Strategic Intent: How Circio Rebuilt Itself Around Circular RNA

Most biotech companies spend their time creating value. Far fewer have to figure out how to rebuild it. Erik Wiklund, CEO of Norwegian biotech Circio, has done both.

Three and a half years ago, Circio ended its legacy oncolytic virus and cancer vaccine programs and pivoted to circular RNA, while it still had the resources to do so. The share price fell about 98%, the team shrank to eight people, and the company survived on convertible notes. Today it has a valuation of roughly $350 million, a funded collaboration with a top-five pharma company, and cash to last four to five years.

In this episode, Wiklund joins David Wild, senior reporter at In Vivo, to discuss:

• Why circular RNA is drawing big investment and acquisitions, and how Circio’s vector-based approach differs from the field

• How to decide when to abandon legacy assets, and why timing matters

• Lessons on investor relations, retail shareholders and news flow for listed biotechs

• Why Circio is exploring China’s IIT pathway for first-in-human data

• Why platform companies may fit public markets better than VC-backed, asset-centric models

Strategic Intent is the flagship podcast from the teams at Scrip, In Vivo and Medtech Insight.