Flot.bio x Philip Hemme

When Hervé joined Incyte in 2014, the launch of lead product Jakafi in the US was a little choppy. By the time he left in 2025, he had grown their revenue from $300 million to a whopping $5 billion. We also talk about the bureaucracy of Big Pharma, rare diseases, and why a biotech M&A supercycle isn’t as likely as you might think.
---Discover the best biotech companies in 🇪🇺 with the FlotBio Map. Use discount code FLOT20 before June 26 to get 20% off the pro version at https://bit.ly/4nXmKjN---
⭐️ ABOUT THE SPEAKER
Prior to his time at Incyte, Hervé led the oncology business unit at Novartis and had leading roles at Aventis (now Sanofi). He is currently on the boards of companies including Incyte, Pierre Fabre, and Bicycle Therapeutics.
🔗 LINKS MENTIONED
Pascal Touchon 🇫🇷 | Cell Therapy, Jeito, Kymriah | E49 —https://flot.bio/episode/pascal-touchon-jeito/
Alessandro Riva, Transgene | Cancer Vaccines, Oncolytic Viruses | E50— https://flot.bio/personalized-cancer-vaccine-oncolytic-viruses/
Penn and Novartis CAR-T alliance (2012) — https://penntoday.upenn.edu/news/university-pennsylvania-and-novartis-form-alliance-expand-use-personalized-t-cell-therapy-cance
Incyte and Novartis deal (2009) —https://investor.incyte.com/news-releases/news-release-details/incyte-announces-major-collaboration-and-license-agreement-two
Hoppenot steps down as Incyte CEO (2025) — https://investor.incyte.com/news-releases/news-release-details/incyte-announces-change-its-board-directors
argenx leadership transition (2026) —https://argenx.com/news/2026/press-release-3212418
BioNTech co-founders leadership transition (2026) — https://investors.biontech.de/news-releases/news-release-details/biontech-and-co-founders-announce-plan-pursue-next-generation
Incyte tumbles after combo therapy with Merck fails study (2018) — https://www.reuters.com/article/incyte-study/update-2-incyte-tumbles-after-combo-therapy-with-merck-fails-study-idUSL4N1RJ2HW/
Bristol-Myers Squibb receives accelerated approval of Opdivo (2014) — https://news.bms.com/news/details/2014/Bristol-Myers-Squibb-Receives-Accelerated-Approval-of-Opdivo-nivolumab-from-the-US-Food-and-Drug-Administration/default.aspx
U.S. FDA approves Padcev (2025) https://www.pfizer.com/news/press-release/press-release-detail/us-fda-approves-padcevr-plus-keytrudar-certain-patients
Fabrice Chouraqui, Pharming 🇳🇱 | Transgenic Rabbits, Rare Diseases | E43 — https://flot.bio/episode/fabrice-chouraqui-pharming-transgenic-rabbit/
Isomorphic Labs secures $2.1 billion funding (2026) — https://storage.googleapis.com/isomorphiclabs-website-public-artifacts/ISOMORPHIC_LABS_FUNDING_12-05-26.pdf
📜 TRANSCRIPT
Read the full transcript here: https://flot.bio/episode/herve-hoppenot-incyte-jafaki/
💸 DONATE
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🎙️ ABOUT FLOT.BIO
Flot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.
⏰ TIMESTAMPS
[00:00:00] Intro
[00:02:59] Hervé Hoppenot’s Incyte legacy
[00:12:12] Leadership transitions in Incyte, argenx and BioNTech
[00:13:43] The JAK inhibitor market
[00:19:36] Why forecasting in pharma is so broken
[00:29:17] Investor expectations and the Jakafi cliff 
[00:36:51] Biotechs trading under cash
[00:40:01] Hervé Hoppenot’s European roots
[00:44:40] Big Pharma and bureaucracy
[00:51:58] Quick-fire questions

We admire the mountains of Austria with the co-founder of Curie.Bio, a founder-friendly fund that now manages $1.25B and backs 38 portfolio companies.We discuss Curie.Bio’s track record, with its most advanced portfolio candidate Forward Therapeutics in Phase I.We also talk about major bottom-up successes including argenx, Ascendis and Genmab, and how life sciences investing differs from tech investing.Christoph also explains his ‘rebel’ mindset and why founders shouldn’t accept the status quo.
---This episode is brought to you by Avance, where European biotech turns for trusted financial advice. Learn more at https://bit.ly/flot-avance---
⭐️ ABOUT THE SPEAKER
Christoph co-founded of Curie.Bio in 2022, after serving as Partner at Third Rock Ventures for 6 years. He also had leading roles at Blueprint Medicines for ten years, and at MOMA Therapeutics for one year.He has also been an Adjunct Associate Professor at Johns Hopkins University for more than 20 years, with past roles at Celsius Therapeutics, Sanofi, and Novartis. 🔗 LINKS MENTIONED
Curie.Bio — https://curie.bio/
Christoph Lengauer — https://www.linkedin.com/in/christoph-lengauer-75b7961b/
Sanofi to acquire Blueprint Medicines — https://www.sanofi.com/en/media-room/press-releases/2025/2025-06-02-05-00-00-3091541
Forward Therapeutics Announces $50 Million Series A Financing —https://forward-tx.com/press-release/forward-therapeutics-announces-50-million-series-a-financing/
Gilead to Acquire Tubulis — https://www.gilead.com/news/news-details/2026/gilead-to-acquire-tubulis-adding-potentially-best-in-class-antibody-drug-conjugate-and-next-generation-platform-to-further-strengthen-oncology-pipeline
Dominik Schumacher, Tubulis 🇩🇪 | Founder-led ADC Biotech ⭐️ | E19 — https://flot.bio/episode/dominik-schumacher-tubulis/
Sander Slootweg, Forbion 🇳🇱 | European Biotech Investment, Venture Capital | E56 — https://flot.bio/episode/sander-slootweg-forbion-eu-biotech-investment/
📜 TRANSCRIPT
Read the full transcript here: https://flot.bio/episode/christoph-lengauer-curiebio-biotech-founders/
💸 DONATE
We welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme
⭐️ SPONSORSHIP
Ready to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!
🫶 FOLLOW US
Newsletter: http://eepurl.com/h_fnmH
LinkedIn: https://www.linkedin.com/company/flot-bio/
X (Twitter): https://x.com/FlotBio
🙏 LIKE/FOLLOW/REVIEW
Did you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.
🎙️ ABOUT FLOT.BIO
Flot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.⏰ TIMESTAMPS
[00:00:00] Intro
[00:03:05] Curie.Bio: 38 portfolio companies in just three years
[00:09:29] The four buckets of biotech venture capital
[00:15:42] Why life sciences investing is harder than tech investing
[00:28:28] Searching for European biotech innovation
[00:38:00] Founder-friendly equity shares
[00:55:15] argenx, Genmab and Ascendis: Bottom-up biotech successes
[01:03:37] Blueprint Medicines: From struggle to a $9B sale
[01:09:03] Christoph Lengauer the disruptor
[01:13:37] Quick-fire questions

Forbion celebrates its 20th anniversary this year, with a whopping €5 billion raised so far. Sander marks the occasion by discussing how Forbion plans to promote life sciences investments in Europe via the Life Sciences VC Coalition. We chat about building European biotech champions like Argenx, the thriving Chinese biotech space, and why life should be fun, not only dealflow.

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This episode is brought to you by GeneNovate Investors Day, an invite-only event for scientists, startups, investors, and industry leaders working at the forefront of cell and gene therapies. Learn more: https://bit.ly/flot-genenovate or reach out to [[email protected]](mailto:[email protected])

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⭐️ ABOUT THE SPEAKER

Sander co-founded Forbion in 2006. Prior to co-founding Forbion, Sander co-founded ABN AMRO Capital/Life Sciences in 2000. Sander serves on the boards of NorthSea Therapeutics and Azafaros, with previous board roles at NewAmsterdam Pharma, Replimune and uniQure.

🔗 LINKS MENTIONED

Forbion website — https://forbion.com/
Forbion Joins Newly Launched European Life Sciences Coalition — https://forbion.com/news-insights/news/forbion-joins-newly-launched-european-life-sciences-coalition/
Novartis acquires Gyroscope Therapeutics — https://www.novartis.com/news/media-releases/novartis-acquire-gyroscope-therapeutics-adding-one-time-gene-therapy-could-transform-care-geographic-atrophy-leading-cause-blindness
GSK acquires Aiolos Bio — https://www.gsk.com/en-gb/media/press-releases/gsk-enters-agreement-to-acquire-aiolos-bio/
European Biotech Act — https://health.ec.europa.eu/publications/proposal-regulation-establish-measures-strengthen-unions-biotechnology-and-biomanufacturing-sectors_en
Capital markets union — https://finance.ec.europa.eu/financial-markets/financial-markets-policy/capital-markets-union_en
Gimv discontinues activities for new Life Sciences investments — https://www.gimv.com/en/news/gimv-increases-focus-strategic-objectives-and-discontinues-activities-new-life-sciences
Why the Strait of Hormuz matters so much in the Iran war — https://www.bbc.co.uk/news/articles/c78n6p09pzno
Antoine Papiernik, Sofinnova | Billion Investing with Balance — https://flot.bio/episode/antoine-papiernik-sofinnova-ebillion-biotech-investing-with-balance/
Christina Takke, V-Bio Ventures 🇧🇪 | Wonder VC Woman | E17 — https://flot.bio/episode/christina-takke-v-bio-ventures/
Fabrice Chouraqui, Pharming 🇳🇱 | Transgenic Rabbits, Rare Diseases | E43 — https://flot.bio/episode/fabrice-chouraqui-pharming-transgenic-rabbit/

📜 TRANSCRIPT

Read the full transcript here: https://flot.bio/episode/sander-slootweg-forbion-eu-biotech-investment/

💸 DONATE

We welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme

⭐️ SPONSORSHIP

Ready to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!

🫶 FOLLOW US

Newsletter: http://eepurl.com/h_fnmH
LinkedIn: https://www.linkedin.com/company/flot-bio/
X (Twitter): https://x.com/FlotBio

🙏 LIKE/FOLLOW/REVIEW

🎙️ ABOUT FLOT.BIO

Flot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.

⏰ TIMESTAMPS
[00:00:00] Intro
[00:02:13] Uniting European biotech VCs
[00:09:25] Why European pension funds overlook biotech VCs
[00:17:36] Making European biotech an attractive market
[00:30:24] Forbion’s “special sauce” and company culture
[00:39:31] Sourcing China’s biotech assets from Europe
[00:49:51] European biotech robustness in energy crises
[00:52:19] Learning science as an investor
[00:57:18] Sander Slootweg on skis
[01:00:55] Quick-fire questions

Antibiotic-resistant superbugs could become a greater threat than cancer. Bruno and Pedro at the startup Immunethep explain how they’re tackling the crisis with vaccines.

We discuss how Immunethep could challenge Pfizer’s $7bn+ Prevnar, and how one pharma company got on board after a representative said he doesn’t believe in vaccines!

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For transparency, this episode has been sponsored by Immunethep. Learn more at https://bit.ly/flot-immunethep

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⭐️ ABOUT THE SPEAKERS

Bruno is Immunethep’s co-founder and CEO, and co-founder of the startup creator Venture Catalysts. He also co-founded the tech startup Abyssal, which was acquired by marine robotics company Ocean Infinity in 2021.

Co-founder and CSO Pedro is a biomedical scientist previously serving as an Assistant Researcher at i3S. He has a PhD in Biomedical Sciences from the University of Porto and boasts over 30 peer-reviewed publications.

🔗 LINKS MENTIONED
Immunethep website — https://www.immunethep.com/
When Cancer is no longer the biggest threat: AMR’s growing shadow over oncology — https://www.incate.net/when-cancer-is-no-longer-the-biggest-threat-amrs-growing-shadow-over-oncology/
Antimicrobial resistance WHO page — https://www.who.int/news-room/fact-sheets/detail/antimicrobial-resistance
Center for Global Development: The Economics of Antibiotic Resistance — https://www.cgdev.org/sites/default/files/economics-antibiotic-resistance.pdf
GSK completes Affinivax acquisition — https://www.gsk.com/en-gb/media/press-releases/gsk-completes-acquisition-of-affinivax-inc/
António Portela, BIAL 🇵🇹 | Parkinson’s, Family-Owned Biotech | E54 —https://flot.bio/episode/antonio-portela-bial-parkinsons-biopharma/

📜 TRANSCRIPT

Read the full transcript here: https://flot.bio/episode/immunethep-antimicrobial-resistance/

💸 DONATE

We welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme

⭐️ SPONSORSHIP

Ready to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!

🫶 FOLLOW US
Newsletter: http://eepurl.com/h_fnmH
LinkedIn: https://www.linkedin.com/company/flot-bio/
X (Twitter): https://x.com/FlotBio

🙏 LIKE/FOLLOW/REVIEW

Did you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.

🎙️ ABOUT FLOT.BIO

Flot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.

⏰ TIMESTAMPS

[00:00:00] Intro
[00:02:10] The overlooked antimicrobial resistance crisis
[00:10:26] Immunethep: When Bruno Santos and Pedro Madureira teamed up
[00:15:41] Taking down multiple superbugs with a single vaccine
[00:27:30] Preparing to challenge Pfizer’s $7bn+ Prevnar
[00:42:11] The Portuguese biotech ecosystem
[00:46:10] Bruno Santos’ cross-disciplinary experience
[00:48:09] Not taking ‘no’ for an answer from big pharma
[00:51:44] Immunethep’s IP and tech transfer achievements
[00:55:44] Quick-fire questions

We dive into Bial’s meteoric journey from a small pharmacy in Porto to Portugal’s biggest biopharma company, all while still being 100% family owned.
We cover Bial’s pipeline, including treatments for epilepsy and Parkinson’s, and why Bial’s multigenerational leadership story is nowhere as dramatic as HBO’s “Succession.”

---Avance is where European biotech turns for trusted financial advice. Learn more at https://bit.ly/flot-avance.---

⭐️ ABOUT THE SPEAKER
Prior to leading Bial, António worked at Roche in the UK as a Medical Sales Representative and a Market Analyst. While he worked at Roche, he also launched a Hepatitis C drug.António holds a degree in Economics from the Faculty of Economics at the University of Porto and an Executive MBA from the Porto Business School.

🔗 LINKS MENTIONED
Bial’s website — https://www.bial.com/en
Bial 2024 financials — https://downloads.ctfassets.net/oyx9uzi3vj2y/XTmSUhXd7ggVEnpJLx0Ch/7a22a851246d910c517e064fca4b6968/Consolidated_Management_Report_BIAL_Holding_2024.pdf
Bial launches KYNMOBI in Portugal and Spain — https://bial.com/en/media/news/bial-launches-kynmobi-in-portugal-and-spain
Succession TV show — https://www.imdb.com/title/tt7660850/
BIO-Europe Spring — https://informaconnect.com/bioeurope-spring/

📜 TRANSCRIPT

Read the full transcript here: https://flot.bio/episode/António-Portela-BIAL-parkinsons-biopharma/

💸 DONATE

We welcome donations from individuals and businesses to support our podcast and allow us to create even more content: https://www.paypal.me/PhilipHemme

⭐️ SPONSORSHIP

Ready to amplify your brand to influential leaders in biotech and biopharma? Contact [email protected] and unlock sponsorship opportunities in our podcasts!

🫶 FOLLOW US
Newsletter: http://eepurl.com/h_fnmH
LinkedIn: https://www.linkedin.com/company/flot-bio/
X (Twitter): https://x.com/FlotBio

🙏 LIKE/FOLLOW/REVIEW
Did you enjoy the episode? Please hit the like and subscribe button. Also, please let me know your thoughts in the comments below.

🎙️ ABOUT FLOT.BIO
Flot.bio is a show to watch the best Europeans in biotech to help you grow. Hosted by Philip Hemme. 25k monthly views. Free.

⏰ TIMESTAMPS

[00:00:00] Intro
[00:02:31] Bial’s humble beginnings
[00:05:59] Behind the scenes of the Portela family
[00:12:45] A CNS innovator pipeline
[00:18:42] From small molecules to biologics
[00:21:17] Sourcing Portuguese talent from overseas
[00:24:14] Manufacturing critical for gene therapy
[00:26:21] António Portela’s dynamic leadership
[00:27:38] Quick-fire questions