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Wow, a "more enlightened view of valuations” sounds a bit scary. I hope your founder acquaintance realize that valuation is not all that matters. Accepting more funding from investors that are not that “enlightened” in other matters is a sure way to get in all kinds of trouble.

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I share those same concerns - I think that in biotech the rapid dilution that happens early with professional CEOs bought in early means that there is less interest in building long term value - so short term wins like these can be worth it to founders that expect to be promoted to chief visionary officers. That might be harsh but I have co cerns about the incentives at some of these firms

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