"The competitive field is still somewhat constrained – there are only a handful of dedicated royalty investors – but the market is maturing into adolescence. It's in the pimply teenager phase rather than being a newborn."
– Greg Brown, managing director, Cowen Healthcare Royalty Partners, discussing the growth of royalty monetization in biotech

"Julia Child didn't say 'this is the right dose of salt' when 20 or 30 percent of eaters said the food was too salty."
– Paul Frankel, City of Hope, at the ASCO conference, about the levels of toxicity that are considered acceptable by investigators – but not by many of the oncologists who refer patients – in clinical trials.

"This is one of the more interesting industries right now because every part of it has to undergo reinvention."
– Glen Giovannetti, global biotechnology leader at Ernst & Young