Q&A: Joe Jimenez talks about salvaging ‘stuck’ drugs and why a substance abuse treatment could be worth billions of dollars
20 Oct 2023
For four years, former Novartis CEO Joe Jimenez and his research right-hand, Mark Fishman, have been running Aditum Bio. The Oakland, CA-based venture firm in-licenses drugs on the cusp of human trials and puts them into individual companies that can be sold off if the early-stage results are good.
They’re testing a new approach to biotech investing and drug development with the goal of creating two to three companies each year. With a
$133 million first fund
and a $250 million follow-up, Aditum has formed
10 biotechs so far.
Another two or three are expected to launch before they raise an even bigger third fund, likely next year.
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