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Amidst all the effort at #jpm2024 to finance innovation, we should also be talking about how to protect it from the wrong stroke of the pen. Prepare with by reading the latest Semper Maior: Spirits Rising report from the team at RA Capital Management https://lnkd.in/e-r_F2zg (note: your email will give you access to the report. We're gathering emails so we don't have to rely on social media like this to reach folks in biotech). RApport | Biotech Insight & Opinion

Virtus partner, AlphaSimplex Group’s Chief Research Strategist and PM, Kathryn Kaminski, PhD, CAIA, was on Bloomberg TV discussing the “Epic” shift in the bond market, where trend signals have finally turned long. Check out her appearance: https://ow.ly/hs1S50Qp1k5 #virtuspartner #interestrates #liquidalternatives #alts #managedfutures #systematic #quantititative #globalalternatives

Just landed in SF for #jpm2024 and on the plane over from NYC this excellent piece from Peter Kolchinsky & Tess Cameron at RA Capital Management really struck me as a capital markets veteran but amateur / fairly ignorant #lifesciences observer. Key takeaway for me is that to be successful in #biotech you have to have specialist investors on board and that journey starts way before #IPO. RA have identified 41 specialist investors (alas they don’t disclose who they are) who invest in US listed biotech companies with market caps below $10bn - they deem companies who have these investors as “Core”. Their data highlights some interesting points and leads me to the following conclusions: 👉 It is very hard to add specialists once you have gone public with none already onboard. You are likely to find yourself stuck in US nano or microcap hell 👉 Core company market weighted performance far outstrips the main XBI and IBB index performance, Peripheral company (those without specialists) performance is far worse than the index 👉 If you have less than 1 year cash on hand and significant burn you are in big trouble (as the signal is that you tried to raise capital already and couldn’t) 👉 M&A broke records in both deal count and volume in 2023 and accounts for majority of Core company returns 👉 M&A activity concentrated in Core companies that have 3 or more specialist on register 👉 Market cap of Core companies is small relative to free cash flow of big pharma acquiror universe who need to restock drug pipeline - M&A should really underpin the sector going forward Couple of other things to say which aren’t explicit in the article. Biotech lends itself to active management due to the distribution of returns which has elements of private markets / #venturecapital. From the data in the piece, specialist managers are able to take advantage of superior knowledge to invest in higher-quality companies and it makes sense according to the data to follow those investors. Generalist participation in the sector is obviously much more erratic and driven by external risk conditions. It is clear the key to a successful sector is having a deep specialist community and, for companies, their participation divides the universe into have and have-nots. #markets #equities #healthcare #investorrelations #ir cc London Stock Exchange LSEG (London Stock Exchange Group) https://lnkd.in/eRgAb5vD

AlphaSimplex Group’s Chief Research Strategist and PM, Dr. Kathryn Kaminski, PhD, CAIA, was on Bloomberg TV discussing the “Epic” shift in the #bond market, where trend signals have finally turned long. Check out her appearance: https://ow.ly/1GQR50Qp1pH #interestrates #liquidalternatives #alts #virtuspartner #managedfutures #systematic #quantititative #globalalternatives

Biotech market - why is the pie growing and returns shrinking - on episode 87 of Money in Motion, https://lnkd.in/eX65Xs-w Thank you AlphaMaven #AlternativeInvestment. To view all the episodes at AlphaMaven, please visit the library archives and more here. https://lnkd.in/gVYUpB3E

Buy & Sell Signals When (IDNA) Moves Investors should Listen: Stock Traders Daily has produced this trading report using a proprietary method.  This methodology [...] Look at the Charts

Sensex @80K: 3 things investors must do now To know 3 things Contact us now - https://www.nuwealth.in . . #sensexnews #sensexindia #sensextoday #stockmarket #stockmarketnews #stockmarkettips #stockmarketinvesting #stockmarketeducation #trendingnow #trendingnews #trendingpost #stockmarketcrash #BankNifty #marketnews #indiansharemarket Dr Kumar Gaurav

📽️ In this clip from Wealth Management EDGE, Terri Kallsen CFP ® of Rise Growth Partners shares her insights with Brianna Monsanto about the growth plateaus RIAs encounter at the $3 billion mark and then again at the $10 billion threshold. She also explains how Rise acts as a synergistic financial partner for growth-minded RIAs, helping them to scale their businesses past these plateaus in order to ultimately win on behalf of advisors and clients alike. Keep watching at Financial Advisor IQ: #RIAs #WMEdge #wealthmanagement #growth  https://lnkd.in/gsEzS3H3

Insights from Jonas Ribbelöv, Managing Partner at Vator Securities, in a recent interview with BioStock - Connecting Innovation and Capital "What's your main focus right now when markets are as tough as they are?   Well, the markets are indeed very tough. We're closing out on the 2023, a record year for us. So, we did 40 transactions last year. So, it's basically one a week. The markets are indeed challenging, but if you put in the legwork, you can succeed, even in this challenging market environment. What's required is that we do reach out to investors which is maybe three to four times as many as is normally required in a normal sentiment. In terms of sentiment, we're seeing that since, November ish, last year, the sentiment is improving as successively all by from very low levels."

💸 Where is the money behind the money? 💸    That was the question Stefan Fischer, Managing Partner, TVM Capital Life Science, who moderated a lively panel discussion at #BIOEurope, asked to Cedric Bisson, Teralys Capital; Sonya M. Pauls, Clifford Chance; Brad Robling, Lilly New Ventures, Eli Lilly and Company; and Christian Stiebner, KfW Capital .   In an interview with Stefan afterwards, he explained that the panel intended to shed light on what goes on "behind the scenes" in the VC community. "More or less, we are in the same boat [as companies]. We also have to fundraise; we need to report; and we are interacting with our stakeholders. It's not a black box." He also discussed the importance of helping portfolio companies to gain insight into how the system works so they can better understand #VC requirements of them.    Watch the interview here: https://lnkd.in/g5NFinx8