Following the money in biotech startups

What do biotech companies actually do in the aftermath of those ecstatic press releases announcing their latest financings?

In the latest edition of Something Ventured, STAT’s series on fledgling drug developers, the answer involves resetting, rebranding, and making quite a lot of pancakes.

As Kate Sheridan reports, Fog Pharmaceuticals had to navigate some scientific haze, while Casma Therapeutics finally got around to assembling a scientific advisory board, and Macrolide Pharmaceuticals changed its name entirely.

“We’d been working on figuring out what the hell we are, who the hell we are,” CEO Sumit Aggarwal said. “Sometimes, you know you need to make a change.”

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