If the last few years of financial uncertainty in the biotech sector have made you weary, take a page from history to find some optimism, says Dr. Mathai Mammen, former head of R&D at Johnson & Johnson. In particular, look no further than the market’s recovery from the 2008 economic recession. Following an “overly negative reaction” and market turmoil, the macro environment turned around within a few years as investors became more emboldened by biopharma advances, and a brighter future emerged. “Highly valuable work” thrived in the decade that followed, Mammen said.

“Those that recognized and were on that optimistic side of where things were going, they won in a big way,” said Mammen, who is now CEO of the biotech Parabilis Medicines. “There are some incredibly good companies that just happen to be collateral damage in the current environment. Let's recognize them as such, and let's invest in them now, anticipating that the circumstances change, the environment changes.”

Anticipating a return to growth in the sector — and fostering it — demands a focus on new drugs and modalities rather than “me-too” candidates that add limited, incremental value, Mammen said. Today, we’re featuring a conversation with Mammen about what drives biotech success in a tough environment and how the best “drug hunters” are the ones doing something a little differently than the rest. We’re also taking a look at Biogen’s unlikely entry at the Cannes Lions Festival of Creativity: a comedic, horror-based ad to bring awareness to a rare disease.

Thanks for reading.