BoB@JPM: Marc Salzberg, M.D., Airway Therapeutics

The Business of Biotech was back in San Francisco for the J.P. Morgan Healthcare Conference (January 12 - 15) and this week we sit down with Marc Salzberg, M.D., CEO, CMO, and Board Chair at Airway Therapeutics, a company developing a recombinant version of human surfactant protein D for several respiratory, inflammatory, and infectious diseases including bronchopulmonary dysplasia (BPD), which is currently in Phase 2b/3 trials. Brian talks about why he selected BPD as a lead clinical indication (a disease primarily affecting preterm infants), what he learned through founding and selling a CRO, how a private biotech funds a pivotal trial across continents, and offers an industry outlook for 2026.   

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Transcript

Meet Marc Salzberg And Airway Therapeutics

Ben Comer 0:06

Welcome back to the Business of Biotech. I'm your host, Ben Comer, Chief Editor at Life Science Leader, and today I'm speaking with Dr. Marc Salzberg, MD, CEO, Chief Medical Officer, and Board Chair at Airway Therapeutics, a clinical stage biopharmaceutical company developing Zelpultide Alpha, a recombinant version of human surfact surfactant protein D for severe respiratory, uh, inflammatory, and infectious diseases, including uh bronchopulmonary dysplasia, uh, which is currently in phase 2B3 trials. Does that sound sound all right so far? I thought that's correct. Yeah, uh Marc joined airway therapeutics uh as president and CEO in 2013. And before that, he held leadership roles at several CROs, including Denothex and Medpace, uh, the latter of which acquired PharmaBrains, a European CRO, where Marc was founder and CEO. Before that, he worked in academic medicine as a director at the Clinical Cancer Research Center in Switzerland and at University Hospital Basel. And he began his career at Roche working in global operations. I'm excited to chat with Marc about the company building process and clinical strategy at Airway, uh, what he learned during his time in academic research and leading CROs, and what his priorities are for 2026. Thank you so much for being here, Marc. Thank you for having me, Ben. Uh it's the uh the JPM um day one session of the business of biotech. Uh, we're here in San Francisco, and I I wanted to start out uh, and we'll we'll talk a little bit about uh JPM and I'll get your thoughts, you know, and and your maybe your goals for the conference, Marc, but I I wanted to start out with your background. Um you went to, I think, medical school and law school concurrently uh at the University of Basel. Is that correct? That's right. That's right.

Marc Salzberg, M.D. 2:07

I started with medical school, and um in Switzerland you have to write the thesis or dissertation to get your doctor's degree. And um, I wrote about the ethical and medical research uh issues with um high-risk clinical studies in human beings. Interesting. And so I became interested in the legal aspects of medicine and research, so enrolled in law, law school as well.

Ben Comer 2:32

Did you sleep at all during that time? I slept. I slept. Uh your career in life sciences began at Roche. Um, could you talk a little bit about those initial experiences and maybe what you worked on uh at Roach? Yeah.

Lessons From Roche And Early Drug Development

Marc Salzberg, M.D. 2:50

Um at Roche, I had the possibility to enroll in a training program for young physicians, which uh was extremely helpful for me to understand the drug development process. I later then specialized in pharmaceutical medicine, which was my goal. So Roche helped me a lot in that uh respect. I worked in the CNS um section first, and then moved over to virology and oncology. And that exposure to uh in virology to HIV disease and cytomegalar virus disease, CME disease for AIDS patients and transplantation helped me a lot in terms of understanding for deeper immunology and then the translation from bench to bedside, from research into clinical um development. On one hand, and oncology the same. I was very lucky to be at the I guess at the right place at the right time, and was able to take uh one of the uh Roche drugs from early stage into clinic and then into uh into market. And uh that um gave me a wealth of experience and network in the drug development industry.

Ben Comer 4:08

You went uh well, you decided to leave Roche um and go into academic medicine, which is a bit unusual to go from industry and the clinical research as opposed to the the inverse uh academic medicine to industry. You found your way back, but um what was there a reason why you decided to make that move at that time?

Crossing Into Academia To Bridge Silos

Marc Salzberg, M.D. 4:28

Yeah, it was actually two reasons. One was as a result of my work in oncology, I realized that the interface between academic medicine and industry was still very, very challenging. The bridge between academic orientation of research and the more focused uh research in in the pharmaceutical industry with the clear target of bringing a drug to market uh seemed really um uh not efficient. Uh it seemed that there was a lack of understanding on the academic side for what the industry needs and on the industry side for what academic institutions need. And so I I was interested out also as an entrepreneur to strengthen that connection between the two. So, on one hand, my role then in academic medicine to build a cancer research center in collaboration with the industry and academia fulfilled exactly that uh goal on one hand, and then on the other hand, I found that pharma brains at the same time, um, again as a as an entrepreneur on one hand, and also to bridge industry and academia and foster collaborations between the two.

Founding PharmaBrains And CRO Insights

Ben Comer 5:52

And you're talking more beyond just the tech transfer function. You're talking about the the whole orientation of academic clinical research, is what it sounds like. So, what you know, what were I guess some some changes, or maybe what was the need that you saw in the market uh for starting up pharma brains? And and how did you, I guess, uh wed those two, you know, very different um or you know, clinical, academic research, industry, different sets of incentives, uh, different ways of working. Um were you trying to, you know, wed that in some ways with pharma brains, or or what did you bring, I guess, from from both to to that organization, which is a contract research organization?

Marc Salzberg, M.D. 6:35

Correct. From from my experience first in the clinic, um and then at Roche, I gathered that um clinicians and um academic academicians, they are focusing on discovering new new things, um, developing it, but always with another question, another question, not necessarily with the target of bringing a drug to market by the end of today. Whereas industry clearly has a goal to translate that discovery into something tangible, uh, improved medicines. Sure. And uh the lack in the academia was the regulatory experience, what is needed really, and the finance. But the pharmaceutical industry has that, but sometimes lacks the experience from clinical practice. What is feasible? How can you design a study that's that's feasible and at the end of the day gives you the data that that uh you need to make it applicable? And then comes the regulatory uh stakeholder in it that um has a bit of uh all of that understanding of drug development, but nothing really fully focused. I'm sorry to say that. And I was trying with PharmaBrains to bring all of them together to vent them really and say, guys, you have all the same goal. You want to improve um medicine, you want to improve health in in uh in people and in patients, prevention therapy. So I wanted to help basically to give a platform for communication, and ultimately we ran studies, and that was the ultimate goal, but always with the notion of helping to um consolidate the wishes of the industry and of academia and make it happen and feasible.

Ben Comer 8:32

So, and I mean it seems like in some respects it's as it should be, that you know, in academic medicine it's it's more broad, it's asking question after question, it's not as focused. You're not trying to, you're not saying that there needs to be a specific drug focus and academic medicine, are you? Or are you saying that there just needs to be uh, I guess, a better understanding of uh of what happens when a technology moves over into development for a drug uh in terms of um you know good manufacturing practices and and things like that.

Marc Salzberg, M.D. 9:08

Is that where you're that's exactly right? I don't think that the focus needs to change. I think the understanding needs to um and be enhanced so that we get in a more efficient way to um the drug development process that leads ultimately to new medicines. But I would definitely not cut the uh focus of academia on new discoveries and and change that, but just to transfer that technology into new interventions.

From Exit To Airway: Why SP-D

Ben Comer 9:42

Uh we're at JP Morgan, so you know we're gonna be there's gonna be lots of discussions about deal making, fundraising. I I was curious about the the Medpace acquisition. This was a a company, PharmaBrains, that you know, that you founded and grew over a number of years before it was acquired. Um is there anything you could say about that experience, you know, starting and and selling a company? Uh was there you know any kind of learnings or interesting things that that maybe you didn't expect? Or how did how did that happen?

Marc Salzberg, M.D. 10:14

Well, the the founding and the the the growing of the company was was a fantastic experience and um I wouldn't want to miss it. I did reach the point though where the question was, can I continue with that almost personalized um engagement in each project as a founder? Um, or do I need to start to grow the company to the extent that I cannot even guarantee anymore what I'm promising, namely that I will make sure this is not only about pharma brains making money or um or academia trying to publish as much as possible, or the sponsor of the company trying to to push the uh um the trial forward, irrespective of what the data are saying. I'm being extreme now. Sure. And and remember that was in 25 years ago. So the situations changed and drug development changed, and I think all the stakeholders understand what I'm just saying now. But at that time, not everybody did, I believed. And it the suc the success of pharmabrains actually proved me right, I believe. But then it came the point where I thought if we're going further, I cannot guarantee that anymore. So MetPase as a CRO that was established, that was a mid-sized CRO that had already a very uh therapeutic focus with with physicians engaged in each drug development process, seemed to be the right target for selling pharma brains too. Okay. And I believe uh it's still true when I say that today.

Ben Comer 12:02

And you stayed on at MedPace after the sale for a little while, up until uh Airway? Is that three years, yeah. Okay. Yeah. Um, what can you tell me about uh how airways started up? You know, what were the circumstances that that brought you into the company?

Funding A Private Biotech To Phase 3

Marc Salzberg, M.D. 12:19

Yeah, so uh at some stage I was approached by um uh members of CincyTech USA, a seed fund uh out of Cincinnati that started to that that helped to start their way therapeutics, um, where I could have a look at this project. And what striked me is it was such a simple science behind it. There's uh respiratory conditions where there's protein suffracting protein D is lacking, and there's a connection between the missing of functional protein and the morbidity and the severity of the morbidity, whether it's for preterm babies or also for adults. So the science was fairly convincing and simple. Um, I think the challenge and at the time underestimated by many, including myself, is how challenging it's gonna be to manufacture this promptly. But the science convinced me, and and this is why I wanted to get uh involved there. Uh, we made some adjustments then to how this drug should be developed. So subsequently the board asked me to to join.

Ben Comer 13:32

So the fund reached it out to you. Had you spent much time in in Ohio at that point in Cincinnati?

Marc Salzberg, M.D. 13:38

Well, I actually moved to Cincinnati to um work on MetPace headquarters. Oh, okay. So um I was close, but the idea was at that time to stay there for two years and go back to Switzerland where I'm from. I was still here. 13 years later. Yeah, right. Um, so that that's how I got connected.

Ben Comer 14:00

Is your headquarters now uh technically in Marietta, Georgia? Or um yeah, I I saw that on the contact on your website. I was curious about you know how uh how that came to be. Um I grew up in Augusta, Georgia, so I, you know, I was just curious, you know, what's happening in Marietta?

Marc Salzberg, M.D. 14:17

Um we uh decided to uh move as a family at the time, uh, rather than to go back to Switzerland. We moved a bit more south in the States uh for multiple reasons uh that were not connected to business. And um I informed Airway Therapeutics then uh I can unfortunately not be the CO because I'm moving away out of Cincinnati, but the board at the time decided I should still do it, and uh we moved the company to Marietta.

Ben Comer 14:46

Okay, yeah. Well, her uh one of my close friends now lives in Zurich and he grew up in Georgia. I would love to have the two of you sit down and jump through her notes. Uh that'd be uh that'd be fun. Uh happy to uh airway therapeutics um is privately held. How have you managed to to keep the funny the the company funded uh into now a phase three study?

Marc Salzberg, M.D. 15:10

Yeah, well, that's obviously a challenge. Um haven't met the biotech company yet that's privately held, that doesn't constantly try to raise money. Um we raised almost a hundred million dollars to date, and um we did that predominantly with um through family offices, high net worth individuals. Uh CincyTech USA, I mentioned before, uh, was part of the startup financing of this uh company. And then we have uh a larger uh insurance that has a private equity arm that that uh also invested. But um so far without classical um institutional investors, um that's needs to change now. Now we reached a level where we need to uh um play in the bigger league.

Manufacturing And CDMO Strategy

Ben Comer 16:07

Yeah, well I wanted to ask you about that. You know, what kind of and and I suspect that you're here at JP Morgan, and you know, at least in part, um for that reason that exact reason. Um, do what uh what can you say about your future plans um for you know for phase three and and beyond? Are you seeking, you know, a partnership, uh a deal? Are you working toward an IPO? You know, what what are your thoughts? Um I guess all of the above. Yeah.

Why Lead With BPD Prevention

Marc Salzberg, M.D. 16:34

Um I couldn't tell you today what's gonna happen, really. It's obvious that all these possibilities of um of uh fundraising through private capital, on one hand, um maybe at a later stage going public, um, maybe in acquisition. I I don't think we want to um focus on one or the other right now. Uh for us, the most important is are two two things. One is we want to ensure that the drug is now going through its pivotal trial for uh prevention of preterm bone uh for prevention of uh BPD and pretern born babies. And you have the runway to do that? Um we have the partial runway to do that. Uh we have the uh runway enough to get going with the trial and get to milestones that we need to reach. Okay. Um, but we need to get more funding to go all the way through. So that's one thing that we want to ensure. And the second part is um cell pool. First and foremost, uh severe pneumonias, uh uh infections, viral bacterial infections, also exacerbation of COPD, um, asthma, pulmonary fibrosis, so a wide range of large indications in a severe setting, uh ICU setting. And in order to do that, we need to not only scale manufacturing, we need to also uh run those trials, obviously. And uh funding is uh we is needed for that part as well. And and we want to make sure that this is all happening. So back to your question, whether this is ideally happening in partnerships or or not, uh, is to be discussed.

Ben Comer 18:34

Okay. Uh Zellpol to uh Zellpoltide Alpha. I'm gonna try to get the the name right on this. You mentioned you know it's uh uh perhaps difficult to manufacture. Are you working with uh a CDMO now to manufacture? Um and I guess you're in the process of scaling that up for the phase three trial? That's right.

Marc Salzberg, M.D. 18:55

The actual manufacturing itself is not that difficult. The difficulty was to develop the manufacturing process.

Ben Comer 19:02

Okay.

Marc Salzberg, M.D. 19:03

Um the the upstream process, the purification process, and then the analytics going with it. That was really, I would say, one of the bigger claims to fame than airway therapeutics um has. And um the actual manufacturing process, there is a number of companies that can do that. And we are we we ran a selection process with C and DMOs that are interested, willing and capable to um scale. And now we need to get the necessary funding to do so.

Ben Comer 19:38

Okay, and you're I think probably well positioned to know you know which partners to work for in manufacturing, having having you know founded and and grown a company that you know it was some time ago, and as you you know, as you mentioned, uh drug development has changed probably fairly substantially since that time. Um, but the the transferring of the process to Development to the CRO or the CDMO. You know, I I've heard kind of horror stories about that in the past. It's not the most easy thing to do if you have a difficult manufacturing process. You're saying that it's not necessarily difficult to manufacture. It was a challenge to just simply design the process development. Once you did that, though, you were able to hand that over fairly easily to a manufacturing contract manufacturing partner.

Marc Salzberg, M.D. 20:27

Well, we did develop it partially even with that CDMO that we took with. But um so I'm saying it's not complicated, but there's only a limited number of CDMOs that are capable of running it with the technology that we need. Um but we have identified those manufacturers, and they exist in the United States and outside the United States. And uh we'll need to see now with whom we're going. Um we're ready to get going. It's really a question now of securing the financing for it.

Regulatory Path, Orphan Status, And PRV

Ben Comer 21:03

Okay, got it. Um I wanted to ask why you decided to uh to pursue uh brought the bronchopulmonary dysplasia uh as the lead indication. Um you mentioned some of the other development areas, and I want to ask you about kind of your overall uh clinical strategy, but why VPD uh to start? Right. So there's two reasons for that.

Global Trial Footprint And First Enrollment

Marc Salzberg, M.D. 21:27

One is that there was a um pretty good set of data already available uh from preclinical research, discovery and research on the role of surfactant protein D in the pathogenesis of bronchopulmonal dysplasia. It's clearly um it became very clear that the lack of um surfactant protein D in preterm born babies plays a major contributing role to the development of BPD. Babies that get BPD are typically lacking functional surfactant protein D. So that was the the science behind it, and there was good data from multiple experiments proving that. The second part is pretumbal babies are born with an underdeveloped lung. Septation in the lung did not yet fully uh happen, but they're born with the lung in the so-called saccular stage, bigger airbags and alveolite, smaller airbags for the gas exchange, need to build. And um, in the case of uh inflammation and eventually secondary infection as a result of the intubation that these babies um undergo and the ventilation, both damaging the lungs, leading to that inflammation, leads also to an arrest of lung development. So lung development arrest is a major contributing factor to lifelong issues that these babies are suffering from, being it on the pulmonary side, but also on neurodevelopment. Now that's very different to any respiratory condition in adults. They have a developed lung that might suffer from inflammation and infection and lung injury, uh, where cell pull that alpha can help. But the all the the lack of development and the the urgent necessity to reverse that inflammation to make sure that the lung fully develops so that these babies do not suffer lifelong consequences. That is one of the reasons why we went for BPT first. And last but not least, there's nothing out there, there's nothing registered for uh treatment or prevention of BPT anywhere in the world. And we are in the pole position to first come with a treatment in that con for that condition. Is it a rare condition? Is it a rare condition? Well, by definition, all conditions in in in the youngest of infants were how however the addressable market for us is not rare. Okay, because the addressable market is all very preterm born babies, whereas BPD occurs in roughly a third of those babies depending on when they're born. We're treating babies born between week 22 to 28, uh just below 28. The incidence of BPD is exponentially increasing the younger the babies are. So if you look at 22, 23 week old babies born week 22 or 23, they have an incidence of 90% plus of BPD, so really high. And then it goes down to 50, 40, 30 percent.

Ben Comer 25:00

But it's not it wouldn't be considered a rare pediatric disease uh like under the FDA framework, for example. You couldn't potentially participate in the priority review voucher program.

Wearing CEO And CMO Hats

Marc Salzberg, M.D. 25:11

We can't. Oh, you can't. We do qualify for the pediatric voucher, and we have orphan designation in the US and in Europe for simple.alpha or for M BPD with all the um benefits that come with it.

Ben Comer 25:25

Oh, so you you are in that program then. So if it's approved, you will receive a priority review voucher.

Marc Salzberg, M.D. 25:30

Which is why also we are going now from a phase one B study that we ran and add very promising data directly into a phase two B3 study, which uh we consider our pivotal trial.

Ben Comer 25:43

Okay. Uh well, it's uh I'm gonna get on my hobby horse really quickly and say that I hope uh Congress will come together and reauthorize the priority or the uh pediatric priority review voucher system. It's uh sunset, it's not active right now. However, you've already entered the program, so I think you're you're okay. But for uh for companies that will, you know, would hope to use that really excellent incentive uh in the future, it will it will need to be reauthorized, hopefully.

JPM Goals And 2026 Priorities

Marc Salzberg, M.D. 26:10

Look, if you if you look at where um larger companies um put their money in, uh a lot go into bigger markets, go into in respiratory into COPD, into asthma. Uh if we don't have incentives to go into rare conditions, it's going to be very, very difficult uh to develop drugs in that space, and not many do. However, if you look at our at our potential, the potential, not only from a medical standpoint, but also commercially, um, the potential is huge, but the pre-investments are enormous. And nobody will do these investments uh without some incentives going with it. So I'm I'm with you. I I hope Congress will prone that too.

Ben Comer 26:57

Uh in terms of uh regulatory, um you we've just met talked about the FDA a little. The the phase three trial that you're conducting now is in Europe. Are you going to be also conducting trials in the US as part of that phase three? And do you anticipate you know getting first approval uh in Europe or the US?

Marc Salzberg, M.D. 27:19

Well, the phase two B suite trial is is now approved in in Europe and Spain and Italy, and a few sites are open, and we have actually enrolled the first baby. Uh we said we will enroll still in 25, and the baby was enrolled one hour and 51 minutes before midnight. Okay. December 31st. Um uh the trial will also uh open in the US. We will include the US uh uh as well, and uh it's approved in Israel, and we have also submitted to the Argentinian authorities. Okay. So it's a multinational study. Okay. We will add tomorrow's countries in Europe and have submitted for that as well.

Ben Comer 28:00

Funding first and opening the new term. One after the other. Yeah, got it. Um you uh you're both uh CEO and chief medical officer at Airway for someone who went to law school and med school at the same time. Maybe that's not such a heavy lift, but um, you know, I'm curious about how you think how do you think about the individual responsibilities of both positions? You know, are you CEO for part of the day and CMO for the remainder? Does one perspective inform the other or vice versa? How do you uh how do you manage that?

Adult Indications Beyond Neonates

Marc Salzberg, M.D. 28:32

Yeah, well, for at the moment it's a big stretch because as a CEO, I'm I'm I need to ensure that um we have our open communication with our investors, with our current investors, and also with new investors and raise more capital. On the other hand, now in the startup phase of the trial, uh it's a lot of work too. So I'm using the 24 hours that I have per day. However, it's um uh it's our plan to um hand over my medical responsibilities fairly soon. Uh at the moment, basically, we identified the suitable candidate, um, maybe in a medical director position or higher, depending on uh the candidate. Okay. So I I do not intend to uh hold uh both positions, besides the fact that I'm chairman of the board as well, to hold all of that for much longer.

Ben Comer 29:26

Um I mentioned we're at JP Morgan. Uh I told you I'd ask you about your goals for the conference. Uh what what can you uh tell me about, I guess, um what what you've been up to so far and what you hope to accomplish while you're here. Yeah.

Marc Salzberg, M.D. 29:39

Um well, I want to learn um what others do in the respiratory sector, on one hand, in pediatrics, the challenges they face in rare diseases. Uh, maybe share some of our experiences in this regard as well. Um, and then the other part is the fundraising. Uh, look what uh investors uh are interested in. And uh we have already uh received quite some encouraging feedback in this regard. So we'll have uh conversations uh a little bit in this end.

Ben Comer 30:12

Uh what about your priorities for the rest of 2026? Or are you focused pretty exclusively on you know enrolling that trial, getting to your to your milestones? Are there other things that you're prioritizing this year? Yeah.

Patient Selection And Addressable Market

Marc Salzberg, M.D. 30:26

Well, we're gonna be for sure laser focused on on our pivotal trial, make sure uh that we pick the right sites. Um we there's a variability, um heterogeneity in this patient population, uh the multimorbid. So you need to make sure you work with sites that are uh that have their guidelines, that are uh that have uh we good outcomes in uh preterm neonates uh to make sure that we work with good quality sites. So that's on one hand our focus. The other is what I mentioned before the capital raise, and then uh kickoff of the scaling of manufacturing and um continue our preclinical research for adult respiratory conditions and then move into the planning of um clinical trials. We did already a small feasibility trial at uh with in COVID patients, and that was promising. And we uh actually have uh an advisory board meeting coming up soon to discuss the prioritization of indications in uh adult uh in adults.

Ben Comer 31:38

Uh in um BPD, is it is a preventative treatment? Is that right? So you're looking for in some respects the the earliest pre-term preterm babies, because as you said, nine some 91% if it's 22 to 24 weeks. And so is that that's kind of your your primary target, but then how how far out do you go? You know, do you go all the way up to babies with full term? How do you select who patients for the trial?

Marc Salzberg, M.D. 32:05

Yeah, yeah, we go to those that are um in our trial 22 weeks to 27 weeks and six days, so just below 28 weeks. Um, that's trial, and that's then obviously the goal to get the label for that.

Ben Comer 32:20

Okay.

Marc Salzberg, M.D. 32:21

Uh, but it's it's uh evident that babies that are born 29 weeks, 30 weeks, they still have uh uh um issues with respir respiratory conditions, still need ventilation, still suffer from BPD. So uh that will be um part of the addressable market as well.

Industry Outlook, Deals, And Predictability

Ben Comer 32:39

All right. Uh we're coming up on the end of our time, Marc. I did want to ask you uh uh just a kind of a larger uh question about about the industry, um macro issues facing the biopharmaceutical industry. Uh funding is is still difficult, at least um with respect to the public markets. Uh there has been something of a spike in deal activity, which is a good sign. Um there's you know some regulatory and and policy uncertainty uh in this country. Um, what what is your outlook for 2026? Um what are you watching or anticipating?

Marc Salzberg, M.D. 33:17

Um so one trend that we're seeing that's very encouraging, that even uh larger uh pharma companies, mix-sized biotechs, are focusing on expanding their pipelines into new indications, so not just uh followers into uh another GLP drug, another anti hypertensive, another cancer drug. Obviously, in those indications, there's still a lot to be done, but um new indications are of interest, novel drugs of interest. Um, I think that's interesting. The vast majority of new drugs are gonna come out of small biotechs like us, not out of pipelines of big pharma. And I think big pharma managers will will underline what I just say. At some stage, they take it in, um, acquire companies like us, and then build their pipelines like that. So that's one trend that I think will continue. Um the other is concerns that I have are for sure the regulatory environment, not necessarily only from a pricing standpoint and reimbursement, but more so from a reliability and predictability standpoint. If you work in new indications that are that where regulators are not yet familiar with or that familiar with, there's a lot of education needed. And investors do not like unknowns, they do not like lack of predictability, and I think there needs to be more work done. Again, coming back to how we kicked this discussion of with the platform of all stakeholders need to be aware we have one goal, we need new medicines to improve um health and um and to improve treatments and outcomes. And uh, we need to be aware that we all want the same and and not work against each other, but with each other. And with that, I think um we have a bright future to go.

Closing And Where To Subscribe

Ben Comer 35:22

Well, I think that's a a great place to leave it. Uh, thanks again for coming on the show, Marc. I really appreciate it. Thank you, Ben. I appreciate it. We've been speaking with Marc Salzberg, MD, CEO, CMO, and board chair at Airway Therapeutics. I'm Ben Comer, and you've just listened to the Business of Biotech. Find us and subscribe anywhere you listen to podcasts, and be sure to check out our weekly video cast of these conversations every Monday under the Business of Biotech tab at life scienceleader.com. We'll see you next week, and thanks as always for listening.