In this episode of the Nucleate Podcast, Raj Devraj, a venture partner at Atlas Venture and CEO of Rectify Pharmaceuticals, shares his remarkable journey from growing up in India to becoming a seasoned drug hunter and biotech entrepreneur. Drawing from his extensive experience at Pfizer and multiple successful biotech startups, Raj discusses the challenges of navigating the current risk-averse capital market, emphasizing the importance of being capital efficient, following the science, and having a clear target product profile. He details the founding of Rectify, a platform company developing positive functional modulators for membrane proteins, highlighting their strategic pivot to focus on hepatobiliary diseases like primary sclerosing cholangitis. Throughout the conversation, Raj provides invaluable advice for entrepreneurs, stressing the need for resilience, courage, and innovation, while underscoring the critical role of building strong relationships, maintaining scientific rigor, and always keeping the end goal of developing transformative therapies for patients in mind.