“More than half of your time as a public company CEO is devoted to things that are not drug development,” Xontogeny CEO Chris Garabedian says. Garabedian joins Bloomberg Intelligence analyst Sam Fazeli on this episode of the Vanguards of Health Care podcast to explain why he earlier left the track of operating public companies to back biotech, where better decisions can create the biggest value inflections. He discusses what separates real drug developers from scientists, why early biotech mistakes are often irreversible, how Xontogeny evaluates new companies, and why AI may improve research tools faster than it transforms human biology.