Molecule to Market: Inside the outsourcing space

The AI entrepreneur fighting against cancer

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Selin Kurnaz,  Co-Founder and CEO at Massive Bio,

 

Your host, Raman Sehgal, discusses the pharmaceutical and biotechnology supply chain with Selin, covering:

 

• How a cancer diagnosis in her family led Selin down a path of accidental entrepreneurship, fundraising, and the application of AI in drug development.
• The major pivots in Massive Bio’s journey that transformed it into a broker of access between patients and pharmaceutical companies.
• Her views on the misallocation of capital in market access enablers versus research and development.
• How gaining traction with advocates inside big pharma helped ensure investors took notice.
• Why the influence of AI on clinical trials and real world evidence will continue to grow as part of the patient journey.

 

Selin Kurnaz graduated from Boğaziçi University in Turkey, where she had a dual major in industrial engineering and mechanical engineering. She then continued her education in the United States, where she obtained two masters degrees and a doctorate in mechanical engineering at the University of Michigan. Following her education, Selin served as an executive consultant on strategy, operations, and company trading for a decade. In 2015, she co-founded Massive Bio.

 

 

Molecule to Market is also sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We’d also appreciate a positive rating!

25+ years as pharma-focused PE fund

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Jim Gale, Founding Partner & Managing Director at Signet.

 

Your host, Raman Sehgal, discusses the pharmaceutical and biotechnology supply chain with Jim, covering:

• The origins of growth equity in private equity and how it led to the founding of Signet, a fund built on deep domain expertise.
• Why private equity is a growing asset category but still remains undervalued and under appreciated.
• How the nature of the companies Signet invests in has evolved over the last twenty five years, while the fundamental principles of building a strong business remain the same.
• How the “picks and shovels” strategy of investing in tools, services and infrastructure has consistently served them well.
• Jim’s assessment criteria when evaluating new opportunities after seventy deals, including the key question… can we institutionalise an entrepreneur led business.
• How higher interest rates and economic uncertainty constrain biopharma and biotech, and how that impacts investment dollars flowing into pharma services, along with deal flow, valuation and structure.

James “Jim” Gale is the Founding Partner and Managing Director of Signet Healthcare Partners, a New York based healthcare growth equity firm specialising in pharmaceutical services, specialty pharma and medical technology. With more than thirty five years of investing and finance experience, Jim has built a deep track record backing companies involved in formulation, development, manufacturing and commercialisation across the world.

 

At Signet, Jim has led investments across the pharma services value chain, including platforms in sterile fill finish, complex formulations, biologics development and specialty generics. His current and recent board roles include Ascendia Pharmaceutical Solutions, NorthX Biologics, RK Pharma, Bionpharma, Chr Olesen Synthesis, Pharma Nobis, Juno Pharmaceuticals and Lee’s Pharmaceutical. He also serves as Chairman of Bionpharma and is a director of Knight Therapeutics.

 

Jim holds an MBA from the University of Chicago Booth School of Business.

 

Molecule to Market is also sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We’d also appreciate a positive rating!

2025 Unwrapped: Top 5 Episodes

As we draw close to the end of 2025, our host Raman Sehgal talks about the top 5 episodes of the year.

 

Molecule to Market is also sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We’d also appreciate a positive rating!

Doctor Entrepreneur who pulled off a $1.4b exit

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Thomas Dobmeyer, medical, entrepreneur and investor at ekwithree.

 

Your host, Raman Sehgal, discusses the pharmaceutical and biotechnology supply chain with Thomas, covering:

• Choosing to freelance and consult as a medic after qualifying in medicine.
• Co-founding a niche regulatory affairs firm and growing it into a 3,000-person multinational pharmaceutical solutions organisation.
• Expanding into new countries, acquisitions, and domains to build scale and credibility in biopharma — with culture as the secret weapon.
• Why lawmakers and regulators became his best salespeople, and how increasing complexity, internationalisation, and market growth ultimately led to a $1.4B exit to Cencora.
• Life after the sale as an active investor and mentor — and the key trends Thomas sees shaping the future of drug development.

Dr. Thomas Dobmeyer is a physician, researcher, and entrepreneur currently serving as a partner at ekwithree GmbH, a growth investment firm specializing in technology-driven B2B service providers. In this role, Thomas plays a key part in driving the organizational success of ekwithree and its diverse portfolio of companies.

 

With over two decades of extensive experience in the pharmaceutical and medical technology industries, Thomas was founder and CEO of PharmaLex GmbH. There, he spearheaded the transformation of a startup consulting boutique into a globally recognized unicorn company operating in 40 countries with 3,500 employees. His strategic expertise was instrumental in shaping and executing the company’s business strategies, overseeing leadership team formation, advising on strategic matters, and ensuring the implementation of robust business plans to achieve corporate objectives. Under his leadership, PharmaLex successfully completed nearly 40 mergers and acquisitions, significantly expanding its global business model and footprint.

 

Molecule to Market is also sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We’d also appreciate a positive rating!

M2M Monitor Special - 2026

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with our host Raman Sehgal. Raman distils dozens of executive conversations across 2025 into three key insights you can take into 2026 for you and your organization. 

 

Molecule to Market is also sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We’d also appreciate a positive rating!

The master building CEO leading Codis

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Nick Fortin, Chief Executive Officer at Codis.

Your host, Raman Sehgal, discusses the pharmaceutical and biotechnology supply chain with Nick, covering:

• Nick’s desire to scratch that entrepreneurial itch, while recognising he was missing a key tool in his toolbox, which led him to pursue a midlife MBA.
• His turnaround role at Neopharma exposed him to major players in the pharma services space, ultimately paving the way to Particle Dynamics (now Codis).
• The major pillars Nick established when he joined Particle Dynamics as CEO, and the company’s transformational journey that led to further investment, a major international acquisition, and the creation of Codis.
• Key lessons on managing multiple investors around the board table — and the critical role of a Chairman.
• Why the bioavailability challenge for many molecules in the pipeline supports continued growth in spray drying.

Nicolas joined Particle Dynamics as President and CEO in 2018. He has almost 30 years of experience in the pharmaceutical industry across multiple leadership roles. Nicolas earned a Bachelor’s degree in Engineering and holds an MBA from McGill and HEC Universities.

Molecule to Market is sponsored by Bora Pharma (boracdmo.com) and Charles River (criver.com), and supported by Lead Candidate. Please subscribe, share with your industry colleagues, and join us in celebrating and promoting the value of the global life sciences outsourcing space. We’d also appreciate a positive rating!

From R&D to CRO CEO

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Dr. Fozia Saleem, Chief Executive Officer at Magnitude Biosciences.

Your host, Raman Sehgal, speaks with Fozia about the pharmaceutical and biotechnology supply chain, including:

• How her early roles shaped her focus on applying science and innovation in a practical way
• The contrast between working in tobacco and vape R&D and traditional pharma research
• How a post-COVID reckoning led her to a CEO role at a university spin-out
• The commercial potential of worms, the WormGazer® technology platform, and why Magnitude Biosciences is far from a cookie-cutter CRO
• Fundraising, tripling the team, doubling lab space, and navigating the life of a scrappy CRO
• How the company is helping clients with novel therapies get better insights earlier and faster amid a tough market environment

Dr. Fozia Saleem is the CEO of Magnitude Biosciences, a leading contract research organisation serving the pharmaceutical, health, and nutrition sectors to better understand the effects of drugs and nutraceuticals on healthy ageing, longevity, and neurodegeneration.

With more than 15 years of experience across the FMCG and pharmaceutical industries — including leadership roles at GSK, BAT, and Broughton — Fozia has led global product launches, driven high-growth commercial strategies, and delivered transformative organisational change.

Beyond her role at Magnitude Biosciences, Fozia is a passionate advocate for women’s leadership and inclusive innovation. She previously co-chaired The Lifted Project – Newcastle Board, supporting high-growth female founders, and was named on the We Are Power Future List 2024 in recognition of her business leadership.

 

Molecule to Market is sponsored by Bora Pharmaceuticals and Charles River Laboratories, and supported by Lead Candidate. Please subscribe, tell your industry colleagues, and help us celebrate the value of the global life science outsourcing space. We’d also appreciate a positive rating!

M&A Roundtable Q4 2025 – Reflections and Predictions

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with:

• Andrew Gigax, Head of European Pharma Services M&A at William Blair
• Jennifer Chadwick, Founder and Principal at Jennifer Chadwick Consulting
• Sabina Ouimet Storrs, Principal at GHO Capital Partners
• Jason Foss, Head of Corporate Development at Bora Pharmaceuticals

Your host, Raman Sehgal, speaks with his guests about the pharmaceutical and biotechnology ecosystem, including:

• How market stabilisation has been overtaken by the need for adaptation in times of uncertainty
• Disciplined and deeper M&A, with heightened scrutiny, buyer and seller disconnect, and a sharper focus on operational efficiency
• The growing demand for bispecifics, radiopharma, isotopes, and other emerging segments
• Why the “picks and shovels” that serve multiple modalities are where opportunity lies in pharma services
• Why the US remains the hottest market, and how AI adoption has mainly focused on workflow so far
• The shifts and trends that could reshape pharma services in the years ahead

Molecule to Market is sponsored by Bora Pharma, Charles River and Lead Candidate, and supported by Lead Candidate. Please subscribe, tell your industry colleagues, and help us celebrate the value of the global life science outsourcing space. We’d also appreciate a positive rating!

From Pharma to CRO entrepreneur

In this episode of Molecule to Market, your host Raman Sehgal discusses the pharmaceutical and biotechnology supply chain with Jean-François Brepson, Chief Executive Officer at PathoQuest.

The conversation covers:

• Navigating 20 years of global leadership roles at Ipsen before moving from the corporate world into an investor-led entrepreneurial adventure
• The tough decision to refocus PathoQuest from diagnostics into a pure play CRO and pharma services business
• How a major strategic partnership transformed the company’s trajectory and why Jean sees partnerships as a competitive weapon
• Riding the tailwind of the FDA’s move away from animal testing and offering something game-changing in the CMC and GMP space
• The opportunities ahead for CROs and CDMOs in helping unlock the next wave of innovation

Jean-François Brepson is a dedicated leader with deep experience in biotechnology and pharmaceuticals. Since becoming CEO of PathoQuest in 2015, he has built the company into a leading global CRO specializing in quality control of biological drugs using Next Generation Sequencing (NGS). Over his career, he has advanced innovative technologies and solutions that bridge scientific progress with real-world application.

Prior to joining PathoQuest, Jean was Senior Vice President at Ipsen, where he led the global GI-Oncology and Endocrinology franchise.

 

Molecule to Market is sponsored by Bora Pharma, Charles River, and Lead Candidate. Please subscribe, tell your industry colleagues, and help us celebrate the value of the global life science outsourcing space. We’d also appreciate a positive rating!

The CEO leading Ensera's evolution

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Jason Anderson, Chief Executive Officer at Ensera.

 

Your host, Raman Sehgal, speaks with Jason about the pharmaceutical and biotechnology supply chain, covering:

• Why he chose BASF over law school, and why McKinsey ultimately was not for him
• Moving from corporate life into a venture-backed polymer technology start-up before a major exit
• The search for a PE-backed specialty manufacturing role that led him to Ensera (formerly SteriPack)
• The importance of appreciating local knowledge when entering new markets
• Similarities and differences between outsourced services in pharma and medical devices
• How today’s changes, pain, and uncertainty in the markets are creating opportunity

Jason Anderson is CEO of Ensera (formerly SteriPack), a global contract design and manufacturing organization serving the pharmaceutical and medical device industries. He has led the company through a period of significant growth and change, including the integration of new design and product development capabilities with Ensera’s core manufacturing services, and the launch of the new Ensera trading name.

 

Prior to Ensera, Jason held global business unit leadership roles at DJO/Enovis and at Saint-Gobain, overseeing businesses ranging from finished medical devices to customized, high-value components for biopharma and medical device industries. Earlier in his career, he held leadership roles at pre-revenue polymer technology start-up Novomer, at McKinsey and Company, and at BASF.

 

Jason has lived and worked in North America, Asia, and Europe. He holds a BS in Chemical Engineering from the University of Oklahoma and an MBA from Harvard Business School.

 

Molecule to Market is sponsored by Bora Pharma, Charles River, and Lead Candidate. Please subscribe, tell your industry colleagues, and help us celebrate the value of the global life science outsourcing space. We’d also appreciate a positive rating!