Elliot Hershberg, venture partner at Amplify, addresses US regulatory policy and geopolitical restrictions surrounding American and Chinese biotechnology transactions.
“I do think that there's some nuance in terms of how we think about regulation for this, right? It's probably not biosecure where you are totally trying to restrict Relationships and transactions between the U S and China, because that's just sort of net negative.”
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More from Elliot Hershberg
Disclosure
Hershberg: Zero Amplify portfolio companies are running first-in-human trials in US
“So we have three companies in the next 12 to 18 months that will be starting first in human trials. You know, guess how many are actually doing their first studies in the United States?”
Elliot HershbergNov 14, 2025▶ 8:28The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
AssertionPartly supported
Hershberg: Clinical trial costs per patient ballooned from $10,000 to $500,000
“So when George Yonkopoulos started Regeneron, it cost about 10,000 dollars per patient in trial. That's ballooned to 500,000 dollars.”
Elliot HershbergNov 14, 2025▶ 45:06The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
AssertionNot yet assessed · timeframe Nov 2025
Hershberg: Clinical research market consolidated into 12 primary providers
“So it actually turns out that there's been this enormous consolidation of the clinical research organization market that's come down to about a dozen providers who have each done roughly 40 acquisitions across 30 years.”
Elliot HershbergNov 14, 2025▶ 9:23The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
AssertionSupported
Hershberg: Biotech startups generate two-thirds of newly approved drugs
“Biotech startups now make two thirds of the drugs that go to market.”
Elliot HershbergNov 14, 2025▶ 15:01The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
Opinion
Hershberg: AI biology platforms where the platform is the product remain compelling
“This is where I'm sort of an unequivocal platform bull still is that I think like one of the most exciting opportunities for AI and biology is this sort of world that we're going to where the platform is the product, right?”
Elliot HershbergNov 14, 2025▶ 32:31The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
AssertionSupported
Hershberg: Public biotech market contains an enormous amount of EV-negative companies
“We have an enormous amount of EV negative public companies.”
Elliot HershbergNov 14, 2025▶ 0:48The Brutal Truth About Biotech: Why $2B Per Drug Is Killing Innovation
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