Most biotech entrepreneurs I’ve met have a dream that ends one of two ways. They will either take their company public, or sell their startup to a giant drugmaker. Those are the paths to making money, making venture investors happy, and getting the resources needed to take a new drug all the way to the market. Jim Posada looked at those two roads and essentially said to himself: Find another way. “A lot of people in venture capital think they’ll fund a company and it will get bought. It’s surprising. It’s becoming more and more obvious it’s an antiquated view,” Posada says. He added: “We don’t think there’s a large probability of going public or being acquired. Our exit will be a licensing transaction. The probability of that happening is quite high.”
