Omega Funds founder and managing director Otello Stampacchia isn’t afraid to tell it like he sees it.
Back in 2022, as the biotech industry’s boom was plateauing, the brash venture capitalist told executives at the biotechs he had invested in that they would be “insane” to pursue an initial public offering, or IPO. In a conversation with STAT late last month, he took a dim view of the current roster of biotech VCs and argued investor attitudes have seeded “the destruction of the industry.”
His comments may strike some as impudent or cheeky, but his attitudes toward biotech investing have proven successful. The Italian investor founded Omega Funds in 2003 after stints at various health care investing firms. Omega Funds has now invested in more than 150 companies that have produced 51 products.
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