Despite all the noise -- tariffs, regulation, geopolitics -- the fundamentals are amazing, because our companies save people’s lives and the demand for innovation is absolutely real.” says Antoine Papiernik, Sofinnova Partners Chairman and Managing Partner. Speaking with Bloomberg Intelligence analyst Sam Fazeli, Papiernik explains why biotech remains a defensive, long-duration industry. He details how Sofinnova leverages AI to connect decades of proprietary data, uncovering emerging science across Europe to identify the next generation of biotech leaders. The discussion also covers the rise of AI-native drug discovery, the impending pharma patent cliff, and why capital is flowing toward platforms that deliver real clinical impact.