Flot.bio x Philip Hemme

Regina Hodits, who I have known for many years, spent 15 years at Wellington Partners before joining Angelini Ventures in 2025. The corporate venture fund now manages close to €500M, and its first exit, Noctrix Health, sold to ResMed for $340M in June.We talked about Forbion, Jeito and Sofinnova’s mega-funds, why Europe still needs more institutional money for biotech, and why “spray and pray” doesn’t work at the Series A and B levels of investing.We also covered the “red hot” rare-disease segment, and why her biotech hero is Nobel laureate Sir Gregory Winter.---This episode is brought to you by Avance Life Sciences, where European biotech turns for trusted financial advice. Learn more at https://bit.ly/flot-avance---⭐️ ABOUT THE SPEAKERSince starting her Managing Director role at Angelini Ventures in 2025, Regina has served on the boards of companies including Adcytherix and Nuclidium. She was previously Managing Partner at Wellington Partners, where she managed 25+ investments, including Themis and Rigontec, both acquired by MSD.She was also a founding investor in Bicycle Therapeutics and F-star, and earlier worked at Atlas Venture, Apax and McKinsey. 🔗 LINKS MENTIONEDRegina Hodits LinkedIn profile — https://www.linkedin.com/in/regina-hodits-270a7481/Angelini Ventures — angeliniventures.comEIB and Angelini Ventures, €150M agreement — eib.orgAngelini Ventures invests in Epicrispr's $90M Series C — angeliniventures.comResMed acquires Noctrix Health, $340M — fiercebiotech.comRougeTx launches with $58M Series A — rougetx.comForbion raises €2.3B across two funds — forbion.comJeito II, record €1B fundraise — jeito.lifeAngelini Pharma to acquire Catalyst Pharmaceuticals — angelinipharma.comChristoph Lengauer, Curie.Bio, Flot.Bio E57 — flot.bioOtello Stampacchia, Omega Funds, Flot.Bio E18 — flot.bioGilead completes acquisition of Tubulis — gilead.comAdcytherix raises €105M Series A — adcytherix.comPascal Touchon, Jeito, Flot.Bio E49 — flot.bioEuropean Life Sciences Coalition launch — forbion.comSander Slootweg, Forbion, Flot.Bio E56 — flot.bioDominik Schumacher, Tubulis, Flot.Bio E19 — flot.bioSir Gregory Winter, Nobel biography — nobelprize.org📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/regina-hodits-angelini-ventures-biotech/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.Bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:33] From Wellington Partners to Angelini Ventures[00:03:29] Freedom In A €300M Evergreen Fund[00:06:31] CNS, Rare Disease and Oncology: Key Strengths[00:09:57] Family-Owned Angelini Pharma: Serving Two Masters[00:15:41] Fund Returns: It’s Not Just Spray And Pray[00:18:36] Platforms vs Assets: Bicycle, Tubulis and Adcytherix[00:21:51] Forbion and Jeito’s Mega-Funds: Democratizing Europe's Biotech Capital[00:25:15] Regina Hodits Offers Lessons for Venture Investors[00:28:06] Quick-Fire Questions

Christophe has run MedinCell since 2009, when it was eight people in a converted garage. Today it's one of only three French biotechs to ever cross $1B on Euronext.With one Teva-partnered product already a commercial success, the partners are potentially weeks away from getting FDA approval for a second.We also talked about France’s biotech giants, the landscape of long-acting injectables, and why Christophe was once in charge of a remote fishing lodge in Canada.---Discover the best biotech companies in 🇪🇺 with the FlotBio Map at https://bit.ly/4nXmKjN---⭐️ ABOUT THE SPEAKERBefore his time as CEO of MedinCell, Christophe was lead investor in Nanobiotix and served in roles at the Boston Consulting Group, and Matignon Investissement & Gestion.He also spent 15 years in North America, and he holds an engineering degree from École des Mines de Paris, a Master’s degree from the University of Minnesota, and an MBA from the University of Calgary.🔗 LINKS MENTIONEDChristophe Douat LinkedIn profile — https://www.linkedin.com/in/christophe-douat-16268a/MedinCell — medincell.comTeva — tevapharm.comUzedy FDA approval, April 2023 — https://www.tevausa.com/news-and-media/press-releases/teva-and-medincell-announce-fda-approval-of-uzedy-risperidone-extended-release-injectable-suspension-/MedinCell investor presentation, Sept 2026 — https://www.medincell.com/wp-content/uploads/2026/09/Investors-Sept2026.pdfPascal Touchon, Flot.bio E49 — https://flot.bio/episode/pascal-touchon-jeito/Fredrik Tiberg, Flot.Bio E51 (Camurus) — https://flot.bio/episode/fredrik-tiberg-camurus-opioid-crisis/Laurent Levy, Flot.Bio E45 (Nanobiotix) — https://flot.bio/episode/laurent-levy-nanobiotix-nanoparticles-radiotherapy/Marc de Garidel, Flot.Bio E46 (Abivax) — https://flot.bio/episode/marc-de-garidel-abivax-ulcerative-colitis-inflammation/Michel Vert, University of Montpellier — https://ibmm.umontpellier.fr/en/annuaire/vert-michel-2/Teva completes Actavis Generics acquisition, 2016 — https://ir.tevapharm.com/news-and-events/press-releases/press-release-details/2016/Teva-Completes-Acquisition-of-Actavis-Generics/default.aspxJ&J acquires Intra-Cellular Therapies, $14.6B — https://www.jnj.com/media-center/press-releases/johnson-johnson-strengthens-neuroscience-leadership-with-acquisition-of-intra-cellular-therapies-inc📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/medincell-french-biotech-giants/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.Bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:03:05] Jeito’s Pascal Touchon: a Mutual Friend[00:05:35] Uzedy and Long-Acting Injectable Olanzapine: the Commercial Drive[00:07:42] How MedinCell Could Succeed with Olanzapine LAI Where Eli Lilly Failed[00:16:57] Camurus and MedinCell: European Champions in Long-Acting Injectables[00:20:51] Montpellier and the Foundation of MedinCell[00:25:19] Teva Pharmaceuticals: an Agile Partner[00:30:08] Nanobiotix and France’s $1B Market Cap Club[00:36:39] Contraception, Malaria and Schizophrenia: the Human Factor[00:46:05] From a Fishing Lodge in Ontario to Biotech CEO[00:51:10] Quick-Fire Questions

Christian Angermayer became a multimillionaire before turning 25 thanks to the merger of Alnylam with Ribopharma. We talk about his diverse investment appetite and the rise of consumer biotech and human enhancement.We talk about GLP-1s, the progress of AtaiBeckley, and why he thinks ‘going home and sleeping’ beats an all-nighter every time.---Discover the best biotech companies in 🇪🇺 with the FlotBio Map at https://bit.ly/4nXmKjN---⭐️ ABOUT THE SPEAKERChristian is the founder of Apeiron Investment Group, which manages around $7 billion across psychedelics, longevity, consumer biotech, crypto and media. He also co-founded big companies including AtaiBeckley and the Enhanced Games.Christian studied business in Germany at the University of Bayreuth but dropped out to co-found Ribopharma, which merged with Alnylam Pharmaceuticals in 2003.🔗 LINKS MENTIONEDChristian Angermayer LinkedIn profile — https://www.linkedin.com/in/christian-angermayer/Enhanced Games — https://www.enhanced.com/Enhanced Games inaugural event press release — https://investors.enhanced.com/inaugural-enhanced-games-deliver-a-world-record-and-21-personal-bests-showcasing-that-living-enhanced-works/David Nutt LinkedIn profile — https://www.linkedin.com/in/professor-david-nutt-82498025/AtaiBeckley pipeline — https://www.ataibeckley.com/our-work/pipelineBBC weight loss drugs comparison — https://www.bbc.com/news/articles/c981044pgvyoDavid Nutt drug-harm chart — https://commons.wikimedia.org/wiki/File:HarmCausedByDrugsTable.svgMatthew Walker, *Why We Sleep* — https://www.amazon.com/Why-We-Sleep-Unlocking-Dreams/dp/1501144316Mayo Clinic report on resveratrol/red wine — https://www.mayoclinic.org/diseases-conditions/heart-disease/in-depth/red-wine/art-20048281CNBC — atai's 2021 Wall Street debut — https://www.cnbc.com/2021/06/18/peter-thiel-backed-psychedelic-start-ups-shares-pop-in-wall-street-debut.htmlFortune article on Angermayer's uranium bet — https://fortune.com/crypto/2025/05/27/christian-angermayer-uranium-digital-german-billionaire-tether/Robert Nelsen, ARCH Venture Partners — https://www.archventure.com/team/robert-nelsen/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/christian-angermayer-glp-1s/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:38] Crazy Consumer Demand for Mounjaro, Zepbound and Ozempic[00:07:45] Clinical Trials and Side-Effects: Can GLP-1s Benefit Non-Obese People?[00:12:52] Prescriptions and Drug Risks [00:25:57] The Trade-offs of Weight Loss, Testosterone[00:33:18] Personal Optimization with Sleep and Diet[00:40:44] Consumer Biotech: Vanity, Muscle and Sex[00:47:12] AtaiBeckley and the Psychedelics Market[00:56:25] Christian Angermayer: Uni Dropout to Multimillionaire[01:03:53] Quick-Fire Questions

After ImCheck’s inception in 2015, Pierre took the helm through clinical development and guided the startup to a $1.2B buyout by Ipsen in 2025.In a session at the Kadans Oncology Summit, he talks about how the exit materialised and the oncology space, including highlights from ASCO 2026, ADCs, in vivo CAR-T & checkpoint inhibitors. He reveals some of the most shocking lessons he learned from his time at Imcheck.---Learn more about Kadans’ Oncology Clusters, where oncology biotechs grow from start-up to global player: https://bit.ly/kadans-oncology---⭐️ ABOUT THE SPEAKERPierre has 30 years of experience in the biopharmaceutical industry, including 9 years at ImCheck and more than 3 years as EVP, Chief Strategy Officer at Theravectys. Prior to this, he also spent 10 years in senior roles in Sanofi and Baxter Healthcare.🔗 LINKS MENTIONEDKadans Oncology Summit — https://www.kadansoncologysummit.com/ImCheck Therapeutics — https://www.imchecktherapeutics.com/ImCheck ASCO data (2025) — https://www.imchecktherapeutics.com/all-press-release/news/imcheck-reports-high-remission-rates-in-aml-patients-with-ict01-combination-therapy-at-asco-2025/ImCheck acquisition by Ipsen (2025) — https://www.ipsen.com/press-release/ipsen-to-acquire-imcheck-therapeutics-expanding-its-leadership-in-oncology-strengthening-its-pipeline-3170788/Pancreatic cancer ASCO data (2026) — https://www.asco.org/about-asco/press-center/multi-selective-ras-inhibitor-nearly-doubles-survival-pancreatic-cancerDominik Schumacher, Tubulis | Founder-led ADC Biotech | E19 — https://flot.bio/episode/dominik-schumacher-tubulis/Ona Therapeutics raises $86.6M — https://ona-therapeutics.com/press-release/ona-therapeutics-raises-86m/Moderna five-year cancer-vaccine data (2026) — https://www.merck.com/news/moderna-merck-announce-5-year-data-for-intismeran-autogene-in-combination-with-keytruda-pembrolizumab-demonstrated-sustained-improvement-in-the-primary-endpoint-of-recurrence-free-survival-i/Sean Marett | BioNTech, Art of Dealmaking | E25 — https://flot.bio/episode/sean-marett-biontech-dealmaking/Laurent Levy, Nanobiotix | Nanoparticles, Radiotherapy | E45— https://flot.bio/episode/laurent-levy-nanobiotix-nanoparticles-radiotherapy/Marc de Garidel, Abivax | Ulcerative Colitis, Inflammation | E46 — https://flot.bio/episode/marc-de-garidel-abivax-ulcerative-colitis-inflammation/Jeito Capital €1B fund — https://www.jeito.life/en/jeito-capital-record-eur-1-billion-fundraise-jeito-ii-fund-therapeutic-innovation/ASCO 2026: ADC & In Vivo CAR-T Trends: ⁠https://flot.bio/pierre-d-epenoux-imcheck-adc-oncology/⁠📜 TRANSCRIPTRead the transcript here: https://flot.bio/episode/pierre-d-epenoux-imcheck-oncology/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:43] Highlights from ASCO 2026[00:07:48] ADCs and In Vivo CAR-T: the Next Wave[00:11:25] Pierre d’Epenoux Explains How to Stand Out in Oncology[00:15:45] Checkpoint Inhibitors and the Rise of Combination Therapies [00:21:23] ImCheck: from Inception to Ipsen Buyout[00:28:36] Pipeline Focus and French pharma: Why ImCheck Chose Ipsen [00:35:55] The Decision to Exit and Shocking Lessons[00:42:05] Why Checkpoint Inhibitors Disappointed Beyond PD-1[00:43:48] Quick-Fire Questions

Founded in 2010, the Institut Pasteur spinout PathoQuest sold to top CRO Charles River for $70M this year, a product of years of collaboration and stepwise investments.Jean‑François tells us how the exit unfolded, as well as the importance of biosafety and CMC as pharma and biotech outsource heavily and cell and gene therapies mature. We also cover how animal testing is disappearing from CMC and how France must nurture its biotech ecosystem.---For transparency, this episode has been sponsored by PathoQuest.---⭐️ ABOUT THE SPEAKERJean-François has more than 20 years of pharma leadership under his belt. Before his ten years at PathoQuest, he was a Senior Vice-President in charge of Ipsen’s GI-oncology and endocrinology franchise.He has an engineering degree and a master’s degree in Foreign Trade.🔗 LINKS MENTIONEDCRL acquires PathoQuest (2026) — https://pathoquest.com/press-release-pathoquest-to-join-charles-river-laboratories-2/Werner Lanthaler | Biopharma AI, CDMO, Antibody Optimization | E48 — https://flot.bio/episode/werner-lanthaler-biopharma-ai/Charles River Laboratories and PathoQuest Expand Strategic Biologics Partnership (2018) — https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-and-pathoquest-expand-strategicCharles River and PathoQuest validate viral safety assay (2023) — https://ir.criver.com/news-releases/news-release-details/charles-river-and-pathoquest-announce-publication-head-headPhilipp Baaske, NanoTemper | Bootstrapping in Biotech | E29 — https://flot.bio/episode/philipp-baaske-nanotemper-boostrapping-biotech/Solexa acquisition by Illumina (2007) — https://investor.illumina.com/news/press-release-details/2006/Illumina-Signs-Definitive-Agreement-to-Acquire-Solexa/default.aspxPathoQuest US lab opens in Wayne, PA (2022) — https://pathoquest.com/pathoquest-announce-the-opening-of-its-new-u-s-facility/Thomas Ybert, DNA Script | DNA Printing & Synthesis | E27 — https://flot.bio/episode/thomas-ybert-dna-script-dna-printing/Pascal Touchon | Cell Therapy, Jeito, Kymriah | E49 — https://flot.bio/episode/pascal-touchon-jeito/First FDA-approved CAR-T — https://www.novartis.com/news/media-releases/novartis-receives-first-ever-fda-approval-car-t-cell-therapy-kymriahtm-ctl019-children-and-young-adults-b-cell-all-refractory-or-has-relapsed-least-twiceMarc de Garidel, Abivax | Ulcerative Colitis, Inflammation | E46— https://flot.bio/episode/marc-de-garidel-abivax-ulcerative-colitis-inflammation/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/jean-francois-brepson-pathoquest-cmc/📖 BLOGS:How Next-Generation Sequencing is Changing Biopharma Manufacturing: https://flot.bio/next-generation-sequencing-pathoquest/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:06] Big Pharma Is Heavily Outsourcing[00:07:05] The $70M Charles River Acquisition[00:11:18] CROs, PE and WuXI[00:18:35] Biosafety with the "Intel Inside" Model [00:23:50] Replacing CMC Animal Testing: How the FDA Is Boosting Business [00:32:00] Lessons from US Expansion[00:38:02] Biologics, Cell Therapy, and $15B of In Vivo CAR-T Bets [00:42:59] Jean-François Brepson: From Siberia to Startup CEO[00:56:14] Quick-Fire: Animal Testing, AI, China, Elon Musk

When Hervé joined Incyte in 2014, the launch of lead product Jakafi in the US was choppy. By the time he left in 2025, he had grown their revenue from $300 million to a whopping $5 billion. We talk about the bureaucracy of Big Pharma, rare diseases, and why a biotech M&A supercycle isn’t as likely as you'd think.---Discover the best biotech companies in 🇪🇺 with the FlotBio Map. https://bit.ly/4nXmKjN---⭐️ ABOUT THE SPEAKERPrior to his time at Incyte, Hervé led the oncology business unit at Novartis and had leading roles at Aventis (now Sanofi). He is currently on the boards of companies including Incyte, Pierre Fabre, & Bicycle Therapeutics.🔗 LINKS MENTIONEDPascal Touchon | Cell Therapy, Jeito, Kymriah | E49 —https://flot.bio/episode/pascal-touchon-jeito/Alessandro Riva, Transgene | Cancer Vaccines, Oncolytic Viruses | E50— https://flot.bio/personalized-cancer-vaccine-oncolytic-viruses/Penn and Novartis CAR-T alliance (2012) — https://penntoday.upenn.edu/news/university-pennsylvania-and-novartis-form-alliance-expand-use-personalized-t-cell-therapy-canceIncyte and Novartis deal (2009) —https://investor.incyte.com/news-releases/news-release-details/incyte-announces-major-collaboration-and-license-agreement-twoHoppenot steps down as Incyte CEO (2025) — https://investor.incyte.com/news-releases/news-release-details/incyte-announces-change-its-board-directorsargenx leadership transition (2026) —https://argenx.com/news/2026/press-release-3212418BioNTech co-founders leadership transition (2026) — https://investors.biontech.de/news-releases/news-release-details/biontech-and-co-founders-announce-plan-pursue-next-generationIncyte tumbles after combo therapy with Merck fails study (2018) — https://www.reuters.com/article/incyte-study/update-2-incyte-tumbles-after-combo-therapy-with-merck-fails-study-idUSL4N1RJ2HW/Bristol-Myers Squibb receives accelerated approval of Opdivo (2014) — https://news.bms.com/news/details/2014/Bristol-Myers-Squibb-Receives-Accelerated-Approval-of-Opdivo-nivolumab-from-the-US-Food-and-Drug-Administration/default.aspxU.S. FDA approves Padcev (2025) https://www.pfizer.com/news/press-release/press-release-detail/us-fda-approves-padcevr-plus-keytrudar-certain-patientsFabrice Chouraqui, Pharming | Transgenic Rabbits, Rare Diseases | E43 — https://flot.bio/episode/fabrice-chouraqui-pharming-transgenic-rabbit/Isomorphic Labs secures $2.1 billion funding (2026) — https://storage.googleapis.com/isomorphiclabs-website-public-artifacts/ISOMORPHIC_LABS_FUNDING_12-05-26.pdf📜 TRANSCRIPTRead the transcript here: https://flot.bio/episode/herve-hoppenot-incyte-jafaki/📖 BLOGS:The $6 Billion Excel Illusion: Why Biotech Pipeline Forecasting is Broken: https://flot.bio/biotech-pipeline-forecasting-herve-hoppenot/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:59] Incyte legacy[00:12:12] Leadership transitions in Incyte, argenx and BioNTech[00:13:43] The JAK inhibitor market[00:19:36] Why forecasting in pharma is broken[00:29:17] Investor expectations & the Jakafi cliff [00:36:51] Biotechs trading under cash[00:40:01] Hervé Hoppenot’s EU roots[00:44:40] Big Pharma & bureaucracy[00:51:58] Quick-fire questions

We admire the mountains of Austria with the co-founder of Curie.Bio, a founder-friendly fund that now manages $1.25B and backs 38 portfolio companies.We discuss Curie.Bio’s track record, with its most advanced portfolio candidate Forward Therapeutics in Phase I.We also talk about major bottom-up successes including argenx, Ascendis and Genmab, and how life sciences investing differs from tech investing.Christoph also explains his ‘rebel’ mindset and why founders shouldn’t accept the status quo.---This episode is brought to you by Avance, where European biotech turns for trusted financial advice. Learn more at https://bit.ly/flot-avance---⭐️ ABOUT THE SPEAKERChristoph co-founded of Curie.Bio in 2022, after serving as Partner at Third Rock Ventures for 6 years. He also had leading roles at Blueprint Medicines for ten years, and at MOMA Therapeutics for one year.He has also been an Adjunct Associate Professor at Johns Hopkins University for more than 20 years, with past roles at Celsius Therapeutics, Sanofi, and Novartis. 🔗 LINKS MENTIONEDCurie.Bio — https://curie.bio/Christoph Lengauer — https://www.linkedin.com/in/christoph-lengauer-75b7961b/Sanofi to acquire Blueprint Medicines — https://www.sanofi.com/en/media-room/press-releases/2025/2025-06-02-05-00-00-3091541Forward Therapeutics Announces $50 Million Series A Financing —https://forward-tx.com/press-release/forward-therapeutics-announces-50-million-series-a-financing/Gilead to Acquire Tubulis — https://www.gilead.com/news/news-details/2026/gilead-to-acquire-tubulis-adding-potentially-best-in-class-antibody-drug-conjugate-and-next-generation-platform-to-further-strengthen-oncology-pipelineDominik Schumacher, Tubulis 🇩🇪 | Founder-led ADC Biotech ⭐️ | E19 — https://flot.bio/episode/dominik-schumacher-tubulis/Sander Slootweg, Forbion 🇳🇱 | European Biotech Investment, Venture Capital | E56 — https://flot.bio/episode/sander-slootweg-forbion-eu-biotech-investment/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/christoph-lengauer-curiebio-biotech-founders/📖 BLOGS BASED ON THIS EPISODE:The Biotech Equity Gap: Why Curie.Bio is Re-Writing the Founder Playbook: https://flot.bio/biotech-equity-founder/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:03:05] Curie.Bio: 38 portfolio companies in just three years[00:09:29] The four buckets of biotech venture capital[00:15:42] Why life sciences investing is harder than tech investing[00:28:28] Searching for European biotech innovation[00:38:00] Founder-friendly equity shares[00:55:15] argenx, Genmab and Ascendis: Bottom-up biotech successes[01:03:37] Blueprint Medicines: From struggle to a $9B sale[01:09:03] Christoph Lengauer the disruptor[01:13:37] Quick-fire questions

Forbion celebrates its 20th anniversary this year, with a whopping €5 billion raised so far. Sander marks the occasion by discussing how Forbion plans to promote life sciences investments in Europe via the Life Sciences VC Coalition. We chat about building European biotech champions like Argenx, the thriving Chinese biotech space, and why life should be fun, not only dealflow. ---This episode is brought to you by GeneNovate Investors Day, an invite-only event for scientists, startups, investors, and industry leaders working at the forefront of cell and gene therapies. Learn more: https://bit.ly/flot-genenovate or reach out to [[email protected]](mailto:[email protected]) ---⭐️ ABOUT THE SPEAKERSander co-founded Forbion in 2006. Prior to co-founding Forbion, Sander co-founded ABN AMRO Capital/Life Sciences in 2000. Sander serves on the boards of NorthSea Therapeutics & Azafaros, with previous board roles at NewAmsterdam Pharma, Replimune & uniQure.🔗 LINKS MENTIONEDForbion website — https://forbion.com/Forbion Joins Newly Launched European Life Sciences Coalition — https://forbion.com/news-insights/news/forbion-joins-newly-launched-european-life-sciences-coalition/Novartis acquires Gyroscope Therapeutics — https://www.novartis.com/news/media-releases/novartis-acquire-gyroscope-therapeutics-adding-one-time-gene-therapy-could-transform-care-geographic-atrophy-leading-cause-blindnessGSK acquires Aiolos Bio — https://www.gsk.com/en-gb/media/press-releases/gsk-enters-agreement-to-acquire-aiolos-bio/European Biotech Act — https://health.ec.europa.eu/publications/proposal-regulation-establish-measures-strengthen-unions-biotechnology-and-biomanufacturing-sectors_enCapital markets union — https://finance.ec.europa.eu/financial-markets/financial-markets-policy/capital-markets-union_enGimv discontinues activities for new Life Sciences investments — https://www.gimv.com/en/news/gimv-increases-focus-strategic-objectives-and-discontinues-activities-new-life-sciencesWhy the Strait of Hormuz matters so much in the Iran war — https://www.bbc.co.uk/news/articles/c78n6p09pznoAntoine Papiernik, Sofinnova | Billion Investing with Balance — https://flot.bio/episode/antoine-papiernik-sofinnova-ebillion-biotech-investing-with-balance/Christina Takke, V-Bio Ventures | Wonder VC Woman | E17 — https://flot.bio/episode/christina-takke-v-bio-ventures/Fabrice Chouraqui, Pharming | Transgenic Rabbits, Rare Diseases | E43 — https://flot.bio/episode/fabrice-chouraqui-pharming-transgenic-rabbit/Top 50 Investors in Biotech in 2026: Europe’s Most Active Life Sciences Funds: https://flot.bio/european-biotech-investors-2026/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/sander-slootweg-forbion-eu-biotech-investment/📖 BLOGS:How Europe could have more Biotech Champions like Argenx: https://flot.bio/argenx-model-vc-returns/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEW🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:13] Uniting EU biotech VCs[00:09:25] Why EU pension funds overlook biotech VCs[00:17:36] Making EU biotech an attractive market[00:30:24] Forbion’s “special sauce” and company culture[00:39:31] Sourcing China’s biotech assets from Europe[00:49:51] EU biotech robustness in energy crises[00:52:19] Learning science as an investor[00:57:18] Sander Slootweg on skis[01:00:55] Quick-fire questions

Antibiotic-resistant superbugs could become a greater threat than cancer. Bruno and Pedro at the startup Immunethep explain how they’re tackling the crisis with vaccines.We discuss how Immunethep could challenge Pfizer’s $7bn+ Prevnar, and how one pharma company got on board after a representative said he doesn’t believe in vaccines!---For transparency, this episode has been sponsored by Immunethep. Learn more at https://bit.ly/flot-immunethep---⭐️ ABOUT THE SPEAKERSBruno is Immunethep’s co-founder and CEO, and co-founder of the startup creator Venture Catalysts. He also co-founded the tech startup Abyssal, which was acquired by marine robotics company Ocean Infinity in 2021.Co-founder and CSO Pedro is a biomedical scientist previously serving as an Assistant Researcher at i3S. He has a PhD in Biomedical Sciences from the University of Porto and boasts over 30 peer-reviewed publications.🔗 LINKS MENTIONEDImmunethep website — https://www.immunethep.com/When Cancer is no longer the biggest threat: AMR’s growing shadow over oncology — https://www.incate.net/when-cancer-is-no-longer-the-biggest-threat-amrs-growing-shadow-over-oncology/Antimicrobial resistance WHO page — https://www.who.int/news-room/fact-sheets/detail/antimicrobial-resistanceCenter for Global Development: The Economics of Antibiotic Resistance — https://www.cgdev.org/sites/default/files/economics-antibiotic-resistance.pdfGSK completes Affinivax acquisition — https://www.gsk.com/en-gb/media/press-releases/gsk-completes-acquisition-of-affinivax-inc/António Portela, BIAL 🇵🇹 | Parkinson’s, Family-Owned Biotech | E54 —https://flot.bio/episode/antonio-portela-bial-parkinsons-biopharma/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/immunethep-antimicrobial-resistance/📖 SHORT BLOGS BASED ON THIS EPISODE:Why Antimicrobial Resistance Is Bigger Than Cancer: https://flot.bio/antimicrobial-resistance-immunethep/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:10] The overlooked antimicrobial resistance crisis[00:10:26] Immunethep: When Bruno Santos and Pedro Madureira teamed up[00:15:41] Taking down multiple superbugs with a single vaccine[00:27:30] Preparing to challenge Pfizer’s $7bn+ Prevnar[00:42:11] The Portuguese biotech ecosystem[00:46:10] Bruno Santos’ cross-disciplinary experience[00:48:09] Not taking ‘no’ for an answer from big pharma[00:51:44] Immunethep’s IP and tech transfer achievements [00:55:44] Quick-fire questions

We dive into Bial’s meteoric journey from a small pharmacy in Porto to Portugal’s biggest biopharma company, all while still being 100% family owned. We cover Bial’s pipeline, including treatments for epilepsy and Parkinson’s, and why Bial’s multigenerational leadership story is nowhere as dramatic as HBO’s “Succession.”---Avance is where European biotech turns for trusted financial advice. Learn more at https://bit.ly/flot-avance.---⭐️ ABOUT THE SPEAKERPrior to leading Bial, António worked at Roche in the UK as a Medical Sales Representative and a Market Analyst. While he worked at Roche, he also launched a Hepatitis C drug.António holds a degree in Economics from the Faculty of Economics at the University of Porto and an Executive MBA from the Porto Business School.🔗 LINKS MENTIONEDBial’s website — https://www.bial.com/enBial 2024 financials — https://downloads.ctfassets.net/oyx9uzi3vj2y/XTmSUhXd7ggVEnpJLx0Ch/7a22a851246d910c517e064fca4b6968/Consolidated_Management_Report_BIAL_Holding_2024.pdfBial launches KYNMOBI in Portugal and Spain — https://bial.com/en/media/news/bial-launches-kynmobi-in-portugal-and-spainSuccession TV show — https://www.imdb.com/title/tt7660850/BIO-Europe Spring — https://informaconnect.com/bioeurope-spring/📜 TRANSCRIPTRead the full transcript here: https://flot.bio/episode/António-Portela-BIAL-parkinsons-biopharma/📖 SHORT BLOGS BASED ON THIS EPISODE:Biopharma family succession: Bial CEO António Portela’s strategy: https://flot.bio/biopharma-succession-bial/💸 DONATEWe welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme⭐️ SPONSORSHIPReady to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!🫶 FOLLOW USNewsletter: http://eepurl.com/h_fnmHLinkedIn: https://www.linkedin.com/company/flot-bio/X (Twitter): https://x.com/FlotBio🙏 LIKE/FOLLOW/REVIEWDid you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.🎙️ ABOUT FLOT.BIOFlot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS[00:00:00] Intro[00:02:31] Bial’s humble beginnings[00:05:59] Behind the scenes of the Portela family[00:12:45] A CNS innovator pipeline[00:18:42] From small molecules to biologics[00:21:17] Sourcing Portuguese talent from overseas[00:24:14] Manufacturing critical for gene therapy[00:26:21] António Portela’s dynamic leadership[00:27:38] Quick-fire questions