Biotech's New Rules: Tight Capital, Hard Science, AI, and Survival in 2026

Doug Crawford, Ph.D., is the founder of MBC BioLabs and also a Managing General Partner of Mission BioCapital. Doug's goal is to help entrepreneurial scientists create successful startups. His dream is that every entrepreneurial scientist with a dream be given a chance.  Since its founding, this program has helped launch 500 companies and helped raise over $20 billion in capital. Robert Blazej, Ph.D., is a Partner at Mission BioCapital and Director at MBC BioLabs. He is a passionate biotechnologist with a diverse skillset spanning business, life science, engineering and intellectual property. Robert Blazej brings 10 years of operational experience both as a successful entrepreneur and as a leader within an international corporation. Previously, Robert was CEO of Allopartis Biotechnologies, a company he co-founded with the vision that microdroplets would transform the scale and pace of life science research. Allopartis was acquired by Novozymes in 2013. This conversation can be considered as the 2026 State of the Union for early-stage biotech. The biotech landscape has shifted drastically- we moved from the grow-at-all-costs zero-interest-rate era to a world of tight capital and high discipline. The undisputed capital of biotech in Boston is facing unprecedented lab vacancies. AI is dominating every pitch deck. And China has rapidly evolved from a manufacturing hub into a multi-billion-dollar discovery engine.   Shownotes https://mbcbiolabs.com/; https://www.missionbaycapital.com/ How did Doug and Robert meet? Progress Mission Biolabs made in the past 4 years God's eye view of the biotech startup world- What is being built? DNA of the founders: repeat founders on the rise Capital restraints and advances in science made the current period the best time to launch biotech startups. With the advent of AI, we should not be making knowable mistakes Companies are using AI to jumpstart what they are going to work on Discovery costs are the overall cost of drug discovery- So, don't get too excited! How to address reduction in NIH non-dilutive funding ⅓ of startups in incubators are serial entrepreneurs; ⅓ are mid-career scientists from established companies  Comparing Boston and the Bay area biotech ecosystems 73% of pharma's revenues are from discoveries sourced externally Alternate models: Arena bioworks, Arc Institute, Chan Zuckerberg institute Book recommendation - Thinking in Bets Actual impact of AI at Mission Biolabs Where Ai might have the most impact- healthcare delivery? China affairs: Regulatory changes, investments, return of talent European biotech affairs