4D Molecular Therapeutics: https://www.4dmoleculartherapeutics.com - Gene therapy was risky, but Dave took the leap of faith counting on a few things- gene therapy becoming big one day; AAV is going to play a big role; and that the natural forms of AAV were not going to cut it. - 14 years of research in academia before launching the startup - AAV has passed through several boom and bust cycles, and the current timing is great. - Three products in the clinic and more n the way - Disease first approach - Over a billion variants of AAV in the library - One of the most important roles of a CEO is to set the vision and hire great people - Be very careful who you take money from- some do that to sell you off quickly. There is indeed good money and bad money - VCs diversify by investing in multiple startups, while 4DMT diversified internally to succeed - Business development is a nice alternative to straight equity financing - Financing is like painting the Golden Gate bridge. You never stop - Several opportunities to exit, but decided to focus on seeing a therapy to the market rather than make a quick buck - Partnerships bring cash, capabilities and validation. - Developed innovative partnership models, so they didn't lose ownership rights to vectors. Transformative partnership with Pfizer - Reason behind going to IPO instead of raising more VC money - Going to an IPO by itself is not a success. It is just another form of funding to get to your goals.