Links for Q1 2025 - Alexey Guzey

“Meet the WAG who won Lionel Messi's heart when they were both just five: Antonela Roccuzzo is the brains behind their billion-dollar brand who will cheer on Argentina's talisman from the stands as he bids for eternal World Cup glory” (Daily Mail). Blake Byers on X: GLP1s have added $1T in market cap to Eli and Novo over the last 5 years. That's 3x+ the market cap created by all biopharma startups over the last 30 years combined. This is a bit of an indicment of the biotech startup ecosystem. There are many $1T and even $10T drugs to be invented, we just don't fund them. Through no one persons fault, the biotech industry is stuck in a local performance maxima. Faced with lower multiples than tech, biotech funds have to pitch something other than straight multiple to LPs and the only other level is faster liquidity. Biotech has been good at this, with the average age of biotech companies at IPO being 2 years younger than tech companies at IPO (~5.5 years vs 7.5 years). This means biotec

“Meet the WAG who won Lionel Messi's heart when they were both just five: Antonela Roccuzzo is the brains behind their billion-dollar brand who will cheer on Argentina's talisman from the stands as he bids for eternal World Cup glory” (Daily Mail). Blake Byers on X: GLP1s have added $1T in market cap to Eli and Novo over the last 5 years. That's 3x+ the market cap created by all biopharma startups over the last 30 years combined. This is a bit of an indicment of the biotech startup ecosystem. There are many $1T and even $10T drugs to be invented, we just don't fund them. Through no one persons