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All-In's Best Ideas Pitch Competition: 4 Investors Present Their Top Trades Live
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EcoR1 Capital's Oleg Nodelman pitches Aktis Oncology
At 32:00 · chapter starts 27:19
Oleg Nodelman uses a military analogy to explain the history of cancer treatment before pitching Aktis Oncology — a radiopharmaceutical biotech with clinical data due in 2027 and Eli Lilly as a strategic backer.
EcoR1 Capital has returned 10x to investors since its 2013 inception, compounding at 20% annually, growing from $13M to $2.5B AUM.
Chemo is carpet bombing. Immunotherapy is recruiting local allies. Radiopharmaceuticals are micro drones: 2-centimeter precision, single-cell blast radius, autonomous targeting. Aktis Oncology has built the platform to deliver any radioactive payload to any target — and the data readout is less than a year away.
Talen Energy owns 2 gigawatts of nuclear power and 6 gigawatts of natural gas baseload power.
Talen Energy trades at a $25B enterprise value versus a $45B replacement cost. At 7x free cash flow on a $50/share FCF base, with comparable infrastructure at 15x, the equity should more than double just doing nothing. If power prices rise and data center deals accelerate, you get $1,050.
Talen Energy can be purchased at a $25B enterprise value while its replacement cost is $45B, implying the equity alone should more than double just to reach replacement cost.
