It’s tiny biotechs — not big drug makers — that fear ‘nuclear winter’ from Pelosi’s drug pricing bill

WASHINGTON — No one asked Paul Hastings what he thinks about Speaker Nancy Pelosi’s major new drug pricing legislation, or how it might affect his company, Nkarta Therapeutics. No one asked Bassil Dahiyat, the CEO of Xencor, or Dr. Barbara Weber, who helms Tango Therapeutics, either.

But they’re all scared stiff.

They and other leaders of small biotech companies — most of whom stick to science, not politics — are speaking up now because they are uniquely worried that the policies included in Democrats’ marquee bill will dry up the venture capital funding that drives their industry and, in turn, make it impossible for the similarly small startups that turn basic research into new medicines to get off the ground.