CURIOUS CASES OF FINANCIAL ENGINEERING IN BIOTECH

Summary from the TLDR newsletter

Finance doesn't really make drug development easier. However, it does make failure more survivable. Financialization is just the process of making implicit economic relationships explicit and tradable. Having more liquid markets for biotech risk is almost certainly better than having fewer. The industry being willing to fund biology that's expensive and likely to fail could result in more discoveries that change the world.