R&D doesn't pay pharma shareholders. What does? Analyzing how pharma generates shareholder returns.
Read it →Is pharma's job to make medicines or money? And can it do both?
Independent, data-driven research on biopharma's capital markets.
Financial markets are supposed to channel capital toward productive work, and reward the investors who fund it.
We study whether they do in biopharma, an industry whose purpose is making medicines that heal people, and one that much of the public distrusts.
Research
Is inventing medicines the best way to make money in biopharma?
Current series
Did biotech IPOs deliver the value investors paid for?
Does pharma overpay when it buys biotech companies?
Is there smart money in biotech?
If making money and making medicines are in conflict, then the best way to get drugs to patients may not be through the current system. Both goals may be better served by pulling them apart and working on each directly: better ways to invest in biopharma, and better ways of getting patients the drugs they need.
We don't yet know if they are in conflict, or what to do if they are. If you have ideas, we'd like to hear from you.
Get in touch
Write to us if you think the analysis is wrong or have data that would test it, want to build on these ideas, or are asking the same questions.
Bay Bridge Bio draws on 15 years of experience in biotech finance: investment banking, venture and public-equity investing, and founding a startup. Alongside the research, we advise biopharma companies and investors on valuation, and we're building software tools for biotech investing. If either could help with what you're working on, tell us about it.