This story is part of STAT’s quarterly series Something Ventured, which looks at early-stage startups. You can read the earlier stories in the series here.
Biotech is an industry defined by splashy startups pitching groundbreaking, life-changing treatments — if only they had a bit more money to test them. But unless those companies eventually go public, finding out exactly what’s going on behind the scenes can be tricky. For outsiders, sporadic press releases may contain the only clues, even as companies continue to pull in venture funding or other investments.