axsome’s migraine drug, the anti-VEGF therapy competitive dynamics, Trump’s tariffs, and more. This episode aired on February 7, 2025.

On this week’s episode, Brad Loncar, Chris Garabedian, Eric Schmidt, Paul Matteis and Sam Fazeli kick off with an open mic session on the potential impact of the RFK Jr. hearings and the Trump administration's policies on the biotech industry. The conversation turns to a “unicorn day” with IPOs for Metsara, Maze, Odyssey and Sionna Therapeutics. The group also discusses the approval of Vertex’s journavx and the potential for it to be a blockbuster drug. Akero, Sarepta and Cargo also announced data this week and the hosts summarized the market reactions. Other topics covered include Merck’s buyback announcement and potential impact on M&A activity, Takeda’s CEO, Christophe Weber, steps down, Curie Bio’s new fund, and more. This episode aired on January 31, 2025.

On this week’s episode, Chris Garabedian, Tim Opler, Sam Fazeli, Brian Skorney and Luba Greenwood begin with breaking news on the obesity front with Novo Nordisk’s next-gen program, amycretin. The conversation transitions to post-JPM public market sentiment and a reluctance in capital markets. On the flip side, the hosts suggest a positive outlook for venture capital investments despite the public market challenges. The group also highlights the active M&A and licensing deal market, including the significant role of Chinese biotechs in licensing deals. The hosts also discusses the impact of Trump’s administration’s actions on the biotech sector, including the freeze on NIH activities and the potential withdrawal from the WHO. Other topics include potential of AI in healthcare, Biogen’s strategic shifts, Nature Medicine paper on GLP-1 drugs effects, and more. This episode aired on January 24, 2025.

On this week’s episode, Daphne Zohar, John Maraganore, Mike Yee and Sam Fazeli begin the show recapping JPM ’25, noting investor sentiment was muted and concerns on interest rates have contributed to mixed market sentiment. In terms of deals,  three M&A transactions were announced this week including J&J’s plans to buy Intra-Cellular Therapies for $14B, Gilead’s $250M preclinical asset acquisition and GSK’s $1.2B deal with IDRx. Commenting on a challenging IPO market, the group discusses that more private companies are being acquired due to market difficulties and the overvaluation of public companies. The hosts are joined by BIO CEO John Crowley to discuss China’s role in biotech and policy initiatives, FDA reforms and the impact on the biotech industry, and more.  This episode aired on January 17, 2025.

On this week’s episode, hosts Chris Garabedian, Brad Loncar,Sam Fazeli and Yaron Werber cover a busy news week ahead of the J.P. Morgan Healthcare Conference as well as a preview of what to expect next week at the event. Thegroup highlights some of the mega private deals announced, including three that involved the licensing of China assets. The hosts zoom out with a recap of end-of-year reports, the current state of the market and XBI outlook. On the data front, Jasper reports positive Phase 1/2 data for chronic urticaria, Vir shares data for masked T-cell engagers and Stoke moves into Phase 3 with their antisense oligonucleotide for Dravet syndrome. The group also discusses Novo’s deal with Valo Health, Galapagos’ interesting move with new spin out company, whether we’ve reached ‘peak obesity’ and much more. This episode aired on January 10, 2025.

On this week’s episode, Brad Loncar, Daphne Zohar, Josh Schimmer, Yaron Werber and Michael Preminger kick off the show with Vertex’s much anticipated Phase 2 study results, highlighting the modest treatment effect and high placebo response. The group also comments on overly positive spin on data and the importance of credibility in interpreting data. The conversation turns to Novo Nordisk’s weight loss data and the market’s negative reaction with stock down 20%. The group also discusses Roche’s termination of its hemophilia gene therapy program, and Teva's TL1A data showing promise in inflammatory bowel disease. Turning to market sentiment, the group comments on Wall Street’s high expectations for new data and the resulting volatility in the market. The hosts also touch on the impact of Chinese biotech investments, potential PBM reforms, Regeneron’s high-dose ILEA trials, upcoming auction of Mitsubishi pharma unit, and more. This episode aired on December 20, 2024.

On this week’s episode, Josh Schimmer,  Yaron Werber, Brian Skorney, Tess Cameron, and Eric Schmidt kick off the show covering the macro news of the week including the new FTC head and what it means for M&A in the industry. The group also discusses how the biopharma industry is not challenging RFK Jr., the BioSecure Act missing from the Defense Bill and Luigi Mangione’s arrest. In ASH Conference highlights, the hosts recap the CAR-T battle of Arcellx/Gilead vs Ligand/J&J, as well as updates from Agios and other SCD cell therapies. Other topics discussed include Blenrep’s return, BTK degraders from Beigene and Nurix, the Revance/Crown deal as well the big stock movers off the week. This episode aired on December 13, 2024.

On this episode of Biotech Hangout, Eric Schmidt, Bruce Booth, Yaron Werber, Tim Opler and Mike Yee begin the show discussing the highlights from the Jefferies Healthcare Conference before taking a look at public investor sentiment this week. The discussion turns to Atlas Venture’s 2024 Year in Review and transitions into the emerging themes for 2025. The hosts also recap ACR Convergence including Amgen’s Phase 3 data as well as data from cell therapies for SLE, SSC, IMNM. The group also discuss lipid readouts from Eli Lilly, Silence Therapeutics and NewAmsterdam Pharma. Other topics covered include the Incyte and Escient deal collapse, Kura Oncology’s pact with Kyowa Kirin, and perspectives on Trump’s nomination of Dr. Mehmet Oz to lead the CMS. This episode aired on November 22, 2024.

On this episode, Brad Loncar, Sam Fazeli, Tess Cameron, Nina Kjellson and Michal Preminger kick off the show sharing perspectives on Trump’s selection of Robert F. Kennedy Jr as secretary of the U.S. Department of Health and Human Services. The hosts shift to Abbvie’s disappointing Phase 2 trials and a broader discussion on why M&A can be tough. The group also discussed the recent flood of licensing and new companies based on China assets, including some of the players and approaches. The hosts also discuss Halozyme's takeover proposal of Evotec, the VEGF/PD-1 frenzy, J&J hits back with 340b lawsuit, the GOP tax bill and impact on biopharma priorities, and more. This episode aired on November 15, 2024.