Molecule to Market: Inside the outsourcing space

25+ years & 200+ deals - meet the prolific pharma investor

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Banks Bourne, Founder & Chief Executive Officer at Bourne Partners.

 

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

 

• How making a bet in the right place at the right time sparked an extraordinary journey in pharma investing.
• The founding of Bourne Partners and a twenty five plus year ride through multiple market cycles.
• Lessons from hundreds of deals, and why the best investments are often the most complex and hardest won.
• Why running from ego and listening obsessively to clients is one of the most underrated advantages in private equity.
• Why private equity has become increasingly commoditised, and why Banks believes momentum is building and sentiment is turning positive heading into 2026.

As Founder and CEO, Banks oversees all business operations and direct investment opportunities at Bourne Partners. He and the firm have been party to more than $10 billion of transactions in the pharmaceutical (“pharma”), pharma services, and consumer healthcare sectors. Banks is also the founder of Tanner Pharma Group, a pharma services company dedicated to providing managed access, commercialization, and clinical trials services to patients and partners in more than 100 countries.

 

For almost 20 years, Bourne Partners has transacted with nearly all major pharmaceutical and specialty pharmaceuticals companies around the world, including Banks’ initial investment in King Pharmaceuticals in the late 1990’s. This investment introduced Banks to the pharmaceutical world and jump started his interest in the healthcare sector. Since then, he has invested in more than 200 private companies / assets.

 

While Banks has derived great satisfaction by offering focused advisory services to, and investing in, pharma, healthcare, and consumer-oriented companies that need strategic and operational insights, he is even more gratified knowing that his work has helped companies to improve the health and well-being of patients across the world. Banks is passionate about providing healthcare, and specifically pharmaceuticals, to less fortunate patients, as demonstrated by supporting The Max Foundation, Partners in Health, The Bourne Foundation, The Levine Children’s Hospital, and other non-profit organizations. He received a B.A. degree in Business Management (Magna Cum Laude) from North Carolina State University and an M.B.A. from Wake Forest University. He is a member of Young Presidents Organization (YPO).

Molecule to Market is also sponsored by Bora Pharmaceuticals, 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 30-year, overnight success

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Julian Casciano, President & CEO at eMAX Health.

 

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

 

• How a family tragedy led him into the healthcare and pharmaceutical world.
• Why corporate life was not for him, but the valuable lessons he learned during his time at KPMG.
• The turbulent journey with a venture capital partner that ultimately led to an IPO and a successful first exit.
• How a relentless drive to become truly technology enabled has resulted in sixty percent of company revenue now coming from tech driven solutions.
• What led him to partner with private equity to accelerate investment in a game changing technology platform.
• Why the future of the sector is unfolding at speed right in front of us, and why now is the time to jump on board.

 

As Chairman and Chief Executive Officer, Julian leads eMAX Health’s mission to modernize market access and patient services for pharmaceutical and biotech innovators. With a background in technology enabled pharmaceutical services, commercialization strategy, patient services, and entrepreneurship, he has built the organisation into a trusted partner for navigating the complexity of rapidly evolving medical and commercial programs.

 

Most recently, Julian spearheaded the launch of MAVA®, a proprietary digital platform delivering rapid stakeholder insights and pricing guidance powered by real time data and AI. He also architected eMAX Health’s proprietary patient services case management system, HealthPACER®.

 

Molecule to Market is also sponsored by Bora Pharmaceuticals, 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 CDMO CEO Operator Playbook for 2026

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with 20+ CEO and C-suite leaders from the CDMO ecosystem, exploring two simple questions that reveal what’s really happening inside the building:

What’s the biggest internal business challenge for the year ahead?
And what’s the biggest opportunity inside their business in 2026?

Your host, Raman Sehgal, brings together a punchy set of operator insights spanning commercial readiness, capacity decisions, flawless execution, commercial excellence, and the shift toward deeper partnerships and integrated models.

Show features insights from:

• Ankit Gupta, CEO, InstaPill
• Nick Fortin, CEO, Codis
• Eric Edwards, MD, PhD, CEO, Phlow USA
• Jason Anderson, CEO, ensera
• Dirk T. Lange, CEO, Pyramid Pharma Services
• Philip Macnabb, CEO, Curia
• Matthew Bio, CSO, Cambrex and President, Snapdragon Chemistry
• Bruce Thompson, CTO, Kincell Bio
• Bill Vincent, Biotech Entrepreneur, CEO and Board Member
• Derek Hennecke, Founder, Investor and Board Member
• Stephen Dilly, CEO, Sonoma Biotherapeutics
• Elisabeth Stampa, CEO, Medichem SL
• Christiane Bardroff, COO Leader
• Kaan-Fabian Kekec, Partner, Simon-Kucher Healthcare and Life Sciences
• Ian Tzeng, Managing Director, L.E.K. Consulting
• Adam Siebert, Managing Director, L.E.K. Consulting
• J.D. Mowery, President, CDMO Division, Bora Pharmaceuticals
• Jon Alberdi, CEO, Vivebiotech
• Peter Belden, President, US, Tjoapack

 

 

Molecule to Market is also sponsored by Bora Pharmaceuticals, 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 AI CEO changing pharma from the inside

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with Pep Gubau, CEO, CTO & Co-Founder at Aizon.

 

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

 

• How working out what not to do very early on led to two successful growth and exit stories.
• Why surrounding yourself with smarter people is essential to learning, scaling, and long term success.
• How the industry’s underuse of data led to the creation of Aizon, and the challenge of pitching AI back in 2014 when it was anything but fashionable.
• The critical difference between pharma people building technology versus technology companies trying to do pharma.
• How pharma and CDMO manufacturing teams should be thinking about digitisation, AI, and transformative technology in a practical, value driven way.

 

Pep Gubau is the CEO and co-founder of Aizon, and a seasoned tech entrepreneur with four decades of experience and two previously successful companies.

He has a unique background as an economist with a foundation in engineering, and he holds several international patents in encryption, data transmission, storage, and processing for regulated cloud environments.

 

Pep is also a frequent speaker on the impact of Big Data, Machine Learning, and other Artificial Intelligence technologies, sharing insights into how these innovations are transforming regulated industries.

 

Molecule to Market is also sponsored by Bora Pharmaceuticals, 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! 

CDMO & C-suite headwinds for 2026

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with 20+ CEO/c-suite leaders from the CDMO space, who discuss the big headwinds for the pharmaceutical and biotechnology space for 2026.

 

Show features:

• Christiane Bardroff, Chief Operating Officer (COO) at Rentschler Biopharma SE
• Philip Macnabb, Chief Executive Officer at Curia
• Kaan-Fabian Kekec, Partner at Simon-Kucher‘s Healthcare & Life Sciences division
• Dirk T. Lange , Chief Executive Officer at Pyramid Pharma Services Bruce Thompson, CTO at Kincell Bio
• Bill Vincent, Biotech Entrepreneur, CEO, Board Member
• Derek Hennecke - founder, investor, board member
• Matthew Bio, CSO at Cambrex & President, Snapdragon Chemistry Stephen Dilly, CEO at Sonoma Biotherapeutics,
• Stephen Dilly, CEO at Sonoma Biotherapeutics,
• Bill Humphries, Chief Executive Officer at Medpharm
• Elisabeth Stampa, CEO at Medichem SL
• Kerstin Dolph, SVP of Manufacturing at Charles River Labs
• Eric Edwards, Chief Executive Officer at Phlow-USA
• Peter DeYoung, CEO at Piramal Pharma
• Ian Tzeng, Managing Director at L.E.K. Consulting
• Adam Siebert, Managing Director at L.E.K. Consulting
• J.D. Mowery, President CDMO Division Bora Pharmaceuticals
• Peter Belden President, US, Tjoapack
• Nick Fortin, CEO CODIS

Molecule to Market is also sponsored by Bora Pharmaceuticals 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!

Insights from JPM

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with three senior leaders that attended The JPM's Annual Healthcare Conference 2026:

• Chris Garabedian, CEO, Xontogeny and Portfolio Manager, PXV Fund
• Dean McAlister, Executive Vice President, Inizio Biotech
• Catherine Hunter, Head of Business Development at  ramarketing

 

Hear from experts who have seen multiple cycles and know the difference between noise and signal.We talk real confidence levels, what actually dominated conversations in San Francisco, where capital and opportunity are genuinely moving.

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!

CDMO C-suite optimism pulse for 2026

In this episode of Molecule to Market, you’ll go inside the outsourcing space of the global drug development sector with 20+ CEO/c-suite leaders from the CDMO space, who discuss the optimism levels for the pharmaceutical and biotechnology space for 2026.

 

Guests include:

• Christiane Bardroff, Chief Operating Officer (COO) at Rentschler Biopharma SE
• Philip Macnabb, Chief Executive Officer at Curia
• Kaan-Fabian Kekec, Partner at Simon-Kucher‘s Healthcare & Life Sciences division
• Dirk T. Lange , Chief Executive Officer at Pyramid Pharma Services Bruce Thompson, CTO at Kincell Bio
• Bill Vincent, Biotech Entrepreneur, CEO, Board Member
• Derek Hennecke - founder, investor, board member
• Matthew Bio, CSO at Cambrex & President, Snapdragon Chemistry Stephen Dilly, CEO at Sonoma Biotherapeutics,
• Bill Humphries, Chief Executive Officer at Medpharm
• Elisabeth Stampa, CEO at Medichem SL
• Philip Lee, CEO at GeneFab
• Kerstin Dolph, SVP of Manufacturing at Charles River Labs
• Eric Edwards, Chief Executive Officer at Phlow-USA
• Peter DeYoung, CEO at Piramal Pharma
• Ian Tzeng, Managing Director at L.E.K. Consulting
• Adam Siebert, Managing Director at L.E.K. Consulting
• J.D. Mowery, President CDMO Division Bora Pharmaceuticals
• Peter Belden President, US, Tjoapack

 

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 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!