Biotech investor at Ackermans & van Haaren. All-round biotech nerd.
Joined December 2015
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Was Sjögren's disease ~18% of the $ARGX thesis? Is the value of a phase 3 SjD program $ 8bn? Disappointing and surprising outcome nonetheless.
Great summary of accelerated approval pathways: "Everyone benefits from high flux"
5/ There are many recent AAs with confirmatory trials running right now: dordaviprone in DIPG, Dato-DXd in EGFRmut NSCLC, RP1 in melanoma. Some will make it, some won't. Either way we'll find out, and soon.
Accelerated approval can be a drug flux machine. More drugs in, more drugs out - either approved or pulled. Everyone benefits from high flux.
@RuxandraTeslo @adamfeuerstein @AlecStapp @matthewherper @ZacharyBrennan @DrMarcSiegel @ASCOPost @AACR @nyulangone @Perlmutter_CC
Lenny Van Steenhuyse retweeted
Biotech M&A is broken. The historical playbook was simple: a startup creates an incredible asset, and a multinational pharma company (MNC) swallows them whole to run the commercial launch. But the top-tier biotechs are now refusing to be acquired—and they are poaching Big Pharma's crown jewels to build their own global empires.
Earlier this year, Merck ($MRK) offered a massive $32B to acquire Revolution Medicines ($RVMD) for their pan-RAS oncology pipeline. Revolution flatly rejected the buyout.
Now, the story gets wild. Not only did Revolution refuse the acquisition, but they just poached Thomas Lampron—Merck’s Global VP of Oncology Marketing and one of the core architects behind Keytruda’s historic commercial scale-up.
The move signals that the pan-RAS field is officially transitioning from an early-stage science story into aggressive commercial execution. At ASCO 2026, Revolution's lead asset daraxonrasib demonstrated a median Overall Survival (mOS) of 13.2 months vs 6.7 months for chemotherapy in pancreatic cancer—effectively doubling survival in a historical regulatory graveyard.
Instead of passing the baton to an MNC, Revolution is keeping the economics and assembling a heavy-hitting commercial team to launch daraxonrasib independently. For Merck, losing the acquisition target was a strategic setback; losing their elite oncology marketing talent to that same target is a brutal validation of changing power dynamics.
This is the pipeline to watch. 🧵
$RVMD $MRK $AMGN $BMY $XBI $IBB
The insistence on absurd and public flattery for the leader is a hallmark of authoritarianism. This kind of enforced sycophancy is not just ridiculous - it is dangerous. ft.com/content/4052d80c-b09a… via @ft
LIFE’S CERTAINTIES:
Roses are red
Eric Tokat has a mission
Centerview partners
Acted as financial advisor to this acquisition
JUST IN: We’ve signed a definitive agreement to acquire @capstantx, underscoring our commitment to drive scientific innovation and transform patient care in #immunology. Learn more: bit.ly/3GpUyVn
Is this $ARGX starting to be valued as a pharma company rather than a development biotech? Are investors now looking at EPS & PE multiples rather than pipeline promise?
In any case, it's a momentous occasion to see them transition into profitability, what a behemoth of a company
$LBPH fun fact on Longboard M&A: Lundbeck CEO Charl van Zyl was previously EVP neurology at UCB when they bought Zogenix for Fintepla, the very molecule bexicaserin is trying to improve on.
While many people focus on the set of FRa ADCs with today's acquisition of ProfoundBio by $GMAB, I would argue raludotatug deruxtecan is another formidable competitor in the ovarian cancer field.
We’re committed to advancing research in #ovariancancer. Today, we announced the initiation of a Phase 2/3 trial for the treatment of platinum-resistant ovarian cancer in collaboration with @DaiichiSankyoUS. Learn more: merck.us/3PMqogA
$GMAB swinging for the fences this morning. Great to see European big biotech dip its toes in meaningful M&A. $ 1.8bn sure is a significant ticket for a phase I/II FRa ADC, one of the most crowded targets around.
Breaking #News: Genmab to broaden and strengthen its #oncology portfolio with the proposed acquisition of ProfoundBio, a biotechnology company focused on the development of novel #AntibodyDrugConjugate therapies.
Learn more at: gmab.ly/HIsX50R7akt
Lenny Van Steenhuyse retweeted
Breaking #News: Genmab to broaden and strengthen its #oncology portfolio with the proposed acquisition of ProfoundBio, a biotechnology company focused on the development of novel #AntibodyDrugConjugate therapies.
Learn more at: gmab.ly/HIsX50R7akt
Another great ADC in ovarian cancer, another great ADC by Daiichi. Tough tox profile, likely driven by high dose 8mg/kg excluded for further exploration #ESMO23
Daiichi follows up with another monster ADC deal, now with Merck after doing the first batch with AstraZeneca. Pressure of next gen ADC tech has increased though.
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The Baker Bros / Seagen story remains mesmerizing to me. $SGEN represents 47% of the BB portfolio, as these guys get ready for a $10bn pay day from Pfizer's acquisition. How do you redeploy $ 10bn within biotech?!
Anyone on biotwitter with an informed opinion on $ZLAB and its current valuation? Curious on how to make the numbers work here. Simply a bad case of China/governmental-overhang?
Close to $ 100m in non-dilutive cash for platform access for Bicycle this year. Novartis & Bayer are the 2 parties really putting effort in radiopharmaceuticals, now both entangled with $BCYC
$BCYC and Bayer Strategic Collaboration for Development of Novel Targeted Radionuclide Therapies in Oncology.
Bicycle Therapeutics to receive upfront payment of $45M
Lenny Van Steenhuyse retweeted
$BCYC and Bayer Strategic Collaboration for Development of Novel Targeted Radionuclide Therapies in Oncology.
Bicycle Therapeutics to receive upfront payment of $45M