🧬 Cycles, Conviction & Royalty Capital in Biotech Investing | Stephanie Sirota Rerelease (2/3)

In this episode of The Biotech Startups Podcast, host Jon Chee continues his conversation with Stephanie Sirota, Partner and Head of Strategic Partnerships at RTW Investments, as she reflects on her path from Lehman Brothers investment banking to macro hedge funds and ultimately biotech-focused investing and firm building. Steph shares how journalism training shaped her strategic thinking, what she learned from navigating multiple market crises, and how those lessons inform RTW’s approach to cycles, institutional architecture, and innovative funding models like royalty vehicles in today’s prolonged biotech bear market.