-Youtube: youtu.be/ERpHbLU826A -Spotify: open.spotify.com/episode/5MA… -Apple: podcasts.apple.com/us/podcas… While Europe’s life sciences mega-funds such as Forbion and Jeito are amazing successes, they can make it harder for smaller players to raise. “It's really about democratizing and making sure that the supply of institutional money is there to feed the industry.” From one to ten, Regina rates the biotech market hotness highly: “The rare-disease segment we like is red hot — a ten — and the industry on average: I'd say seven.” While company creation specialists can spray and pray for a major hit like Moderna for mega returns, the picture is different for those investing at Series A and B levels. “You cannot do that. The tickets are getting too big.”

EPISODE: Regina spent 15 years building Wellington Partners. She then joined Angelini Ventures in 2025, and now has almost €500M under management. Sponsored by Avance Life Sciences: bit.ly/flot-avance Full episode is linked below.

The 35 hottest biotech startups to watch in Europe right now 🚀 Sponsored by Kadans: bit.ly/kadans-startups-map Access the data for free: map.flot.bio/

Discover the best biotech companies in 🇪🇺 with the FlotBio Map at bit.ly/4nXmKjN With its first Teva-partnered product Uzedy a “huge commercial success,” MedinCell and Teva are days from the potential approval of the second, a long-acting injection of the schizophrenia medication olanzapine. “It's often called the jewel of the crown." Eli Lilly already tried and failed to commercialise olanzapine in this form, and "the only people who've solved this problem are a bunch of crazy people in the south of France." 🤪 While pharma sees the most prestige in drug development, Christophe says drug delivery is just as critical. “We're seeing a shift in schizophrenia because of how well the current long-acting injectables are doing." You can now watch and listen to the full episode for free: -Youtube: youtu.be/v_8Y6mt8fRk -Spotify: open.spotify.com/episode/5yq… -Apple: podcasts.apple.com/us/podcas…

EPISODE: @christophedouat joined @MedinCell in 2009 with just 8 people. Today, it's worth close to $1B, and still growing. ($MEDCL) Full episode is linked below.

Just recorded with Christophe Douat, the CEO of @MedinCell $MEDCL, in Montpellier 🎙️☀️🇫🇷 great story, both personal and the biotech. Out next week!

I didn’t think there were that many! And yes, yesterday’s fresh radiopharma deal, Telix’s acquisition of ITM, already made it into the top 10. Worth noting: CureVac’s acquisition by BioNTech is #11 at $1.3B (1.25…) in cash. Prefer to listen? Podcast episodes available with the CXOs of Verona, Tubulis, AtaiBeckley, Myricx on your preferred platforms for free 🎧 What do you think? What acquisitions struck you most?

There have been 19 $1B+ (incl. milestones/biobucks) biotech acquisitions in Europe since 2023. Here’re the top 10 💸 $GMAB $NVS $TLX Access more European biotech data for free: map.flot.bio/

3 trends that stood out to me, plus some global context: 1. The top 20 raised $4.34B: $3.56B private (15 deals), $774M public (5 deals). Isomorphic Labs ($2.1B) distorts everything though. 2. By stage: Pre-clinical 4 rounds, $2.36B (only $257M without Isomorphic). Phase 1: 7 rounds, $662M. Phase 2: 6 rounds, $1.06B. Phase 3: 2 rounds, $175M. Commercial: 1 round, $85M. 3. Globally: $28.0B raised across 171 rounds. Europe took $4.2B, about 15%, though nearly half of that is Isomorphic alone. Without it, Europe's share drops to roughly 7-8%. The takeaway: outside one giant AI bet, European investors are concentrating on de-risked clinical assets, with Phase 1 and 2 rounds taking over half the money. And Europe's real weight in global biotech is around average (~7-10%), matching the 7% reported recently by the European Life Sciences Coalition co-founded by Forbion (which btw, I discussed with Forbion's boss on a recent podcast episode).

Half-time, Europe 🇪🇺🇬🇧🇨🇭! Here are the most important funding rounds (private and public) of the first half of the year. Includes $COAG $AGMB $NBTX $NANO $PRQR $ALSEN Trends and global context below 🧵 Access the data for free: map.flot.bio/

Discover the best biotech companies in 🇪🇺 with the FlotBio Map at bit.ly/4nXmKjN We talk about how GLP-1 drugs, prescribed for diabetes and weight loss, demonstrate the massive potential of consumer demand in biotech and pharma. “Eli Lilly became a trillion dollar company for the first time because of weight loss, and now all the biotech and pharma industry is waking up.” “There is a lot of money in vanity and consumer biotech.” While artificial intelligence (AI) will hugely speed up preclinical drug development, it will have less impact on clinical development, he predicts. "There are a lot of people who believe: ‘Wow, from finding a drug till approval: it's now just a year!' Obviously that's not going to happen." Christian also reveals his health ‘hacks’ like cutting alcohol intake and never using alarm clocks in spite of a society that glorifies sleep deprivation. To anyone bragging about taking an all-nighter to complete a deal, he responds: "Practically, your IQ is as if you were super drunk. Go home and sleep." You can now watch and listen to the full episode for free: -Youtube: youtu.be/9-nL4BPGSH0 -Spotify: open.spotify.com/episode/4PO… -Apple: podcasts.apple.com/us/podcas…

What do you think about the selection? Did you try the webapp? Any feedback? 🤓

Raising money? Curious? Here’re the 50 best biotech venture, growth, corporate, and evergreen funds in Europe 🇪🇺🇬🇧🇨🇭🇳🇴🤑 ____ Presented by Avance. How to prepare your biotech for VC investment: bit.ly/avance-whitepaper ____ Want to play with the list and access more data points such as fund size, asset under management or portfolio size? You can access the data for free in our webapp: map.flot.bio/c/top-50-biotec…

This episode is sponsored by Kadans. Learn more about Kadans’ Oncology Clusters: bit.ly/kadans-oncology We started by discussing the highlights from ASCO 2026, the largest oncology event in the world, which happened last week. We expanded on oncology as a whole. Pierre then shared an important experience from the process, one that might shock many people: “Raise as much cash as possible when you can, and ignore valuation. If you have a delta of 15–20% on valuation when you have a transaction of a billion — honestly, you don't care." Lastly, we looked at French Biotech and how France’s biotech investment capacity has grown in the past decades. "There is great science in France,” and for many years, investors didn't have the muscle to support it. However, “the funds are now much stronger," with Jeito’s recent €1B fund as a strong example. You can now watch and listen to the full episode for free: Youtube: youtu.be/RRcXk5yHcYE Spotify: open.spotify.com/episode/5HU… Apple: podcasts.apple.com/us/podcas…

EPISODE: Pierre took the reins at ImCheck in 2016 after inception. End of last year, it was one of the largest acquisitions in French Biotech ever ($400M upfront by Ipsen)! $IPN Full episode is linked below.

MAP: Today, we're launching the Pro plan of our map on the EU biotech world, with powerful new features to help you discover and act on the best European biotechs. Special deal below 👀👇 With Pro, you get access to additional data points across 200+ companies: essentially all the best public and private therapeutics biotechs in Europe. This includes: clinical stage and therapeutic areas. You can also filter by these data points. For example, you can instantly find all private oncology biotechs in Phase 1. Pro also removes ads, which help fund the free version. The free version remains available to everyone and still includes around 80% of the features. Lastly, you'll also get early access to new features and help support the development of a better biotech database for Europe. Pricing: • €49/month billed annually • €99/month billed monthly • 7 day free trial As a follower, you can use the code FLOT20 for 20% off. Valid until June 26. Try it out now at map.flot.bio/ Happy mapping, and please let me know if you have any feedback 🤓

"We started a long-term collaboration a long time ago… Step by step they moved to 20% — and then to this final acquisition." The biosafety specialist sees a lot of potential for CMC in a consolidating CRO space. "Pharma is still heavily outsourcing… Capacity is not sufficient anymore — it's a lot about expertise and specification." We talked about the increasing traction of cell and gene therapy and how France must can help biotech startups become global champions. He firmly sees animal testing in CMC becoming a thing of the past in the coming decades, especially with technology like NGS, organoids, and AI. "This is an area which is going to transform very rapidly." For transparency, this episode has been sponsored by PathoQuest. You can now watch and listen to the full episode for free: -Youtube: youtu.be/udKeJpF5v9k -Spotify: open.spotify.com/episode/7hW… -Apple: podcasts.apple.com/us/podcas…

EPISODE: 🇫🇷 Paris-based PathoQuest was spun out of Institut Pasteur in 2010. This year, CEO Jean‑François landed a $70M sale to top CRO Charles River. $CRL Full episode is linked below.