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       Home / explore / comprehensive      
           
     
           
      
          comprehensive 
           
      
           
      
           
       2025-10-01 00:34:54 
   
      
           
      
           
                        
          comprehensive  
          
                                   
                 
                                      author：explore   
                                        
                                      
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          Editor’s note: A recording of the event is embedded below.
          After a few go-go years, the early-stage biotech market has cooled considerably. Two VCs will weigh in on what distinguishes great science from bad investments.
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          Featured Speakers
          • Irena Melnikova, Ph.D., partner, Pfizer Ventures
          • Rakhshita Dhar, senior director, venture investments, Leaps by Bayer
          • Frank S. David, M.D., Ph.D., managing director, Pharmagellan (moderator)
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