In a biotech landscape dominated by hype and volatility, the Baker Brothers have emerged as paragons of long-term thinking, deep diligence, and quiet conviction. As Edwin Moses shares in his revealing interview, the Baker Brothers aren’t just wealthy investors—they are architects of some of biotech’s most successful plays. Their methods are unconventional. Their influence? Massive.
Let’s explore the key insights—and quotes—from the video that illuminate what makes the Baker Brothers so formidable.
Here it is in video format if you prefer to watch:
🔍 “They don’t even put their name in the press release.”
In a world of self-promotion, the Baker Brothers choose anonymity. As host Philip Hemme jokes:
“They’re so secretive that they don’t even put their name in the press release. It’s always ‘a significant healthcare investor.’”
This is not just modesty—it’s strategy. It allows them to operate without distraction, focusing on what matters: the science, the people, and the long game.
Their approach ranks them among the most disciplined and secretive biotech investors in the world.
🧠 “They would come quite often with 8 or 10 people… all very expert, deep science.”
Moses paints a picture of intimidating intellectual firepower:
“You’d go into the room… and they’d be asking, ‘What is the color of the eyes of the patient in this trial?’”
It’s not just diligence—it’s a form of deep, surgical preparation that puts most investors to shame. Before they invest, the Baker Brothers will have already spoken to key opinion leaders (KOLs) and domain experts. They bring questions that CEOs aren’t used to hearing.
The Baker Brothers’ due diligence process is an industry benchmark for rigorous scientific vetting.
🕰️ “They’re very loyal. They take a considerable amount of time.”
Moses notes that the Baker Brothers don’t chase quick returns:
“Once they’re convinced… they go all in. They are very loyal to the company and the CEO once they buy in.”
This patient capital is exceedingly rare, especially in the high-stakes world of drug development. It’s a sharp contrast to investors who flip in and out based on quarterly results.
Their long-term biotech investment philosophy is a cornerstone of their success.
💬 “No, no, you fix the price to whatever you think is right, Edwin. We are back there.”
When pricing a NASDAQ flotation, most investors pressured Moses to lower the price. But not the Baker Brothers:
“They didn’t try to screw the company… they were focused on building the company properly.”
This quote shows how alignment with founders and respect for long-term value can lead to better outcomes than short-term negotiation wins.
🏛️ “They don’t need anybody else to tell them whether this is a good idea.”
Unlike some firms that wait for co-investors to validate deals, the Baker Brothers are confident in their assessments:
“They will evaluate whether the technology’s good or not and make the call.”
This independent thinking enables them to act quickly on conviction without waiting for consensus—an edge in a competitive field.
The Baker Brothers exemplify conviction-driven biotech investing, grounded in independent scientific rigor.
🌱 Final Thought: Are We Valuing the Right Kind of Investor?
“You need people like that… who are going to be with you.”
This is the crux. In a biotech ecosystem that often prizes flashy partnerships and media coverage, the Baker Brothers represent a different ideal:
- Deep preparation over quick due diligence
- Trust over transactional relationships
- Patience over short-term exits
Their impact isn’t just financial—it’s cultural. They raise the bar for what it means to be a truly great investor.
🧠 Key Takeaways for Founders and Investors Alike
- Founders: Seek investors who challenge you, support you, and stick with you.
- Investors: Build expertise, think long-term, and let your results speak louder than your branding.
Everyone: The best strategy might just be the quietest one and long-term focus.
Check out the full interview with Edwin Moses, where we discuss how he feels five years after his exit from Ablynx and the lessons he has learned. We also explore the parallels between industrial biotech, AI bio, and cell therapy, and how a chairman can help CEOs grow.
