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The Business of Biotech was back in San Francisco for the J.P. Morgan Healthcare Conference (January 12 - 15) and this week we sit down with Marc Salzberg, M.D., CEO, CMO, and Board Chair at Airway Therapeutics, a company developing a recombinant version of human surfactant protein D for several respiratory, inflammatory, and infectious diseases including bronchopulmonary dysplasia (BPD), which is currently in Phase 2b/3 trials. Brian talks about why he selected BPD as a lead clinical indication (a disease primarily affecting preterm infants), what he learned through founding and selling a CRO, how a private biotech funds a pivotal trial across continents, and offers an industry outlook for 2026.

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On this week's episode of the Business of Biotech, we're speaking with Kenneth Galbraith, CEO and Board Chair at Zymeworks, a biotech developing multispecific therapies internally and through partnerships with companies including Jazz Pharmaceuticals and BeOne Medicines (formerly BeiGene), J&J, Merck, Daiichi Sankyo, and GSK. Ken talks about Zymeworks' shift to a royalty model for development funding and value creation, lessons learned from platform deals and cross-border R&D, the benefits of strong royalty agreements and backloaded milestone payments over headline upfronts, and industry dynamics for the coming year. Ken also shares insights from his deep experiences as a biotech investor and corporate director, and explains why scientific primacy should always drive biotech business decisions.

Access this and hundreds of episodes of the Business of Biotech videocast under the Business of Biotech tab at lifescienceleader.com.

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Get in touch with guest and topic suggestions: ben.comer@lifescienceleader.com

Find Ben Comer on LinkedIn: https://www.linkedin.com/in/bencomer/

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This week's special holiday episode of the Business of Biotech brings seven chief editors from the Life Science Connect family together to talk about the life sciences industry topics, trips, and reporting that mattered most in 2025, and what each editor has planned for 2026. From the RNA, cell, and gene therapy space to small molecule manufacturing, bioprocessing, drug discovery, and outsourcing, the editors weigh in on key industry trends, new developments, and policy surprises from their respective coverage areas. Topics include biotech funding dynamics, FDA leadership, China's growing role, favorite holiday movies, and much, much more. Special thanks to Tyler Menichiello and the Better Biopharma podcast for hosting this roundtable discussion. Happy New Year!

Access this and hundreds of episodes of the Business of Biotech videocast under the Business of Biotech tab at lifescienceleader.com.

Subscribe to our monthly Business of Biotech newsletter.

Get in touch with guest and topic suggestions: ben.comer@lifescienceleader.com

Find Ben Comer on LinkedIn: https://www.linkedin.com/in/bencomer/