Steve Potts is developing medicines for hard-to-treat cancers. Just don’t ask what, exactly, he is working on. If word gets out, he fears a Chinese company could beat him to market. Potts’s company, whose team has shepherded a combined 13 drugs through Food and Drug Administration approval, is one of a growing number of biotechs going to extreme lengths to stay secret. He won’t pitch venture-capital firms. He hasn’t presented at academic conferences. The company, Breakthru Medicine, is taking money only from a handful of trusted, high-net-worth individuals and universities. For decades, young biotechs broadcast their science publicly to attract…

Want to continue reading?

Join today with an Annual membership and unlock full access to The Currency and The Wall Street Journal for just €200 – two premium memberships, one subscription.

Subscribe

Cancel at any time.

Are you already a member? .