Massive Bio CEO Selin Kurnaz is Featured in the Wall Street Journal
Massive Bio CEO and Co-Founder Selin Kurnaz, PhD, was featured in an article about current venture funding challenges facing the biotech industry that appeared in the Wall Street Journal in December. The article, by Journal reporter Brian Gormley, noted that by mid-December of last year, U.S. biotech companies had received $29.7 billion in funding, down from the record high of $38.7 billion in 2021. Yet even as funding became more difficult for companies to secure, Massive Bio has obtained $23.3 million in venture capital, Kurnaz told the Journal. She added that the company is now seeking $50 million in new funding to finance new programs, including one that matches patients to drugs. Kurnaz said she was optimistic, overall, because venture firms have money to invest and that, as a revenue-generating company, Massive Bio has market traction. Yet she also expressed concern that venture firms will try to take advantage of their current position. “We are a real company, not a story company on a PowerPoint,” Kurnaz told the Journal. “Are you going to be able to evaluate me fairly? If the answer is yes, I will work with you.”
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