🧬 Biotech Investing Unlocked: Mindset Shift, Risk, and Founder-First Lessons | Johnny Hu (Part 3/4)

The Biotech Startups Podcast

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21d ago 37:06

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🧬 The Biotech Startups Podcast is powered by Excedr—helping life science startups accelerate R&D and commercialization with founder-friendly equipment leasing. Skip the upfront costs, stay lean, and focus on breakthrough science.

As a TBSP listener, you can get exclusive perks through Excedr’s partner network—special savings, promotions, and more. Explore these offers today: https://www.excedr.com/partners.

"Sometimes you don't know what you don't know. And frankly, this is a journey that's long, and you'll learn a lot of things along the way. A lot of things, it's the first time you'll be doing that thing. Your job as an entrepreneur is to ultimately listen, then decide, and own that decision.”

In this episode, Johnny Hu, Principle at Menlo Ventures, takes us inside his journey from scientist to venture capitalist, revealing how adapting to new mindsets, operational discipline, and calculated risk-taking are crucial in biotech. He breaks down the differences between the lab and the investment world, shares lessons from mentors at Omega Funds, and explains how founder-first investing and clear communication drive his approach at Menlo Ventures.

Johnny also explores the challenges of fundraising, the realities of board dynamics, and how AI is reshaping biotech, all while emphasizing the value of curiosity and adaptability in a field defined by complexity and constant change.

Key topics covered:

Navigating the transition from scientist to venture capitalist: Adapting to new mindsets
The importance of operational discipline, capital efficiency, and decision-making in biotech startups: Stretching every dollar
Lessons learned from mentors and experiences at Omega Funds: Start with the end in mind
The value of founder-first investing and building intentional, transparent relationships with entrepreneurs: Build trust and clarity
The impact of AI and technological innovation on biotech, and the unique challenges of risk assessment in life sciences: Managing risk in complex systems

If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.

Subscribe to the Podcast:

Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994

Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4

Youtube: https://www.youtube.com/@thebiotechstartupspodcast

Website: https://www.thebiotechstartupspodcast.com/

Find our guest, Johnny Hu, at these links:

LinkedIn: https://www.linkedin.com/in/johnnyhhu/

Website: https://menlovc.com/

Find our host, Jon Chee, at these links:

LinkedIn: https://www.linkedin.com/in/jonchee

Learn more about Excedr:

LinkedIn: https://www.linkedin.com/company/excedr/

Website: https://www.excedr.com

Intro & Outro Songs Created by OkKyojin, Owned by Excedr:

Website: https://flow.page/kyojin

Resources & Articles:

The Odd Lots Podcast: https://podcasts.apple.com/ph/podcast/odd-lots/id1056200096

Protein Data Bank: https://en.wikipedia.org/wiki/Protein_Data_Bank

AlphaFold: https://alphafold.ebi.ac.uk/

Human Genome Project: https://en.wikipedia.org/wiki/Human_Genome_Project

Janelia Research Campus: https://www.janelia.org/

CRISPR and Genome Engineering: https://en.wikipedia.org/wiki/CRISPR_gene_editing

Behavioral Economics: https://en.wikipedia.org/wiki/Behavioral_economics

Companies, Universities, & People mentioned:

Menlo Ventures: https://www.menlovc.com/

Genentech: https://www.gene.com/

Gilead Sciences: https://www.gilead.com/

Bio-Rad: https://www.bio-rad.com/

Omega Funds: https://omegafunds.com/

Richard Lim: https://www.linkedin.com/in/richard-j-lim/

Timestamps:

00:00 Intro

01:16 Credit vs VC Mindset: Finding Opportunity in Complexity

07:07 Operational Discipline and Capital Efficiency in Biotech Startups

16:26 Board Dynamics and Decision-Making in Startups

19:23 Challenges of Risk and Complexity in Life Sciences

22:45 AI's Role in Biotech and Investment

25:42 Johnny Hu's Career Path and Mentorship at Omega Funds

28:12 Working Backwards: Strategy and Product-Market Fit

31:25 Risk Management and Personal Tolerance in Venture Investing

35:23 Outro

The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

154 episodes

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