Clinical Capital Conversations

Dr. Peter M. Kovacs

Welcome to Clinical Capital Conversations! Join host Dr. Peter M. Kovacs, a clinical research pioneer and global investor, as he explores the intersection of science and strategic investment. Discover what it takes to transform medical innovation into scalable impact. Each episode features unfiltered conversations with clinical research leaders, biotech/medtech founders, VCs, and policymakers. Peter shares his firsthand experience, from building agile clinical trial networks to investing in disruptive health tech across Asia and Europe.

  1. EP18 - FemTech Is Not a Trend, It Is a Clinical Correction

    Feb 13

    EP18 - FemTech Is Not a Trend, It Is a Clinical Correction

    FemTech is often framed as a market trend. In this episode of “Clinical Capital Conversations”, Dr. Peter M. Kovacs explains why it is actually a long-overdue clinical correction. Together with Roswitha Verwer, Founder and CEO of “YON E”, and Muskaan Bhan, Chief Clinical Officer, this conversation explores why women were historically excluded from clinical trials, how biased data still shape healthcare AI, and why continuous measurement is changing medicine. This episode is for investors, founders, and healthcare leaders who care about execution, responsibility, and long-term impact, not shortcuts. Timecode: 00:00 Welcome and Introduction 00:50 Progress and Achievements in FemTech 02:16 Strategic Planning and Teamwork 05:18 Challenges in FemTech and AI Development 08:42 Importance of Continuous Data Tracking 12:49 Ethical Considerations and Long-Term Goals 16:20 FemTech Industry Trends and Future Outlook 20:29 Navigating Advisory Roles in a Regulated Era 20:48 The Rise of FemTech and Female Health Initiatives 22:38 Building a Supportive FemTech Community 23:19 Challenges in FemTech Investment 24:34 Investor Conversations and Strategies 30:21 The Importance of Team and Personal Connections 33:08 Future Plans and Closing Remarks Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Roswitha Verwer LinkedIn: https://www.linkedin.com/in/roswitha-verwer-b2b636137/ Roswitha Verwer Personal Website: https://www.roswithaverwer.com/ Dr. Muskaan Bhan: https://www.linkedin.com/in/dr-muskaan-bhan-9b7123120/

    37 min
  2. EP17 - The Real Risk Is Execution: What Investors Miss When They Fund Science Without Systems

    Feb 6

    EP17 - The Real Risk Is Execution: What Investors Miss When They Fund Science Without Systems

    In this episode of Clinical Capital Conversations, Dr. Peter M. Kovacs sits down with Roswitha Verwer (YONE) and Karoly Szanto to unpack what most investors miss in early-stage health innovation: execution is the moat. YONE delivered the majority of a 12-month roadmap in 6 months. We break down how it happened, what systems made it possible, and why femtech fundraising is still biased even when the operating metrics are strong. What we cover: How to build vendor communication into contracts and timelines Running a high-performance global team without losing control Meritocracy, KPIs, and having hard performance conversations with facts Why female founders and femtech still face access barriers to capital The gap stage problem in medtech funding, and why value-driven partners matter Why many accelerators create noise, not outcomes The next milestones for YONE, including the 600,000 co-investment raise and the seed round plan This is a conversation for investors, founders, and operators who want clinical innovation that scales, de-risks, and reaches patients. Timecode: 00:00 Introduction and Welcome 00:21 Achievements and Progress 01:38 Lessons for Startup Founders 02:56 Building a Strong Global Team 04:44 Handling Underperformance 09:36 Future Challenges and Milestones 13:28 Fundraising Challenges for FemTech 27:36 The Importance of Value-Driven Partnerships 31:29 Conclusion and Gratitude Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Roswitha Verwer: https://www.linkedin.com/in/roswitha-verwer-b2b636137/ Károly Szántó: https://www.linkedin.com/in/karolyszanto1/

    33 min
  3. EP16 - The Co-Investor Question That Determines Everything in Biotech and Medtech

    Jan 29

    EP16 - The Co-Investor Question That Determines Everything in Biotech and Medtech

    This is a continuation of our main conversation on what it takes to turn medical innovation into scalable impact. In this episode, Dr. Peter M. Kovacs sits down with Károly Szántó and Thijmen Meijer to unpack the co-investor question that determines everything in biotech and medtech. If you are building or funding early-stage life sciences, this is the uncomfortable truth: the cap table is a governance system. The wrong co-investors can slow execution, distort milestones, and burn capital. The right co-investors create speed, trust, and real de-risk. What we cover: Why investor labels matter less than incentives and behavior Skin in the game, and why it changes decision quality Two co-investor archetypes that create real synergy How family offices think, and why relationships and values come first Europe versus Asia: differences in investor mindset and culture Why smaller, domain-specific funds are gaining momentum Practical questions founders and investors should ask before partnering Who this is for: Founders in biotech and medtech, healthcare VCs, family offices, corporate venture teams, private equity, and operators building clinical infrastructure. Timecode: 00:00 Introduction to Key Stakeholders 00:22 Types of Co-Investors 01:09 Value Proposition and Commitment 02:10 Investor Specialization and Synergies 03:26 Role of Angel Investors 04:02 Corporate Venture Capital 04:44 Family Offices and Personal Touch 08:56 Challenges in Different Regions 09:32 Building Relationships with Investors 10:34 High Net Worth Individuals 18:02 Micro Funds and Emerging Managers 19:51 Conclusion and Future Outlook Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Károly Szántó: https://www.linkedin.com/in/karolyszanto1/ Thijmen Meijer: https://www.linkedin.com/in/thmnmr/ UniPrisma: https://uniprisma.com/

    20 min
  4. EP15 - Europe Has the Science. Asia Has the Capital. The Missing Layer Is Execution.

    Jan 23

    EP15 - Europe Has the Science. Asia Has the Capital. The Missing Layer Is Execution.

    Europe has elite science. Asia has a capital. So why do so many European university spinouts never reach venture readiness or exits? In this episode, Dr. Peter M. Kovacs speaks with Károly Szántó and Thijmen Meijer about the real gaps that block deep tech startups, especially in Central and Eastern Europe, and what a modern support model looks like. What we cover: Why most spinouts never become VC fundable The commercialization gap between research and markets Mindset, team design, and why the founder is not always the CEO IP clarity and why it is the first gate to investability Milestones that remove ambiguity and build investor trust Smart money versus dumb money in biotech and medtech How to bridge Europe’s science with Asia’s capital through operators and partnerships Key takeaway: funding is not the goal. Value creation is the goal. Subscribe for more conversations at the crossroads of science and capital. Timecode: 00:00 Introduction and Meeting the Guests 00:16 Challenges Faced by European Startups 04:44 The Importance of Mindset in Commercialization 07:43 Building Effective Teams for Startups 14:04 Investment Challenges and Opportunities 17:15 The Role of Clear Goals and Milestones 21:40 The Investor's Perspective 25:26 Introduction to Portfolio Companies 25:45 The Need for New Investment Models 26:05 Technological Boom and Efficiency 26:29 Building Companies for Impact 27:30 Challenges in Deep Tech Investment 27:50 Value-Driven Founders 29:12 Operational Models and Risk Mitigation 30:50 Identifying Good Partners 32:55 Scaling Up and Future Goals 33:43 Investor and Founder Dynamics 37:09 Cultural Differences in Startups 46:40 Lab Space and Resource Challenges 49:39 Networking and Collaboration 51:57 Preparing for Global Markets Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Károly Szántó: https://www.karolyszanto.com/ Thijmen Meijer: https://www.thijmenmeijer.com/ UniPrisma: https://uniprisma.com/

    54 min
  5. EP14 - The Operating System Behind Breakthroughs: Why Venture Studios, Focus, and Execution Decide Outcomes in Healthcare

    Jan 9

    EP14 - The Operating System Behind Breakthroughs: Why Venture Studios, Focus, and Execution Decide Outcomes in Healthcare

    In this episode of Clinical Capital Conversations, Dr. Peter M. Kovacs speaks with Károly Szántó about venture studios, calculated risk, and what it really takes to turn promising innovation into execution. We cover: How a non-linear career becomes a competitive advantage Why focus beats speed in early-stage venture building The difference between high risk and calculated risk What university spinouts are missing, and how to fix it through market partnership How ecosystems change through examples, not speeches What investors should do diligence to avoid science-driven capital burn Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Timecode: 00:00 Introduction and Guest Welcome 00:26 Karoly's Career Journey 01:16 Discovering Sales and Business Development 03:46 Embracing Entrepreneurship 07:55 Building Uni Prisma Venture Studio 08:49 Venture Capital Experience 13:57 Focus on Healthcare and Impact 18:09 Challenges and Future Vision 22:49 Conclusion and Final Thoughts Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Károly Szántó: https://www.linkedin.com/in/karolyszanto1/

    24 min
  6. EP13 - Age Management Is Not HR. It Is an Execution Discipline Investors Cannot Ignore

    12/18/2025

    EP13 - Age Management Is Not HR. It Is an Execution Discipline Investors Cannot Ignore

    In this episode of Clinical Capital Conversations, Dr. Peter M. Kovacs and Pavlina Walter speak with Michaela Hrdlickova about Age Management and why workforce execution risk is one of the most overlooked variables in healthcare investing. We explore how work ability is measured, why leadership quality drives performance, and how investors can protect long-duration returns by treating human capital as infrastructure. This conversation is essential for biotech founders, healthcare investors, board members, and operators navigating long clinical timelines and execution complexity. Subscribe for more conversations at the crossroads of science and capital. Timecode: 00:00 Introduction to Misa Hrdlickova and Age Management 00:41 The Concept and History of Age Management 03:01 Implementing Age Management in Companies 05:50 Solutions and Processes for Age Management 14:07 Misa Hrdlickova's Background and Career Journey 21:24 Advice for Future Generations 23:09 Conclusion and Final Thoughts Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Michaela Hrdlickova: https://www.michaelahrdlickova.eu/ Pavlina Walter: https://www.linkedin.com/in/pavlinawalter/

    24 min
  7. EP12 - Seeing Through the Noise: The Investor Mindset That Survives Biotech Cycles

    12/11/2025

    EP12 - Seeing Through the Noise: The Investor Mindset That Survives Biotech Cycles

    In this episode of Clinical Capital Conversations, Dr. Peter M. Kovacs and Pavlina Walter speak with Ales Vavra, a former hedge fund manager known for exposing weaknesses in overhyped biotech companies. Together, they explore what investors often misunderstand about biotech risk, why due diligence fails, how AI is reshaping investment analysis, and the mindset required to survive the volatility of the sector. If you invest in biotech, medtech, or clinical infrastructure, this conversation will challenge your assumptions and sharpen your thinking. Topics covered: • The psychology that misleads biotech investors • Why execution risk matters more than scientific novelty • How AI can support diligence without replacing expertise • The danger of hype cycles in Alzheimer’s, longevity, and obesity • Why diversification and discipline outperform intuition • What separates resilient investors from speculative gamblers Subscribe to Clinical Capital Conversations for more insights at the intersection of science and capital. Timecode: 00:00 Introduction and Guest Background 01:44 Investment Strategies in Healthcare 03:13 Red Flags in Healthcare Investments 06:04 Role of AI in Investment Decisions 08:16 Advice for Healthcare Investors 12:01 Success Stories and Challenges 14:07 The Role of Sugar in Our Lives 14:55 Alcohol Consumption and Life Balance 15:43 The Hype and Reality of AI 18:40 Investment Challenges for Startups 21:48 Bitcoin and Long-Term Value 25:15 Personal Reflections and Future Outlook 26:17 Final Thoughts on Investment and Life Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Ales Vavra https://www.linkedin.com/in/ales-vavra-6423475/ Pavlina Walter: https://www.linkedin.com/in/pavlinawalter/

    27 min
  8. EP11 - AI Memory Therapy With Real Clinical Impact.

    12/04/2025

    EP11 - AI Memory Therapy With Real Clinical Impact.

    AI memory therapy is no longer a concept. It is here, clinically validated, and already helping dementia patients feel less lonely and more connected. In this episode of Clinical Capital Conversations, Peter M. Kovacs speaks with Kompanion Care founder Peter Markus about Lilia, an AI-powered therapeutic platform that combines reminiscence therapy, family-generated memories, and digital biomarkers to deliver real clinical impact. We explore: How personal loss shaped the companyWhy AI can scale proven psychotherapiesHow clinical validation creates trustWhy reimbursement is the true growth pathHow digital biomarkers will transform early detectionIf you want to understand where dementia care, digital therapeutics, and AI-driven monitoring are heading, this conversation is essential. Timecode: 00:00 Introduction and Guest Introduction 00:23 Peter Markus's Background and Career Journey 01:26 The Birth of Kompanion Care 04:31 Innovative Technology Behind Lilia Platform 11:41 Challenges and Importance of Medical Software 15:23 Current Progress and Future Plans 22:17 Investment and Market Strategy 37:28 Conclusion and Final Thoughts Subscribe to Clinical Capital Conversations for unfiltered discussions at the crossroads of science and capital. Investors, founders, and operators welcome. Links: Peter M. Kovacs LinkedIn: https://www.linkedin.com/in/petermkovacs/ Peter M. Kovacs Personal Website:https://www.petermkovacs.com/ PMK Group Website: https://www.pmk-group.com/ Guests: Péter Márkus: https://www.linkedin.com/in/pmarkus/ Kompanion Care: https://www.kompanioncare.com/

    38 min
See All (18)

About

Welcome to Clinical Capital Conversations! Join host Dr. Peter M. Kovacs, a clinical research pioneer and global investor, as he explores the intersection of science and strategic investment. Discover what it takes to transform medical innovation into scalable impact. Each episode features unfiltered conversations with clinical research leaders, biotech/medtech founders, VCs, and policymakers. Peter shares his firsthand experience, from building agile clinical trial networks to investing in disruptive health tech across Asia and Europe.

Information