S2E1 Andreas Wallnoefer: Why Most Drugs Fail—and What It Takes to Beat the Odds

In this episode of Let’s Talk About That, Anirvan Ghosh speaks with Andreas Wallnoefer, whose career spans the full arc of drug development—from early clinical research to senior R&D leadership at Roche, and later to venture investing and biotech board roles.Andreas reflects on more than 25 years in big pharma, where he helped shape early translational medicine and confronted one of the field’s enduring challenges: why clinical success rates remain low despite enormous advances in science, biomarkers, and technology. He shares lessons from pioneering early human pharmacology, the importance of truly understanding mechanism of action, and why many drugs fail when commercial priorities override biology.The conversation then turns to Andreas’s transition from Roche to venture capital and company building, including insights from launching and scaling early-stage biotechs. Using the EyeBio story as a case study, he explains why small, focused teams with strong leadership, disciplined decision-making, and aligned investors can often move faster—and succeed more often—than large organizations.Looking ahead, Andreas discusses the types of companies and technologies that excite him today, from gene therapy and neurology to immunology and ophthalmology. Throughout the discussion, a clear theme emerges: breakthrough medicines require not just great science, but courage, persistence, and leaders willing to challenge conventional wisdom.