Making Medicine

John Stanford kicks off the official relaunch of the Making Medicine Podcast with a deep dive into the "one big beautiful bill" that’s shaking up Washington. From major tax cuts to game-changing reforms like the Orphan Cures Act, this episode covers what’s in—and what’s not—in the sweeping legislation. What’s the real impact on biotech innovation, Medicaid, PBMs, and future drug pricing? John breaks it all down while teasing what’s ahead in upcoming episodes, including Trump’s proposed pharma tariffs and the evolving role of the FDA.

Do you think the Orphan Cures Act goes far enough?
How will these tax and policy shifts impact innovation in rare disease and biotech?

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Timestamps:
0:00 Welcome to Making Medicine
0:18 Podcast relaunch and weekly content
1:00 One big beautiful bill becomes law
1:38 Tax cuts, deficit concerns, and social program impacts
2:55 How the bill affects biotech and venture capital
3:26 Orphan Cures Act and rare disease investment
4:20 Inflation Reduction Act reforms not included
4:40 PBM cuts left out of the bill
5:20 Victory on Most Favored Nations policy
6:24 What “pay for” means in DC speak
6:59 Industry spared from being a “pay for”
7:03 What’s coming next: tariffs, NIH cuts, FDA changes
7:45 Subscribe and stay updated

The path to new medicines is complex enough - policy doesn’t need to make it more difficult. But it does. 

In this episode, Thomas Kaiser, Co-Founder and Chief Scientific Officer Avicenna Biosciences joins the show to share how the Inflation Reduction Act is unintentionally discouraging investment in small-molecule drugs, creating the pill penalty. He explains why this matters not just to biotech founders, but to millions of patients waiting for treatments for conditions like Parkinson’s, MS, and diabetes. 

We also discuss:

• What’s at risk when chronic disease treatments are deprioritized due to poor incentives
• Why policymakers often misunderstand biotech timelines and how that disconnect can block life-saving innovation.
• How North Carolina’s foresight turned it into a biotech innovation hub.

Read Tom’s Op-ed in BioSpace.

The path to new medicines is complex enough - policy doesn’t need to make it more difficult. But it does. 

In this episode, Thomas Kaiser, Co-Founder and Chief Scientific Officer Avicenna Biosciences joins the show to share how the Inflation Reduction Act is unintentionally discouraging investment in small-molecule drugs, creating the pill penalty. He explains why this matters not just to biotech founders, but to millions of patients waiting for treatments for conditions like Parkinson’s, MS, and diabetes. 

We also discuss:

• What’s at risk when chronic disease treatments are deprioritized due to poor incentives.
• Why policymakers often misunderstand biotech timelines and how that disconnect can block life-saving innovation.
• How North Carolina’s foresight turned it into a biotech innovation hub.

Read Tom’s Op-ed in BioSpace.

In this episode of The Making Medicine podcast, John Stanford sits down with Professor Fred Ledley, Director of the Center for Integration of Science and Industry at Bentley University. Professor Ledley shares his journey from medical school to biotech entrepreneurship and academia, highlighting the critical intersection of science and business. The discussion explores the evolution of gene therapy, personalized medicine, and the role of industry in driving medical innovation.

Key Takeaways:

• The integration of science and business is essential for advancing healthcare innovations.
• Gene therapy and personalized medicine have evolved significantly, shaping modern treatments.
• Collaboration between researchers, entrepreneurs, and policymakers accelerates medical progress.

The U.S. healthcare system is a puzzle for many.

To fix it, we need smarter discussions and a deeper understanding of both the industry and the policies that shape it.

In this episode, host John Stanford talks to healthcare policy expert Brian Reid, Principal at Reid Strategic and author of the Cost Curve newsletter, to discuss the challenges of fixing the incentives that have led to a broken healthcare system.

We also discuss:

• How the healthcare debate often overlooks the needs of patients, focusing instead on assigning blame to various system stakeholders.
• The potential consequences price controls could have on pharmaceutical innovation (particularly for small molecules and cancer treatments).
• Why the current healthcare environment discourages companies from investing in long-term R&D, particularly in drug types that primarily benefit the elderly.

Science should lead our policy decisions—not the other way around. 

In this episode, Kirsten Axelson, Senior Policy Lab Advisor at Incubate Coalition, dives deep into the power of small molecule medicines, the promise they hold for the future, and how our current policy landscape may upend their development.  

This conversation focuses on Incubate Policy Lab’s most recent white paper, which sheds light on the crucial role these molecules play not only in innovative drug development, but also in ensuring equitable access to life-saving treatments. 

Listeners will learn: 

• ​​The crucial role small molecules play in modern medicine, especially in treating conditions like cancer and neurological diseases.
• How current policy decisions, such as those in the Inflation Reduction Act, could negatively affect the development and accessibility of small molecule drugs.
• Why small molecule medicines contribute to equitable access to healthcare, especially for underserved populations and in global health contexts.

To learn more about Kirsten’s white paper, please go to incubatecoalition.org 

As part of our inaugural CEO series, we're excited to welcome Sherine Chan, the CEO and Co-Founder of Neuroene Therapeutics.

In this episode, Sherine shares her journey from academia to helming a cutting-edge biotech company. She explores the groundbreaking work her company is pioneering in targeting the powerhouses of cells: mitochondria. Sherine also dives into the influence of the Inflation Reduction Act on the development of small-molecule drugs

We also discuss: 

• Neuroene Therapeutics' ongoing projects.
• The critical role of mitochondrial dysfunction in neurological conditions such as epilepsy, Parkinson's, and mitochondrial disorders.
• Sherine's insights for aspiring entrepreneurs and scientists.

On World IP Day, Kirsten Axelsen, Senior Advisor of the Incubate Policy Lab, joins host John Stanford to announce the newest whitepaper, delve into the myths and realities surrounding IP in the pharmaceutical industry, explore the dynamics of patent regulations, and touch on the contentious discussions around patent thickets and pharmaceutical pricing under new legislative environments like the Inflation Reduction Act.

Join us as we also discuss:

• What to expect out of the Incubate Policy Lab
• The role that venture investment plays in advancing promising science and technology.
• The latest whitepaper that addresses misconceptions about IP
• The implications of IRA policies in weakening the generics industry, potentially disrupting the balance that has historically led to affordable drug pricing post-patent expiration.

Joe Allen, Executive Director of The Bayh-Dole Coalition, was at the forefront of the Bayh-Dole Act back in December 1980, which allowed researchers to own inventions resulting from federally funded research. However, 43 years later, the March-In Rights framework proposed by the Biden administration threatens to weaken America’s innovation. In this episode, Joe delves into the potential implications of this framework on drug pricing, the pipeline, and overall innovation.

Join us as we discuss:

• The significance of the Bayh-Dole Act and intellectual property in transforming how America drives innovation.
• Why public-private partnerships and collaboration in the medical field are key for funding research projects.
• The implications of enacting March-In Rights on the drug development pipeline

Entrepreneurs and start-ups in the biopharmaceutical and biotech space are always at a crossroads. Without extra capital to burn (who has that?), every decision needs to be made with the utmost clarity and data to back it.

Enter Carta, the partner built to help you succeed. Anthony Cimino, Head of Policy at Carta, Holli Heiles Pandol, Policy Counsel at Carta, and Amy Miller, Public Policy Director at Carta, break down the capital strategy your team needs to know about and offer a guide for navigating the policies that affect it.

Join us as we discuss:

• What tax credits you might be missing out on
• The importance of connecting stakeholders, customers, and policymakers
• What investment opportunities might be just under your nose