Nick Pappas Joins Pappas Capital as…

A few years ago, you couldn’t make it through a biotech investor presentation without hearing about “multiple shots on goal.” But with cash in short supply and exit strategies limited, “tightly-focused” is the new catchphrase of the day. “There’s still room for different business models,” said Sean McCarthy, senior principal at Pappas Ventures. “The question is: What type of biotech can be built today, and where does that next generation of companies come from?” The shift from broad pipelines to single products is one born of economic necessity, both for public and private biotechs.