Royalty Financing: A Lifeline or a Golden Cage?
Amongst biotech funding options, royalty financing sits as the misunderstood sibling: alluring but mysterious, promising much yet carrying hidden risks.
The problem with NPV
Biotechnology operates at the confluence of intricate scientific inquiry and uncertain financial markets. Drug discovery, clinical trials, and regulatory approvals
The problem with VaR
Value at Risk (VaR) is a financial metric designed to quantify the maximum expected loss of an investment portfolio over
Why European Startups Struggle to Woo Investors
Raising capital for a biotech startup in Europe is a bit like trying to sell an avant-garde art piece to
The Halo Effect: Why We Keep Falling for Corporate Frauds (and Ignoring the Skeptics)
There is a certain rhythm to corporate fraud. A charismatic figure appears, claiming to be disrupting an industry, armed with
A Quick Guide to Understanding the Problems with Financial Metrics in Biotech and Pharma
If you’re short on time and need to grasp the core issues with traditional financial metrics in biotech and
The “Visionary” Delusion: Self-Appointed Prophets of the Obvious
In Greek mythology, King Midas wished that everything he touched would turn to gold. In corporate life, many have developed
The Venture Capital Carousel: A Founder’s Tale of Money, Strings, and Shrinking Control
If venture capital were a relationship, it would be the kind of marriage arranged by a matchmaker who only gets
The problem with IRR
The Internal Rate of Return (IRR) is beloved by private equity (PE) and venture capital (VC) firms, often regarded as
The Trouble with TVPI, DPI, and RVPI
Imagine this you’re an investor sitting in a polished conference room. The General Partner (GP) of a biotech-focused private
