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Raising Biotech

Raising Biotech

By: Surani Fernando
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 A narrative podcast series hosted by journalist Surani Fernando that goes beyond the headlines to explore how biotech companies are really built — from bold ideas and impressive fundraises to the science that could reshape healthcare. Surani speaks with founders, CEOs, investors, and experts to uncover origin stories, company missions, and the challenges of bringing ambitious discoveries to market. Through thoughtful, independent reporting, Raising Biotech examines what it really takes to turn breakthroughs into lasting impact for patients and the industry. For guest or sponsor pitches, please get in touch with Surani Fernando on LinkedIn or email raisingbiotech@gmail.com.Surani Fernando Biological Sciences Economics Science
Episodes
  • S4, E4: The Weight of the Moment: How GLP-1s are Rewiring Biotech Investing, Expert Analysis

    S4, E4: The Weight of the Moment: How GLP-1s are Rewiring Biotech Investing, Expert Analysis
    Apr 1 2026
    In this episode, Surani takes a deep dive with experts into biotechs hottest new hype cycle -- GLP-1s. Over the past couple years, biotech investing has felt like it’s entering a new gravitational field, with GLP-1s at the center. Once a niche diabetes therapy, these drugs have evolved into a commercial juggernaut, hailed as everything from a “blockbuster weight loss pill” to a potential “longevity drug.” With Novo Nordisk and Eli Lilly raking in a combined $70 billion from GLP-1s in 2025 alone, the capital markets are responding in kind: mega Series A/B rounds, billion-dollar M&A deals, and a stampede of new startups chasing metabolic targets. But this momentum raises deeper questions, not just about science or market opportunity, but about what gets funded, what gets sidelined, and what kind of biotech future we’re building. In this episode, Surani traces the scientific and regulatory journey of GLP-1s -- From the Gila monster venom to global market domination -- and unpacks what this class of drugs tells us about the current state of biotech investing. She’s joined by three guests offering different vantage points: Jakob Dupont, Executive Partner at Sofinnova, Stephanie Sirota, Chief Business Officer at RTW Investments, and William Ho, CEO of In8bio and former investor and analyst covering GLP-1s. Together, they explore the promise and perils of capital clustering, how investors frame GLP-1s beyond weight loss, and what happens when you’re trying to raise money outside the hype. This is not just a story about one drug class, it’s a story about biotech’s risk tolerance, its blind spots, and the tension between commercial gravity and scientific breadth. Timestamps: 00:00 — Opening: The GLP-1 money trail and biotech’s new center of gravity 03:00 — What are GLP-1s and where did they come from? The Gila monster origin story 04:30 — From Byetta to Ozempic: early setbacks, FDA hurdles, and Novo Nordisk’s breakthrough 12:00 — The new investor wave: GLP-1s as de-risked, commercial mega-hits 16:30 — Beyond weight loss: The expanding promise of GLP-1s in other indications and longevity measures 20:00 — The muscle loss problem and the next wave of combo drugs 23:00 — William Ho on hype cycles and long-term unknowns 27:00 — Raising outside the magnet: the challenges for complex biotech 30:30 — Final reflections: the double-edged success of GLP-1s For any comments, questions or feedback you can connect directly with ⁠⁠Surani Fernando⁠⁠ on LinkedIn or email: raisingbiotech@gmail.com Title music composed by: Yrii Semchyshyn (Coma Media)
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    34 mins
  • S4, E3: Inside Opus Genetics’ Pivot – Skepticism, Proxy Fights and a Comeback, with CEO George Magrath

    S4, E3: Inside Opus Genetics’ Pivot – Skepticism, Proxy Fights and a Comeback, with CEO George Magrath
    Mar 4 2026
    In this episode, Surani speaks with George Magrath, CEO of Opus Genetics, about the realities of leading a public biotech company through a major strategic pivot and intense market scrutiny. Opus Genetics emerged from a 2024 reverse merger between Nasdaq-listed Ocuphire Pharma and a private gene therapy company focused on inherited retinal diseases. What followed was a turbulent stretch for the company, including investor skepticism, a proxy fight led by Ocuphire’s original founder, and a stock price that fell below $1. George discusses his background as an ophthalmologist turned biotech executive, how he first encountered Opus while overseeing ophthalmology trials at Lexitas, and why he ultimately pursued the merger. The conversation also explores the company’s gene therapy pipeline targeting LCA5 and bestrophinopathies, the role of patient advocacy in ultra-rare disease development, and what it takes to advance clinical programs while navigating the pressures of the public markets. The company has a current market cap of $306 million, share price $4.45 (4 March 2026). Timestamps 00:00 — Introduction 03:00 — George Magrath’s unusual path from surgeon to biotech CEO 05:15 — First exposure to Opus during clinical trials at Lexitas 06:40 — The reverse merger with Ocuphire and strategic shift into gene therapy 09:40 — The March 2025 financing and investor skepticism 11:20 — The proxy fight led by Ocuphire founder Mina Sooch 12:40 — Gene therapy hype cycles and investor sentiment 16:00 — Patient advocacy, ultra-rare disease, and the Lindsey Rambo story 26:30 — What comes next for Opus: pipeline expansion and future vision For any comments, questions or feedback you can connect directly with ⁠⁠Surani Fernando⁠⁠ on LinkedIn or email: raisingbiotech@gmail.com Title music composed by: Yrii Semchyshyn (Coma Media)
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    29 mins
  • S4, E2: From Medicine to IPOs - Dr Sheila Gujrathi on Raising Biotech Against the Odds

    S4, E2: From Medicine to IPOs - Dr Sheila Gujrathi on Raising Biotech Against the Odds
    Feb 4 2026
    In this episode, we focus on the personal journey of Sheila Gujrathi, a physician turned biotech builder whose career spans medicine, big pharma, rapid IPOs, and billion dollar exits. We explore what it takes to raise biotech across cycles, from early clinical development to public markets, and how Sheila navigated building companies while operating in environments where she was rarely the default. Surani speaks with Sheila about growing up as the child of Indian immigrant physicians, making unconventional career decisions, and learning to balance patients, capital, and leadership under pressure. They discuss her time at Genentech and Bristol Myers Squibb, her role in scaling Receptos through IPO and a $7.2 billion acquisition, the founding and listing of Gossamer Bio, and how those experiences shaped her perspective on leadership and led to her writing The Mirror Effect. 00:00: Introduction 01:45: Growing up as the child of Indian immigrant physicians and early expectations around medicine 04:50: Loss, identity, and the year in India that helped shape a personal North Star going into Medical School 10:30: Leaving clinical medicine and stepping into consulting and industry 15:45: Joining Receptos, building from the ground up, and the road to IPO and acquisition 22:50: Founding Gossamer Bio, raising private capital, and going public in just over a year 30:10: Reflection, writing The Mirror Effect, and building pathways for the next generation For more on Sheila's Book, click here For any comments, questions or feedback you can connect directly with ⁠⁠⁠Surani Fernando⁠⁠⁠ on LinkedIn or email: raisingbiotech@gmail.com Title music composed by: Yrii Semchyshyn (Coma Media)
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    33 mins
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