The Biotech Startups Podcast

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners.“There is no task around you that's off-limits—just get the information, get the supplies, and give it a shot.”In this episode of The Biotech Startups Podcast, we explore Roy Maute's foundational years—from a curious kid in Dallas, Texas, to an aspiring scientist at UC Berkeley. Roy, CEO and co-founder of Pheast Therapeutics, takes us back to his childhood home where an architect father and artist mother fostered a DIY ethos through weekend home renovations and creative projects that taught him no task was off-limits. He shares how Golden Age science fiction novels from his grandfather and Jurassic Park sparked his fascination with genetic engineering, his transition from a small Dallas magnet school to Berkeley's "sink or swim" environment, and the serendipitous dorm-mate connection that landed him his first lab position mixing salt solutions and caring for mice. Roy reflects on the patient mentorship, California's natural beauty, and early glimpses of Silicon Valley's startup culture that shaped his path before heading to Columbia University for the rigorous training that would define his scientific career.Key topics covered:Childhood Influences: Growing up with creative parents who emphasized DIY projects, from home renovations to laboratory curiosityScience Fiction as Inspiration: How Isaac Asimov novels and Jurassic Park introduced genetic engineering as a world-building toolBerkeley's Sink or Swim Culture: Navigating the transition from a small Dallas magnet school to thousands of undergrads at UC BerkeleyLanding the First Lab Position: The serendipitous dorm connection that led to grunt work in a neurological development lab and foundational scientific trainingFalling for California: Discovering the Bay Area's natural beauty, international culture, food scene, and nascent startup ecosystemIf you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Roy Maute at these links: LinkedIn: https://www.linkedin.com/in/roy-maute-2b31b975/Website: https://www.pheast.com/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:Genetic Engineering and Biotechnology Basics: https://singularityhub.com/2022/07/17/just-because-you-can-doesnt-mean-you-should-what-genetic-engineers-can-learn-from-jurassic-world/Neurological Development Research in Mice: https://pmc.ncbi.nlm.nih.gov/articles/PMC509294/Random Mutagenesis Genetic Screening Techniques: https://www.biorxiv.org/content/10.1101/2022.06.18.495938.fullBerkeley's Academic Culture and Research Opportunities:https://www.berkeley.edu/research/​Companies, Universities, & People mentioned:UC Berkeley: https://www.berkeley.edu/Columbia University: https://www.columbia.edu/Konstantinos Zarbalis: https://www.linkedin.com/in/konstantinos-zarbalis-41b40514/ Timestamps: 00:00 Intro00:03:54 Growing Up in Dallas: Curiosity, Chaos, and Sci-Fi00:06:33 Hands-On Learning: From DIY Renovations to Lab Work00:10:53 Targeting a Science Career at UC Berkeley00:13:13 Landing a First Lab Role Through Serendipity00:17:36 The Importance of Mentorship and "Grunt Work"00:19:53 The Decision to Pursue Graduate School00:21:43 Falling for the Bay Area's Innovation and Nature00:24:23 Choosing Columbia University and Moving to NYC00:27:31 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners."When you allow curiosity to lead the way, it might take longer, it might be circuitous, it might not always be clear, but what will be true is you're enjoying the thing that you're doing along the way."In this episode of The Biotech Startups Podcast, Partner at Bison Ventures, Caleb Appleton shares how Bison Ventures is rethinking biotech investing through “TechBio,” backing revenue-generating platforms that validate product-market fit like software rather than relying solely on therapeutic risk. He lays out a practical framework for data platform founders—when to sell their technology versus build drugs—using examples like Eikon Therapeutics’ in-house super-resolution microscopy and Vivodyne’s ambition to become the “AWS of biology.” Caleb also reflects on how leading a turnaround at TuneIn made him more empathetic to founders and explains why, amid exuberance in physical world AI and tougher biotech markets, teams must identify their superpower and double down on it instead of trying to be everything at once.Key topics covered:Revenue-Generating Biotech: Why companies that create 10x deeper or cheaper data should focus on product-market fit through sales rather than purely therapeutic riskData Platforms Framework: How to decide whether to sell technology as an enabling tool or use it exclusively for drug discoveryMarket Dynamics: Navigating the contrast between robotics/AI exuberance and challenging biotech fundraising conditionsTeam DNA and Superpowers: Why founders must lean into their core strengths—technology building vs. drug development—rather than trying to do bothBison's Investment Approach: Focusing on frontier tech across TechBio, Climate & Sustainability, and AI in the Physical World with $5M average checks from pre-seed through Series BIf you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Caleb Appleton at these links: LinkedIn: https://www.linkedin.com/in/caleb-appleton-86563484/Website: https://www.bison.vc/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:The Case for Revenue-Focused Platforms in Life Sciences: https://news.crunchbase.com/health-wellness-biotech/revenue-focused-platforms-life-sciences-appleton-bison/Deep Tech and Frontier Tech Venture Capital:https://growthequityinterviewguide.com/venture-capital/sector-focused-venture-capital/deep-tech-venture-capitalAWS Business Model: https://vizologi.com/business-strategy-canvas/aws-ec2-business-model-canvas/Scale AI for Data Labeling: https://labelyourdata.com/articles/scale-ai-reviewSpatial Biology Applications: https://www.quanterix.com/why-spatial-biology/​Companies, Universities, & People mentioned:Vivodyne: https://www.kairosventures.com/vivodyne/Eikon Therapeutics: https://www.linkedin.com/company/eikon-therapeutics-incInnovation Endeavors: https://www.innovationendeavors.com/Illumina: https://www.illumina.com/Eric Schmidt: https://www.linkedin.com/in/eric-e-schmidtBen Hemani: https://www.linkedin.com/in/bhemani/ Tom Biegala: https://www.linkedin.com/in/tombiegala/ ​Timestamps: 00:00 Intro02:20 Bison Ventures' Mission and Investment Focus04:57 Current State of TechBio vs. AI Markets08:44 The Case for Revenue-Generating Biotech11:23 Data Platforms: When to Sell Tech vs. Build Drugs14:11 Vivodyne: Becoming the AWS of Biology17:17 Revenue Solves All Known Problems21:35 Building Bison's Culture and Team25:50 Looking Ahead: AI Co-pilots for Technical Users31:46 Advice to 21-Year-Old Self: Follow Your Curiosities35:12 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners."If you're making a good decision, it will usually feel liberating; if you're making a bad decision, it will usually feel constraining."In this episode of The Biotech Startups Podcast, we explore Partner at Bison Ventures, Caleb Appleton's journey from venture capital to operations and back again. Caleb shares his experience joining Innovation Endeavors during its spinout from Eric Schmidt's family office, where minimal structure forced him to rapidly master sourcing, diligence, and thesis-building—including a cold email that landed a multibillion-dollar investment in Eikon Therapeutics. Grappling with whether he could truly operate rather than just advise, Caleb left venture in 2020 to join TuneIn during a pandemic crisis, managing a $50 million turnaround after canceled sports leagues devastated subscriptions. He repositioned the company away from unsustainable NFL deals toward ad-supported radio and premium news content, achieving profitability while learning the immediate feedback loops and difficult pivots that operating demands. These hard-won lessons in execution and empathy for founders ultimately led him back to venture, joining Bison Ventures in 2023 as a more complete investor.Key topics covered:Innovation Endeavors Spinout: Joining during the transition from Eric Schmidt's family office and thriving without structured investment processesOperator vs. Advisor Identity: Wrestling with self-doubt about execution ability and deciding to leave venture for operational experienceTuneIn Pandemic Turnaround: Managing a $50M business crisis when COVID-19 canceled sports leagues that drove subscriptionsStrategic Repositioning: Eliminating unsustainable NFL deals and doubling down on ad-supported radio and premium news content for profitabilityReturn to Venture Capital: Joining Bison Ventures with newfound operator empathy and understanding of execution challengesIf you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Caleb Appleton at these links: LinkedIn: https://www.linkedin.com/in/caleb-appleton-86563484/Website: https://www.bison.vc/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:Innovation Endeavors and the Super Evolution Thesis: https://www.innovationendeavors.com/aboutImpact of COVID-19 on Sports Broadcasting: https://en.wikipedia.org/wiki/Impact_of_the_COVID-19_pandemic_on_American_sports_broadcastingVenture Capital Careers: Work, Salary, and Exit Opportunities: https://mergersandinquisitions.com/venture-capital-careers/​Companies, Universities, & People mentioned:Innovation Endeavors: https://www.innovationendeavors.comBain & Company: https://www.bain.comVicarious Surgical: https://www.vicarioussurgical.comEikon Therapeutics: https://www.eikontherapeutics.com Bison Ventures: https://www.bison.vc Sequoia Capital: https://www.sequoiacap.com Eric Schmidt: https://www.linkedin.com/in/eric-e-schmidtDror Berman: https://www.vcsheet.com/who/dror-bermanTimestamps: 00:00 Intro02:06 Joining Innovation Endeavors and early venture lessons05:29 Navigating a fund spinout and defining the "Super Evolution" thesis07:10 Baptism by fire: scope, imposter syndrome, and advice for getting into venture10:11 First investments: Vicarious Surgical and a cold email into Eikon Therapeutics10:43 Leaving venture to test himself as an operator and applying to Stanford GSB in 202013:01 Walking away at the term sheet stage from his own startup idea15:50 Understanding TuneIn's business model and the impact of canceled sports20:15 Rethinking strategy: from "NFL cocaine" to sustainable, news‑driven subscriptions25:09 Hard pivots, breaking inertia, and identity attachment in entrepreneurship27:23 Returning to venture and joining Bison Ventures29:48 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

"People outweigh challenging environments. A great environment cannot outweigh challenging people."In this episode of The Biotech Startups Podcast, Partner at Bison Ventures, Caleb Appleton returns for Part Two to share how early research experiences in nanotechnology, genome editing, and concussion biomechanics pushed him to question whether engineering could solve problems with poorly defined constraints, ultimately steering him away from academia and toward management consulting. After a transformative summer in Portland sparked his commitment to prioritize lifestyle and location, Caleb landed at Bain by cramming Case in Point in seven days, where he learned to parachute into ambiguous Fortune 500 business problems and rapidly structure high-stakes analyses—skills that now underpin his venture capital work. He reflects on the crucial role of mentors and teammates who reinforced his conviction that people matter more than any opportunity, and recounts the unexpected ten-day whirlwind that pulled him from a clear promotion path in Atlanta to join Eric Schmidt's Innovation Endeavors in San Francisco, embracing serendipity despite tripled rent and an uncertain future.Key topics covered:Rethinking academia: How hands-on experiences in biology, biomechanics, and concussion research led Caleb to question a PhD-focused career path.Constraint-driven problem solving: Why poorly defined scientific problems made him rethink engineering as a route to impact.Discovering consulting and Bain: From last-minute case-interview prep to thriving in a high-caliber, high-expectation environment.The power of people and mentorship: How managers, peers, and long-term relationships shaped his growth and decision-making.Jumping into venture capital: Leaving a secure promotion at Bain to join Innovation Endeavors in San Francisco and embrace career serendipity.If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Caleb Appleton at these links: LinkedIn: https://www.linkedin.com/in/caleb-appleton-86563484/Website: https://www.bison.vc/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:Case in Point by Marc Cosentino: https://www.barnesandnoble.com/w/case-in-point-11-marc-patrick-cosentino/1137400320Venture Deals by Brad Feld and Jason Mendelson: https://www.shortform.com/blog/venture-deals-book/​CRISPR Genome Editing Basics: https://www.synthego.com/learn/crispr/​Nanotechnology and Genome Editing: https://www.diversatechnologies.com/how-nanotechnology-can-overcome-current-limitations-in-gene-editing-with-viral-vectors/​Understanding Venture Capital Funding: https://www.investopedia.com/terms/v/venturecapital.aspCompanies, Universities, & People mentioned:Bain & Company: https://www.bain.comInnovation Endeavors: https://www.innovationendeavors.comGeorgia Tech (Georgia Institute of Technology): https://www.gatech.edu​Eric Schmidt: https://www.linkedin.com/in/eric-e-schmidtBrad Feld: https://www.linkedin.com/in/bfeld​Timestamps: 00:00 Intro02:07 Rethinking the PhD Path Through Undergraduate Research04:19 Early Machine Learning Project on Horse MRIs06:25 Summer in Portland Working on Concussion-Reducing Bike Helmets10:05 Realizing Academic Research Wasn't the Right Long-Term Path11:51 Falling in Love with the Pacific Northwest and Location Flexibility13:39 Learning About Consulting and Landing at Bain17:21 What It's Like Working at Bain as a Junior Consultant20:29 Mentors and Relationships from Consulting23:22 The Unexpected Move to Venture Capital26:30 Making the Big Decision to Move to San Francisco28:59 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners."You have to learn to embrace serendipity. You can't plan everything out because it will never go to plan."​In this episode of The Biotech Startups Podcast, we explore Partner at Bison Ventures, Caleb Appleton's formative years growing up in College Station, Texas, where being surrounded by Texas A&M University shaped his worldview and exalted academia as the ultimate career path. Now a Partner at Bison Ventures, Caleb takes us through his journey to Georgia Tech, where he dove into biomedical engineering and landed an extraordinary undergraduate research opportunity working with CRISPR technology in its earliest days, collaborating with pioneers like Feng Zhang when the field was just emerging.Through hands-on lab work—pipetting, troubleshooting Western blots, and contributing to published research—Caleb began questioning whether a PhD was truly his path forward. The episode explores pivotal lessons about embracing serendipity, how a neighbor's connection unlocked a transformative research experience, and why growing up without exposure to business and industry careers ultimately shaped his unconventional journey into venture capital.Key topics covered:Growing Up in a University Town: How Texas A&M shaped Caleb's worldview and reverence for academic careersChoosing Georgia Tech: Selecting a biomedical engineering program based on rankings and campus cultureEarly CRISPR Research: Working with cutting-edge gene editing technology as an undergraduate from 2011-2015The Reality of Lab Work: From cell culture maintenance to troubleshooting experiments and contributing to publicationsEmbracing Serendipity: How chance connections and willingness to ask for help create transformative opportunitiesIf you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Caleb Appleton at these links: LinkedIn: https://www.linkedin.com/in/caleb-appleton-86563484/Website: https://www.bison.vc/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:Gene Therapy Basics (overview of approaches including ZFNs, TALENs, and CRISPR)https://www.genome.gov/genetics-glossary/Gene-TherapyGenes and Gene Therapy (patient-friendly explainer)https://medlineplus.gov/genesandgenetherapy.html​Gene Therapy: A Biopharmaceutical Basics Overviewhttps://www.thermofisher.com/blog/analyteguru/gene-therapy-a-biopharmaceutical-basics-overview/​Companies, Universities, & People mentioned:Texas A&M University: https://www.tamu.edu/Georgia Tech (Georgia Institute of Technology): https://gatech.edu/MIT (Massachusetts Institute of Technology): https://www.mit.edu/Johns Hopkins University: https://www.jhu.edu/Rice University: https://www.rice.edu/Gang Bao, Ph.D.: https://www.linkedin.com/in/gang-bao-a121146/ Feng Zhang, Ph.D.: https://www.linkedin.com/in/9571b41/ ​Timestamps: 00:00 Intro04:27 Growing Up in College Station, Texas05:19 Impact of Texas A&M and University Town Culture08:09 Education as the Ultimate Career Path12:39 Choosing Georgia Tech Over Johns Hopkins17:07 First Research Experience and Getting into CRISPR Early21:06 Embracing Serendipity in Career and Life23:38 Day-to-Day Lab Experience and Undergraduate Research26:59 Working on CRISPR Delivery Challenges28:02 Leadership Styles and Getting Published as an Undergrad28:55 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners.“I would say find your passion and stick to it. Don’t define your path by preset steps—just keep aligning your choices with that passion, and in the end you’ll have a story you feel good about and proud of.”In this episode of The Biotech Startups Podcast, Dr. Judy Chou shares how she walked away from leading global biotech operations at Bayer to take a risky first‑time CEO role at AltruBio, transforming a struggling predecessor company—alongside a “Genentech mafia” of former colleagues—into a lean, patient‑centric startup built around a novel PSGL‑1 immune checkpoint mechanism aimed at restoring immune balance and breaking the remission ceiling in ulcerative colitis, all while navigating near‑bankruptcy, a 30‑day fundraising sprint that led to a record $225M Series B, launching a translational lab in Taipei, and drawing on formative experiences at Yale and MIT as a young mother and mentee to shape her gritty, values‑driven leadership philosophy.​Key topics covered:Leaving Bayer: Why Judy walked away from a major promotion and historic leadership role to pursue work that felt truly aligned with her values.Founding AltruBio: How former Genentech executives recruited her to evaluate a failing pipeline, identify PSGL‑1, and build a “Genentech mafia” nucleus for the company.PSGL‑1 & immune balance: What makes PSGL‑1 a unique immune checkpoint regulator, how AltruBio’s mechanism differs from anti‑TNF, and why restoring immune homeostasis matters in UC and beyond.From near‑bankruptcy to $225M Series B: The 30‑day fundraising sprint that saved the company, and the strategy, execution, and grit behind closing one of the largest Series B rounds in biotech.Patient‑centric, lean biotech: Designing more convenient second‑generation molecules, building a lean but senior team, and using translational research in Taipei to own the PSGL‑1 space and expand into multiple indications.If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Judy Chou at these links: LinkedIn: https://www.linkedin.com/in/judy-chou-ph-d-biotechWebsite: https://www.altrubio.com/altrubio/en Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:Anti‑TNF Therapy in Autoimmune Disease (overview of mechanism and clinical use of drugs like Humira): https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3002580/Humira (adalimumab) prescribing information and indications in inflammatory bowel disease: https://www.accessdata.fda.gov/drugsatfda_docs/label/2018/125057s410lbl.pdfUlcerative Colitis Treatment and Remission Rates (current standards of care and outcomes): Official journal of the American College of Gastroenterology | ACGExplainer on Contract Development and Manufacturing Organizations (CDMOs): https://www.excedr.com/blog/contract-manufacturing-organizations Contract Research Organizations (CROs): https://www.excedr.com/blog/contract-research-organizations Companies, Universities, & People mentioned:Genentech: https://www.gene.com/Bayer: https://www.bayer.com/Pfizer: https://www.pfizer.com/​Steve Juelsgaard: https://www.linkedin.com/in/stephen-juelsgaard-27451b48/ Sean Bohen: https://www.linkedin.com/in/sean-bohen-md-phd-a625055/ Martha Constantine-Paton: https://www.linkedin.com/in/martha-constantine-paton-032475b7/ Bob Horvitz: https://www.linkedin.com/in/h-robert-horvitz-aa9286127/ Timestamps: 00:00 Intro02:18 Origin of AltruBio and Leaving Bayer05:32 Identifying PSGL-1 as a Novel Target Beyond Humira09:05 AltruBio's Mission: Patient-Centric Drug Development13:48 PSGL-1 as an Immune Checkpoint Regulator19:33 Building a Lean Medivation-Style Organization23:35 Fundraising Philosophy and Record-Breaking Series B27:45 Near Bankruptcy and 30-Day Turnaround32:17 Looking Ahead: UC Data and Pipeline Expansion35:47 Shoutouts40:45 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners.“If you want to make money, really follow your passion rather than follow the money, because the money later on will come.”In this episode of The Biotech Startups Podcast, Dr. Judy Chou shares her journey as employee number one at Tanvex, walking into an empty 50,000 square foot facility and building a biosimilar company from scratch after a close friend’s death from metastatic lung cancer reshaped her understanding of drug access and affordability. She recounts an extraordinary FDA meeting where, as the sole company representative, she fielded questions from 32 regulators and ultimately convinced them to waive all preclinical animal studies, then later took on unexpected responsibility for building three manufacturing suites when multiple VPs were fired. The conversation also follows her move to Medivation, where she scaled technical operations from two people to a global network of over 50 CDMOs and CROs, culminating in a high-stakes bidding war among five pharma giants that ended with Pfizer acquiring Medivation for $14.3 billion, up from a $9 billion market cap just three months earlier.Key topics covered:Biosimilars and Access: Why Judy shifted from pure innovation to biosimilars to expand patient access and why availability is as critical as invention.From Empty Building to Phase 3: How she built a biosimilar company from scratch, advanced two products into Phase 3 in four years, and navigated a pivotal FDA meeting with 32 reviewers.End-to-End Biotech Leadership: Lessons from overseeing R&D, manufacturing build-outs, and global CDMO/CRO networks across Tanvex, Medivation, and Pfizer.Passion Over Paycheck: How prioritizing mission over short-term money at key career junctures ultimately benefited both her impact and financial outcomes.Culture, M&A, and Big Pharma: Experiences integrating Medivation into Pfizer, helping shape Pfizer’s oncology organization, and later stepping into large-scale leadership at Bayer.​If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Judy Chou at these links: LinkedIn: https://www.linkedin.com/in/judy-chou-ph-d-biotechWebsite: https://www.altrubio.com/altrubio/en Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:​FDA Biosimilars 101: https://www.fda.gov/drugs/therapeutic-biologics-applications-bla/biosimilars FDA Guidance on Biosimilar Development & Approval: https://www.fda.gov/vaccines-blood-biologics/general-biologics-guidances/biosimilars-guidances Basics of Phase 3 Clinical Trials: https://www.cancer.gov/about-cancer/treatment/clinical-trials/what-are-trials/phasesExplainer on Contract Development and Manufacturing Organizations (CDMOs): https://www.excedr.com/blog/contract-manufacturing-organizations Contract Research Organizations (CROs): https://www.excedr.com/blog/contract-research-organizations ​Companies, Universities, & People mentioned:Genentech: https://www.gene.comTanvex BioPharma: https://www.tanvex.comMedivation: https://en.wikipedia.org/wiki/Medivation ​Pfizer: https://www.pfizer.com​Bayer: https://www.bayer.comGilead: https://www.gilead.com​David Hung: https://www.linkedin.com/in/davidhungmd/ Timestamps: 00:00 Intro02:24 Becoming Employee Number One at Tanvex04:57 Walking Into an Empty 50,000 Square Foot Facility Alone06:29 Friend's Death from Lung Cancer: Why Biosimilars Matter09:41 FDA Meeting: 32 Agents, One Scientist, Zero Animal Studies Required17:05 Learning Every Part of Drug Discovery and Regulatory Process20:19 Decision to Leave Tanvex Despite IPO Windfall22:59 Following Passion Over Money: A Golden Timing Lesson24:53 Joining Medivation and Building Tech Ops from Scratch31:35 Five Bidders Competing: The $14.3 Billion Pfizer Acquisition38:59 Bridging East Coast and West Coast Biotech Cultures at Pfizer39:37 Joining Bayer: Leading 2,000 Employees Across Six SitesThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

In this installment, Judy Chou, a biotech executive and former leader at Wyeth and Genentech, shares insights from her transformative journey from academia to industry. She discusses pioneering high-throughput screening for biologics and achieving unprecedented antibody production levels. Judy reveals her strategies for creating cross-functional teams and overcoming resistance to innovation within large organizations. Her experiences underscore the importance of meaningful work and leadership in the biotech landscape.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners."Multidisciplinary is key. It's where the innovation really comes from."In this episode of The Biotech Startups Podcast by Excedr, AltruBio President and CEO Judy Chou traces her journey from an arts-driven childhood in politically tense, conservative Taiwan to leading a clinical-stage biotech company in the U.S., sharing how an “inner rebel,” a love of physics, and two pivotal uncles redirected her from an elite engineering track into medicine and biology at National Taiwan University, where she hustled her way into research labs each summer. A heartbreaking encounter with a young boy whose mother was dying of leukemia convinced her that treating one patient at a time was not enough, propelling her to Yale for a PhD, where she earned five Honors in a single semester, dove into cutting-edge neuroscience and synaptic vesicle biology, and survived a “Home Alone” phase after her advisor left—pushing a cart of reagents between world-class labs and forging the resilience, independence, and multidisciplinary mindset that now underpin her leadership and her pursuit of first-in-class therapies for immune and inflammatory diseases.Key topics covered:Inner Rebel & Upbringing: Growing up in conservative, politically tense Taiwan and developing an inner drive to follow expectations while quietly breaking traditions.Choosing Science Over the Arts: Moving from prodigy-level talent in painting, music, and writing to physics, and ultimately into medicine and biology after pivotal family conversations.The Longest Walk: How witnessing a young leukemia patient losing his mother in the ER catalyzed Judy’s decision to leave clinical practice and focus on finding real solutions in the lab.Yale & Neuroscience: Earning five Honors in one semester, entering a nascent neuroscience program, and working at the frontier of synaptic vesicle biology amid future Nobel-winning discoveries.Radical Independence in Training: Surviving after her PI left Yale, becoming a “homeless scientist” moving between elite labs, and how that forged the independence and multidisciplinary mindset she carries into biotech leadership today.If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.Subscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Judy Chou at these links: LinkedIn: https://www.linkedin.com/in/judy-chou-ph-d-biotechWebsite: https://www.altrubio.com/altrubio/en Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:SNARE Complex and Synaptic Vesicle Biology: https://www.nobelprize.org/prizes/medicine/2013/summary/James Rothman's Nobel Prize Research on Vesicle Trafficking: https://www.nature.com/articles/nrm3323Rab Proteins and Intracellular Trafficking: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3146697/Neuroscience Graduate Programs and Multidisciplinary Training: https://medicine.yale.edu/neuroscience/CPG Column Technology for Protein Purification: CPG (Controlled Pore Glass) Synthesis Column, 0.2 μmol, 500 Angstrom Pore Size, T EachMax Planck Institute for Biophysical Chemistry: https://www.mpinat.mpg.de/enBone Marrow Transplantation in Acute Leukemia: Stem Cell Transplant for Acute Myeloid Leukemia (AML) | American Cancer Society​Howard Hughes Medical Institute Graduate Programs: Becoming an HHMI Scientist | HHMI Science ProgramsHigh-Throughput Screening in Biologics Development: https://www.nature.com/articles/nrd1470​Companies, Universities, & People mentioned:Yale University: https://www.yale.edu/​Max Planck Institute: https://www.mpg.de/enHarvard Medical School: https://hms.harvard.edu/National Taiwan University: https://www.ntu.edu.tw/english/Reinhard Jahn https://www.mpinat.mpg.de/jahnPietro De Camilli https://medicine.yale.edu/profile/pietro-decamilli/Spyros Artavanis-Tsakonas https://www.gairdner.org/winner/spyros-artavanis-tsakonasIra Mellman https://acgtfoundation.org/people/ira-mellman-phd/Manfred Eigen https://en.wikipedia.org/wiki/Manfred_EigenErwin Neher https://mediatheque.lindau-nobel.org/laureates/neherTimestamps: 00:00 Intro04:45 Growing Up in Taiwan: Living with Threats and Breaking Tradition07:45 The Inner Rebel and Conservative Expectations11:02 Artist Family Background: Parents in Literature and Library Sciences12:19 From Arts Prodigy to Politics to Science13:36 Falling in Love with Physics in Middle School16:48 Two Uncles Change Everything: The Medical School Decision25:21 Medical School Experience and Lab Work29:59 Professor Chen and the Shadow of Limited Solutions33:06 The Longest Walk: Emergency Room to Lab38:03 Choosing Yale for PhD and Genuine Curiosity41:45 Five Honors in One Semester at Yale49:59 The "Home Alone" PhD: When the Lab Moved Away55:40 Max Planck Postdoc: CPG Columns and Concert HallsThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners."Sometimes no response is the loudest response of all."In this episode of The Biotech Startups Podcast, Amy Hay, Chief Business Officer at CTMC, shares how CTMC bridges academia and industry to help lean cell therapy teams reach the clinic faster and more capital-efficiently through a co-development model that bundles manufacturing, regulatory, and operational support so scientists can stay focused on the science while building scalable, commercialization-ready processes from day one. Amy and host Jon Chee dig into why business model innovation—milestone-based contracts and, in some cases, equity alignment—can be as critical as scientific breakthroughs in today’s tough fundraising landscape, and how regional manufacturing, knowledge transfer, and global network alliances are turning cell therapy from a theoretical option into a practical reality for patients around the world.Key topics covered:CTMC’s mission: Bridging academia and industry to accelerate early cell therapy programs into the clinic.Co-developing with early biotechs: End-to-end support (manufacturing, regulatory, logistics) to reduce time and capital burden.Scaling early to avoid late pain: Building sustainable, commercializable processes and de-risking Phase 1 through commercial.Business model innovation: Milestone-based contracts and equity alignment to create incentives and improve fundraising narratives.Democratizing cell therapy globally: Regional manufacturing, network alliances, and why “the patient is part of the supply chain.”If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listeningSubscribe to the Podcast:Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4Youtube: https://www.youtube.com/@thebiotechstartupspodcast Website: https://www.thebiotechstartupspodcast.com/ Find our guest, Amy Hay at these links: LinkedIn: https://www.linkedin.com/in/amychay/Website: https://ctmc.com/ Find our host, Jon Chee, at these links: LinkedIn: https://www.linkedin.com/in/joncheeLearn more about Excedr:LinkedIn: https://www.linkedin.com/company/excedr/ Website: https://www.excedr.comIntro & Outro Songs Created by OkKyojin, Owned by Excedr:Website: https://flow.page/kyojin Resources & Articles:TIL (Tumor-Infiltrating Lymphocyte) Therapy: https://my.clevelandclinic.org/health/treatments/tumor-infiltrating-lymphocyte-til-therapyIND (Investigational New Drug) Application Process: https://www.fda.gov/drugs/types-applications/investigational-new-drug-ind-applicationGlobal Access to Cell and Gene Therapies: https://www.cell.com/molecular-therapy-family/molecular-therapy/fulltext/S1525-0016(25)00270-9Melanoma Treatment & TIL Therapy Outcomes: https://www.nejm.org/doi/full/10.1056/NEJMoa2210233​Companies, Universities, & People mentioned:MD Anderson Cancer Center: https://www.mdanderson.org/National Resilience (Resilience Labs): https://www.resilience.com/Varian Medical Systems: https://www.varian.com/Siemens Healthineers: https://www.siemens-healthineers.com/products-servicesHenrique Neves, General Director, Hospital Israelita Albert Einstein: https://www.linkedin.com/in/henrique-sneves/Timestamps: 00:00 Intro01:57 CTMC's Mission and North Star07:51 State of the Cell Therapy Market10:54 Business Model Innovation and Deal Structuring12:25 What an Engagement with CTMC Looks Like15:35 Archetypical Partners and Customers19:46 Building End-to-End Capabilities and Future Developments25:57 Democratizing Cell Therapy Globally28:35 Shout-Outs to Key Supporters and Mentors32:02 Advice to 21-Year-Old Self: Patience and Grace33:41 OutroThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.