After a powerful recovery in biotech valuations, Josh Golomb, Co-Portfolio Manager of The Biotech Growth Trust plc (LON:BIOG), explains why he believes the sector’s underlying innovation remained strong even during the downturn — and why improving valuations, increased pharmaceutical M&A and easing regulatory uncertainty have created a markedly different backdrop for investors. He also highlights advances in RAS-targeted cancer therapies, including daraxonrasib, and explains why pancreatic cancer could become one of the most important areas to watch.
Key Moments
00:19 — From engineering to biotech investing — How probabilities, statistics and the Human Genome Project shaped Golomb’s career.
02:16 — Why biotech remains a long-term opportunity — The constant demand for better medicines and the economics behind innovation.
02:47 — HIV treatment transformed — From a fatal diagnosis to long-term disease management and preventative treatment.
04:20 — What drove the Trust’s recent performance — Recovering valuations, pharmaceutical acquisitions and a focus on undervalued biotech companies.
05:43 — Why the sector backdrop has changed — Strong underlying innovation continued despite weak share prices.
06:02 — Regulatory uncertainty begins to ease — Golomb discusses drug pricing, FDA leadership and the regulatory environment.
07:33 — Where the next opportunities are emerging — Why gastrointestinal cancers, particularly pancreatic cancer, are attracting attention.
08:03 — Daraxonrasib and pancreatic cancer — Clinical data showing 13.2 months of overall survival versus 6.7 months with standard chemotherapy.
08:59 — The potential of RAS inhibitors — Earlier treatment, combination therapies and opportunities across pancreatic, lung and colorectal cancers.
The Biotech Growth Trust plc is an investment trust focused on biotechnology companies, seeking to capture long-term growth from advances in drug discovery and medical innovation. Its portfolio is managed by OrbiMed, with investment opportunities identified across established biotechnology businesses and earlier-stage companies developing new therapies.
