🧬 Growth Without Venture Capital: The Bootstrapped Bioscience Playbook | Ivan Liachko (Part 4/4)

The Biotech Startups Podcast

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Episode Description:

"It's not a brute force approach. It's a cleverness-based approach. It's a new kind of information that lets us do new things."

Host Jon Chee sits down with Ivan Liachko, founder and CEO of Phase Genomics, to unpack how clever, constraint-driven science turned a scrappy, bootstrapped lab into a genomics powerhouse. Ivan explains how their breakthrough technology—capturing the physical proximity of DNA—opened new frontiers in genome assembly, microbiome discovery, and cancer diagnostics, all propelled by a lean, scientist-led team and organic growth.

The episode dives into Phase’s evolution into a data-driven research leader, its focus on non-dilutive funding over venture capital, and its vision for clinical impact and therapeutic spinouts—all fueled by a passion for unlocking powerful new biological information.

Key topics covered:

• Constraint-Driven Innovation: Creative solutions born from limited resources.
• Breakthrough Genomic Applications: Proximity ligation transforms genome assembly, microbiome, and cancer research.
• Bootstrapping & Organic Growth: Science-driven sales and grants fuel growth—minimal outside investment.
• Strategic Vision & Spinouts: Building a research powerhouse and launching new ventures from unique data.
• Advice for Scientists & Founders: Prioritize complementary teams, embrace uncertainty, and stay passionate.

If you enjoy The Biotech Startups Podcast, please consider subscribing, leaving a review, or sharing it with your friends. Thanks for listening.

Subscribe to the Podcast:

Apple: https://podcasts.apple.com/us/podcast/the-biotech-startups-podcast/id1679591994

Spotify: https://open.spotify.com/show/2PSL162R2s0zOwU5913Zv4

Youtube: https://www.youtube.com/@thebiotechstartupspodcast

Website: https://www.thebiotechstartupspodcast.com/

Find our guest, Ivan Liachko, at these links:

LinkedIn: https://www.linkedin.com/in/ivan-liachko-%F0%9F%87%BA%F0%9F%87%A6-a333055a/

Website: https://www.linkedin.com/company/phase-genomics-inc/

Find our host, Jon Chee, at these links:

LinkedIn: https://www.linkedin.com/in/jonchee

Learn more about Excedr:

LinkedIn: https://www.linkedin.com/company/excedr/

Website: https://www.excedr.com

Intro & Outro Songs Created by OkKyojin, Owned by Excedr:

Website: https://flow.page/kyojin

Resources & Articles:

ARK Invest Podcast: https://www.ark-invest.com/podcast/phase-genomics

Hi-C Technology: https://phasegenomics.com/category/hi-c/

CytoTerra Platform: https://phasegenomics.com/products/cytoterra/

Next-Generation Cytogenomics Platform: https://www.businesswire.com/news/home/20211018005750/en/Phase-Genomics-Announces-Next-Generation-Cytogenomics-Platform-to-Advance-Precision-Diagnosis-and-Treatment-in-Reproductive-Genetics-and-Oncology

The Genetics Podcast: https://sanogenetics.com/resources/genetics-podcast

Clinical Chemistry Podcast: https://podcasts.apple.com/us/podcast/more-than-a-decade-of-rapid-genomic-sequencing/id499883130?i=1000651557537

Companies, Universities, & People mentioned:

Phase Genomics: https://phasegenomics.com

University of Washington: https://www.washington.edu/

Gates Foundation: https://www.gatesfoundation.org/

Grantham Foundation: https://www.granthamfoundation.org/

Stephen Eacker: https://www.linkedin.com/in/stephen-eacker-a657177b/

Jonathan Eisen: https://www.linkedin.com/in/jonathaneisen/

Timestamps:

00:00 Intro

02:08 Phase Genomics’ Three Core Applications

08:27 Meeting Co-founder and Early Team Formation

11:28 Bootstrapping with eBay Lab Gear

12:55 Scrappy, MVP-Driven Product Development

17:02 Core Customers and Clinical Use Cases

22:34 Evolving into a Research Institute with Spinouts

25:29 Non-dilutive Funding and Fundraising Approach

29:59 Clinical Vision and Anti-infective Focus

31:33 Shout-outs and Advice for Young Scientists

32:59 Staying Passionate Through Uncertainty

33:54 Outro

The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.