From Sequencing the Human Genome to Venture Capital: Biotech Lessons with Peter Barrett, Atlas Venture

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Summary

Peter Barrett, PhD is a Partner at Atlas Venture, co-founder of Celera Genomics, and board member of Nucleate
Peter discussed his career journey, from starting in a technical role at Perkin Elmer to co-founding Celera Genomics and being part of the team that first sequenced the human genome.
He then transitioned to venture capital, joining Atlas Venture, where he has focused on building and investing in innovative therapeutic and drug discovery companies.
He shared insights on Atlas' approach, including their focus on targeted, therapeutics-only funds, their emphasis on diligence and de-risking early stage science, and their willingness to celebrate failures and redeploy talented founders.
He also discussed Atlas' strategy of identifying platform technologies with broad applicability, like the cell therapy platform at Obsidian Therapeutics. He gives tips to founders to celebrate failures to learn from them and the importance of honesty and transparency rather than “faking it ‘til you make it”

02:42 - Peter discusses lessons from his early career at Perkin Elmer and transitioning from a technical to business role

07:57 - Peter talks about co-founding Celera Genomics and the experience of sequencing the human genome

14:41 - Peter describes his transition from Celera to venture capital at Atlas Venture

18:03 - Peter discusses learning about the drug development process and relying on expertise when making investment decisions

21:09 - Peter emphasizes the importance of "celebrating failures" and making informed decisions to avoid wasting time

26:37 - Peter explains Atlas Venture's investment strategy and approach during market downturns

29:30 - Peter discusses identifying platform technologies and de-risking early stage science

41:07 - Peter provides advice for entrepreneurs and reflects on balancing career and personal life