The “Biotech Winter” is finally thawing, but if you’re expecting a return to the “hire-everyone-at-any-cost” madness of 2021, we’ve got some news for you: that world is gone.
As we look toward 2026, the global biotech landscape has stabilized. According to recent J.P. Morgan and Silicon Valley Bank reports, global VC funding has rebounded to approximately $34 billion annually. But there is a catch—it is incredibly selective. Investors have stopped funding “science projects” and started funding “businesses.” Late-stage Series D rounds have seen a massive 60-fold increase in value, which tells you everything you need to know: capital is flowing to quality, and quality requires a new kind of leader.
At Morunda, we’re seeing a fundamental shift in what our clients are asking for. Deep technical expertise? That’s now just the “ante” to get into the game. To win the C-suite today, we believe you need to be an intrapreneur.
The Death of the Silo
For years, you could stay in your lane. Scientists did science, and commercial teams did business. Those days are over. We are seeing a 10–20% salary premium for “Hybrid Leaders”—people who can sit in a room with R&D in the morning and explain the regulatory or commercial implications of that data by lunch.
As Christophe Weber, CEO of Takeda Pharmaceuticals, recently noted:
“Our mission is to deliver life-transforming medicines… and we must be more proactive than reactive.” This proactivity requires what Weber calls “cultural agility”—the ability to navigate both global R&D complexity and local market realities simultaneously. If you can’t connect the lab bench to the global balance sheet, you’re going to find the ceiling getting lower.
The AI Literacy Mandate
We aren’t saying you need to code, but you do need to lead. In 2023, AI was often a siloed experiment. By 2025, data from IQVIA shows that 52% of AI initiatives in life sciences became cross-functional. As a CEO or Head of Clinical, you have to understand how AI-driven R&D impacts your speed-to-market. If you’re still viewing AI as a “tech thing,” we believe you’re missing the biggest efficiency lever in the history of drug development.
The Rise of the “Player-Coach”
Post-pandemic organizations don’t have room for “Ivory Tower” executives who only manage from 30,000 feet. Our most successful placements are “Player-Coaches”—leaders who can set a global strategy but aren’t afraid to roll up their sleeves and mentor a lab team at 5 feet. Companies want leaders who can execute, not just delegate.
Vetting is a Two-Way Street
Finally, a word of advice for candidates: we encourage you to vet your next employer as hard as they vet you. In this era of financial discipline, “Mission Alignment” and “Financial Runway” are your safety net. Don’t just join for a title; join because the company has the cash and the culture to survive the next cycle.
If you’re considering your next move, book a discovery session with us to explore where your skills fit in today’s biotech leadership landscape.
