Joško Bobanović (Sofinnova Partners): The VC Playbook for Industrial Biotech

Joško Bobanović (Sofinnova Partners): The VC Playbook for Industrial Biotech

Author: Hugo Rauch January 23, 2026 Duration: 54:08

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🌊 A VC Playbook for Industrial Biotech

What it really takes to turn great biology into scalable, venture-backable companies.

We’re joined by Joško Bobanović, Partner in Industrial Biotech at Sofinnova Partners, one of Europe’s most experienced investors at the intersection of biology, industry, and climate.

In this episode, we dive into how industrial biotech companies are really built, from lab-grade science to full-scale production, and unpack what it takes to turn ambitious biology into durable businesses.

Joško has been investing in this space since long before “climate tech” was fashionable. His perspective is shaped by scars, cycles, and decades of pattern recognition.

In our conversation, we covered:

→ What industrial biotech actually means

→ Why generalist VCs struggle without deep technical partners

→ The difference between great science and venture-scale companies

→ Platforms vs. product companies, and why too many choices can kill startups

→ Why IP strategy and freedom to operate are often underestimated

→ How teams must evolve from scientists to industrial operators

→ Why exits in industrial biotech still skew toward IPOs, not M&A

This is a masterclass in how long-cycle climate technologies really scale, and why patience, specialization, and realism matter more than hype.



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Hugo Rauch hosts New Wave, a podcast that lives at the intersection of business ambition and scientific reality. This isn't about distant predictions or abstract science; it's a grounded exploration of the technologies and companies being built right now to address our environmental future. Each episode focuses on the practical journey, dissecting the models, the breakthroughs, and the hard decisions that define the climate tech landscape. You'll hear from founders, researchers, and investors who are actively shaping this space, getting into the specifics of what works, what doesn't, and why. The conversations move beyond hype to examine the tangible mechanics of creating viable solutions, from energy storage and sustainable materials to carbon removal and regenerative agriculture. It’s for anyone who thinks about the climate challenge not just as a crisis, but as a complex and urgent field of innovation. By tuning into this podcast, you gain a clearer understanding of the economic forces and scientific principles driving the next generation of environmental solutions. New Wave connects the dots between the lab, the boardroom, and the impact we need to see in the world, offering a sober yet optimistic look at where substantive progress is truly being made.
Author: Language: English Episodes: 91

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