Raymond Price

Genenta Science (Nasdaq: GNTA) ANNOUNCES STRATEGIC TRANSFORMATION INTO A #BIOTECH, #DEFENSE, #AEROSPACE, AND #NATIONAL #SECURITY INDUSTRIAL CONSOLIDATOR - Building on Biotech Heritage, Expanding into Defense and National Security Through Industrial Integrations of Privately Held Specialized Italian Companies - ATC - a Defense-Sector Company: First Industrial Integration - Fondazione Praexidia Joins as a Long-Term Strategic Shareholder -Corporate Name Change to Saentra Forge S.p.A. - Biotech Clinical Updates and Partnering Strategy - Cash, Cash Equivalents, and Marketable Securities of approx. $33 million https://lnkd.in/di3z9yAF

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Biocom California hosted an insightful "Spotlight on Orange County" panel discussion last week. Jason Lantgen joined experts from UC Irvine, University Lab Partners, and Glaukos Corporation to explore OC's thriving life science ecosystem. The panel highlighted the region's benefits, including quality of life, ease of access, and a talented labor pool, while addressing challenges like supply scarcity and infrastructure needs. From cutting-edge innovations to investment trends, Orange County's biotech hub is poised for exciting growth. Watch the recording here: https://co.jll/4iPlv2G #lifescience #medtech #OrangeCounty #JLL

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𝗔𝘀 𝗝𝗣𝗠 𝘄𝗲𝗲𝗸 𝗯𝗲𝗴𝗶𝗻𝘀 𝗧𝗼𝗱𝗮𝘆, 𝗺𝘆 𝗳𝗼𝗰𝘂𝘀 𝘁𝘂𝗿𝗻𝘀 𝘁𝗼 𝗦𝗼𝘂𝘁𝗵𝗲𝗿𝗻 𝗖𝗮𝗹𝗶𝗳𝗼𝗿𝗻𝗶𝗮, 𝗽𝗮𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝗿𝗹𝘆 #𝗦𝗮𝗻𝗗𝗶𝗲𝗴𝗼, 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻-𝗱𝗿𝗶𝘃𝗲𝗻 𝗹𝗶𝗳𝗲 𝘀𝗰𝗶𝗲𝗻𝗰𝗲𝘀 𝗵𝘂𝗯𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝘂𝗻𝘁𝗿𝘆. The region consistently translates strong science into real programs, supported by experienced operators, emerging biotechs, and capital that understands development risk. Anchored by the University of California San Diego, I’ve worked with sponsors here across early IND strategy through late-stage CMC and regulatory execution, and it remains a core engine for moving innovation from bench to submission. ADARx Pharmaceuticals (San Diego) — RNA therapeutics and related programs 858 Therapeutics (San Diego) — precision oncology small molecule pharmaceutical company Acadia Pharmaceuticals Inc. Pharmaceuticals (San Diego) — small molecule therapeutics Aardvark Therapeutics (San Diego) — metabolic/inflammatory small molecule pharma ADAXION Therapeutics (San Diego) — drug delivery and formulation biotech ARS Pharmaceuticals, Inc. (San Diego) — small molecule/nasal spray therapeutics Modulo Bio (San Diego) — early-stage biotech (seed stage) Orphagen Pharmaceuticals, Inc. Pharmaceuticals (San Diego) — early-stage biotech (grant supported) AIZEN Therapeutic (San Diego) — early-stage biotech (seed supported) Adaptilens (San Diego) — Series A biotech Crinetics Pharmaceuticals (San Diego) — clinical-stage biotech (endocrine/rare disease focus) Mirador Therapeutics (San Diego) — recently funded autoimmune/anti-inflammatory biotech (founded 2024)  Mirati Therapeutics Enkrisi

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Princeton-based Made Scientific and Southern California-based Basilard BioTech, Inc. announced a strategic collaboration to accelerate the development and translation of Basilard BioTech’s nanomechanical gene delivery platform, Celletto. Celletto addresses long-standing limitations of both viral vectors and conventional non-viral methods. Under the agreement, Basilard BioTech will leverage Made Scientific’s Center of Excellence for Process and Analytical Development and its GMP manufacturing facility. Read more: https://lnkd.in/emde3qzK

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Biopharma sentiment varies widely across the industry in Q4. Here’s what’s driving the differences: Endpoints just released the Q4 Biopharma Sentiment Index, and one pattern is unmistakable: Investor sentiment is significantly more optimistic than sentiment across biotech operators, Big Pharma, and academia. Investor sentiment: 97 vs. Biotech: 59 | Big Pharma: 80 | Academia: 50 This isn’t an anomaly. It reflects structural differences in incentives, time horizons, and operational exposure. 1. Investors score the future. Operators score the present. Investors are responding to the macro opportunity: • Improving public markets • A strong M&A cycle • Renewed appetite for novel mechanisms • Better access to later-stage capital This explains why investor sentiment spikes on: Future finances (138) and future funding climate (140). They are evaluating the industry’s long-term value creation curve, not day-to-day constraints. 2. Biotech and Pharma teams feel the execution pressure investors don’t. Operating teams face: • Tighter budgets • Headcount freezes • Regulatory complexity • Portfolio reprioritization • Higher cost of development That shows up clearly: Biotech funding climate: 52 Big Pharma regulatory sentiment: 20 Academia finances: 34 These groups aren’t pessimistic, they’re realistic about operational constraints. 3. Academia’s low sentiment reflects reliance on non-dilutive funding Grant cycles, institutional budgets, and geopolitical funding constraints create a level of volatility investors don’t face. Their BPSI score (50) reflects structural dependence on government and philanthropic capital rather than capital markets. 4. The divergence is normal, but unusually wide this cycle. Historically, investor optimism turns first during recovery phases. But this gap is unusually large because: • Public valuations have rebounded • M&A is driving premium pricing again • Private capital is more available ...while operating conditions lag that recovery. Execution pressure remains high even as capital markets improve. Here's what this means for biotech leaders: • Investor enthusiasm is back, but selective. Capital is flowing toward unique mechanisms, platforms, and de-risked biology. • Operational constraints will ease more slowly. Hiring, budgeting, and regulatory sentiment often recover quarters after markets do. • The gap will narrow, but strategy must bridge it. Companies that align scientific differentiation with clear capital strategy will benefit most from this sentiment spread. Biopharma is entering a phase where capital optimism and operational realism coexist. Leadership teams that understand both perspectives and position accordingly will create the most value. If you’re navigating these dynamics and want to align financing strategy with portfolio priorities, I’m always open to a conversation. www.kybora.com

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In an op-en published by STAT, Biocom California President & CEO Tim Scott warns that the U.S. is at risk of repeating history—ceding its leadership in biotechnology just as it once did in shipbuilding and semiconductors. As China accelerates its investment and innovation in life sciences, he calls for the U.S. to act decisively to maintain its global edge. That means increasing funding for biomedical research, reauthorizing key innovation programs like SBIR/STTR, modernizing clinical studies, and enacting trade and pricing policies that encourage, not hinder, innovation. Biotechnology isn’t just an industry—it’s a cornerstone of national strength, health security and economic competitiveness. Read his full op-ed on the future of U.S. biotech leadership: https://bit.ly/4oKjszI

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This Perspective discusses key challenges, practical insights, and lessons learned from ongoing #LNP development efforts, with emphasis on characterization strategies, delivery specificity, scale-up considerations, long-term stability, and emerging applications of artificial intelligence.  https://lnkd.in/eRvpdnhQ

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Biotech Resilience in the Face of Headwinds - What will Define the Next Wave of Biotech? As Alexandria Real Estate Equities, Inc. laid out to analysts earlier this year, the biopharma industry stands at a fascinating inflection point. From high interest rates and NIH restructuring to FDA leadership turnover, it's easy to focus on the turbulence. But buried in the noise is a core truth: this sector has always advanced in the face of challenge. As Joel Marcus noted, game changing companies like Alnylam (2002) and Moderna (2010) were born in downturns. Fast forward to today, and the fundamentals remain strong: unmet need, relentless innovation, and national security which are pillars that will define the next wave of biotech. We know that not every city can be a biotech cluster. The top regions including Boston/Cambridge, Bay Area, BioHealth Capital, and others happen as the result of: 🧠 World-class research institutions 💰 Proximity to capital 🧬 Robust talent pipelines 🧱 Purpose-built lab space 🤝 Strong public-private partnerships A biotech cluster is more than real estate...it’s a living ecosystem. And while the rankings may shift, the blueprint for biotech vitality is clear. 📍 Which region do you think will rise next? We already see Houston TX hosting a number of companies.... #biotech #lifesciences #innovation #biopharma #investment #randd #futureofhealthcare #leadership #biotechclusters

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Bio-tidbit about Bio-bucks. Earnout failure is near 80%. In typical biotech deals, there are two main components that make up payment terms. The upfront is the amount of money that is transferred from the Pharma into the Biotech upon deal execution, and milestones are payments made along the way upon achieving pivotal events during drug development. These milestone payments are termed biobucks because the payouts hinge on successful biology achievements -- very risky business. Milestones can be based on agreed to accomplishments such as IND, first patient in, completion of clinical phases.... there is an art to BD negotiations here that is unique to each deal. In theory these milestones should be believable, achievable, and actionable, as both parties want a "win" to their contract. The glamor of biotech, what makes headline news, are the numbers reflecting total deal size, but in reality, the vast majority of deals never pay out the full biobucks because milestones are not acheived. Hence the upfront payments have more weight as it represents real monetary transaction and biobucks more akin to aspirational Monopoly Money waiting to become real. In this article SRS, using internal data of deals financed, reveals that 78% of their biotech deals executed never fully achieve milestone earnouts. In other words, the contracts fail the vast majority of the time and consistent to the failure rates seen in drug candidate performance in clinical trials. Regardless of clinical outcome, the money involved in upfront payments are gone, vaporized from the treasury of the pharma companies - and note this cssh comes from the profits of the pharma's product sales. As a result, pharmas pressure negotiations to commit to upfronts as low as possible, and backload the deal with future biobuck payments knowing full well that have a nearly 80% chance of never paying out. In this Fierce Biotech article, SRS data shows the average deal (n=128) their company finance is $386M upfront and $437 milestone payments, with a note that the upfronts have been trending upwards in the past few years. This suggests that the biotechs may be having the upper hand in negotiating deals with pharma. Interesting read and a good reference point when scanning the next biotech news flash. Fierce article here. https://lnkd.in/e39EJMmk

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We’re excited to share that Minaris Advanced Therapies has joined the California Institute for Regenerative Medicine (CIRM) Industry Resource Partner (IRP) Program. Through this partnership, Minaris will support CIRM-funded researchers and companies by providing expertise in process development and GMP manufacturing to help advance promising cell and gene therapy programs toward clinical and commercial success. As a global CDMO dedicated exclusively to advanced therapies, we’re proud to collaborate with CIRM to help accelerate the development of life-changing treatments for patients. Read the full announcement to learn more about how this partnership will support innovation in regenerative medicine: https://lnkd.in/eWtD2Daa #MinarisAdvancedTherapies #CIRM #CellTherapy #GeneTherapy #AdvancedTherapies #RegenerativeMedicine #CGT

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𝐋𝐚𝐭𝐞𝐫 𝐓𝐨𝐝𝐚𝐲: BiotechTV visited Maze Therapeutics in the Bay Area this morning and spoke with CEO Jason Coloma about how they are developing small molecules for genetically driven conditions. See the full discussion later today.

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Iambic Therapeutics Co-founder and CEO Thomas Miller will present at the UC San Diego Legends of Science Oncology Symposium (Sept 12) as part of the session “AI in Cancer: Where Are We Going?” Tom will detail how Iambic’s leading AI models for structure-based design and molecular property prediction are accelerating the identification of highly differentiated cancer drug candidates – and highlight IAM1363 – a novel type II HER2 inhibitor for which Iambic will soon share clinical data. Learn more about the program here: https://lnkd.in/giXVcSzq #AI #Drugdiscovery #Oncology #UCSD

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