Perspectives

As scientists, we are wired with a passion for learning and research. We bring that to our work as biotech investors and company builders. We belong to a like-minded community engaged in a vibrant discourse with itself and with the public on a variety of topics ranging from business best-practices to the future of healthcare. This growing collection of writings, together with our other outreach efforts, represents our contribution to the discourse. We hope you find them useful.

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INTERVIEW

PM Corner: A Conversation with RA Capital's Peter Kolchinsky

Posted DECEMBER 2019

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Evercore ISI — We are continuing our series of discussions with leading healthcare and biopharma portfolio managers as we try to leverage the top minds in the investment industry to help inform our own views in this rapidly changing biopharma era. RA Capital is one of the leading dedicated healthcare investment funds and has been built over nearly two decades with a unique approach to analyzing therapeutic categories...

ARTICLE

Beyond Crossover: Rethinking the IPO Process - Introducing the "Series I" IPO and Rules-based Allocation

Posted August 2018

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Investors that share your vision of your company should be willing to invest larger amounts (that are harder to sell), even at high valuations, than those who don’t appreciate its full potential but sense an opportunity for quick gains (and would only want smaller, flippable amounts).

ARTICLE SERIES

The Biotech Social Contract

Posted December 2017

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The Biotech Social Contract series on Medium defines the biopharmaceutical industry’s social contract with America, examines practices that deviate from that contract, and proposes refinements to healthcare policy to ensure that our continued investment in scientific progress ultimately yields affordable, effective therapeutics for future generations.

INTERVIEW

Investing Upstream

Posted February 2016

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BioCentury — After a decade of focusing on public investments and later adding private investments to its remit, RA Capital is getting into the business of starting companies from whole cloth. The firm thinks having a dedicated financier from start to acquisition or profitability ofers the continuity of support that many companies are seeking...

INTERVIEW

Q&A: Biotech Investing with Crossover Fund RA Capital

Posted September 2015

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FINalternatives — The first word that comes to mind when chatting with the team at Boston-based RA Capital Management is intriguing. The company is basically a sophisticated life sciences think-tank wrapped in a fund that finances private, IPO and follow-on financings for a portfolio of early-stage biotech companies. The company’s crossover fund, offered to institutional investors, has more than $1 billion in AUM...

INTERVIEW

RA Capital: Flexibility builds innovation

Posted August 2015

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Partnering News — Flexibility is the watchword for investment at RA Capital Management. As Peter Kolchinsky, managing director, explained, “Investors should be as flexible as possible...

ARTICLE

Hepatitis C Commercial Game Theory

Posted January 2015

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Xconomy National — Anyone either celebrating or fearing the start of a Hepatitis C drug price war should take a break from the excitement to consider that a far more nuanced and profound game is at hand...

ARTICLE

Rethinking Venture Philanthropy After the Kalydeco Windfall

Posted December 2014

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Xconomy Boston — The Cystic Fibrosis (CF) Foundation’s big win in venture philanthropy can fuel constructive competition among companies developing innovative CF drugs, benefiting both patients and the healthcare system by increasing future treatment options and reducing their cost...

ARTICLE

How to Save $200 Billion and Cure Hepatitis C

Posted July 2013

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Xconomy Boston — Wall Street is buzzing with anticipation about the first new all-oral drugs for hepatitis C approaching the market. The high rate of HCV infection and dissatisfaction with current treatments have created a potential multi-billion dollar bonanza for drug companies...

ARTICLE

Solution Development: A Model For Structuring Biotechs And Developing Better Drugs

Posted September 2012

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IN VIVO — Industry must think differently about funding high-risk/reward development of drug candidates against novel targets. Multiplexed Phase II proof-of-concept trials can light a path toward lower-risk pivotal studies and provide a model for building biotechs to deliver what patients, providers, payors, and investors all want: solutions...

ARTICLE

How To Create A Lasting Peace Between Biotech Management, Shareholders And Employees

Posted July/August 2011

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IN VIVO — Biotech executives make strategic decisions based on incentives that aren’t necessarily aligned to benefit either the company’s investors or employees. Three modifications to business as usual would help solve the problem and lead to improvements in the productivity of people and capital in the sector...

ARTICLE

Beyond Crossover: Rethinking the IPO Process - Introducing the "Series I" IPO and Rules-based Allocation

Posted August 2018

Post Image

Investors that share your vision of your company should be willing to invest larger amounts (that are harder to sell), even at high valuations, than those who don’t appreciate its full potential but sense an opportunity for quick gains (and would only want smaller, flippable amounts).

ARTICLE SERIES

The Biotech Social Contract

Posted December 2017

Post Image

The Biotech Social Contract series on Medium defines the biopharmaceutical industry’s social contract with America, examines practices that deviate from that contract, and proposes refinements to healthcare policy to ensure that our continued investment in scientific progress ultimately yields affordable, effective therapeutics for future generations.

ARTICLE

Hepatitis C Commercial Game Theory

Posted January 2015

Post Image

Xconomy National — Anyone either celebrating or fearing the start of a Hepatitis C drug price war should take a break from the excitement to consider that a far more nuanced and profound game is at hand...

ARTICLE

Rethinking Venture Philanthropy After the Kalydeco Windfall

Posted December 2014

Post Image

Xconomy Boston — The Cystic Fibrosis (CF) Foundation’s big win in venture philanthropy can fuel constructive competition among companies developing innovative CF drugs, benefiting both patients and the healthcare system by increasing future treatment options and reducing their cost...

ARTICLE

How to Save $200 Billion and Cure Hepatitis C

Posted July 2013

Post Image

Xconomy Boston — Wall Street is buzzing with anticipation about the first new all-oral drugs for hepatitis C approaching the market. The high rate of HCV infection and dissatisfaction with current treatments have created a potential multi-billion dollar bonanza for drug companies...

ARTICLE

Solution Development: A Model For Structuring Biotechs And Developing Better Drugs

Posted September 2012

Post Image

IN VIVO — Industry must think differently about funding high-risk/reward development of drug candidates against novel targets. Multiplexed Phase II proof-of-concept trials can light a path toward lower-risk pivotal studies and provide a model for building biotechs to deliver what patients, providers, payors, and investors all want: solutions...

ARTICLE

How To Create A Lasting Peace Between Biotech Management, Shareholders And Employees

Posted July/August 2011

Post Image

IN VIVO — Biotech executives make strategic decisions based on incentives that aren’t necessarily aligned to benefit either the company’s investors or employees. Three modifications to business as usual would help solve the problem and lead to improvements in the productivity of people and capital in the sector...

INTERVIEW

PM Corner: A Conversation with RA Capital's Peter Kolchinsky

Posted DECEMBER 2019

Post Image

Evercore ISI — We are continuing our series of discussions with leading healthcare and biopharma portfolio managers as we try to leverage the top minds in the investment industry to help inform our own views in this rapidly changing biopharma era. RA Capital is one of the leading dedicated healthcare investment funds and has been built over nearly two decades with a unique approach to analyzing therapeutic categories...

INTERVIEW

Investing Upstream

Posted February 2016

Post Image

BioCentury — After a decade of focusing on public investments and later adding private investments to its remit, RA Capital is getting into the business of starting companies from whole cloth. The firm thinks having a dedicated financier from start to acquisition or profitability ofers the continuity of support that many companies are seeking...

INTERVIEW

Q&A: Biotech Investing with Crossover Fund RA Capital

Posted September 2015

Post Image

FINalternatives — The first word that comes to mind when chatting with the team at Boston-based RA Capital Management is intriguing. The company is basically a sophisticated life sciences think-tank wrapped in a fund that finances private, IPO and follow-on financings for a portfolio of early-stage biotech companies. The company’s crossover fund, offered to institutional investors, has more than $1 billion in AUM...

INTERVIEW

RA Capital: Flexibility builds innovation

Posted August 2015

Post Image

Partnering News — Flexibility is the watchword for investment at RA Capital Management. As Peter Kolchinsky, managing director, explained, “Investors should be as flexible as possible...