Two Natural Cap

MaxCyte: Powering Ex-Vivo Gene Editing $mxct

Casgevy, Allogeneic CAR-T, and Electroporation Technology

Sep 4 • 

Two Natural Capital

3

July 2025

Maravai: Can an mRNA Capping Provider Move Beyond Covid? $mrvi

mRNA, Biologics Safety Testing, and Cell/Gene Therapy

Jul 25 • 

Two Natural Capital

2

June 2025

CAR-T Therapy: How Can CRISPR Help?

Donors Cells, Immune System Evasion, AvenCell/Intellia/CRISPR Therapeutics

Jun 25 • 

Two Natural Capital

1

CRISPR Comes Back to Life

Baby KJ, LNPs, and Danaher

Jun 11 • 

Two Natural Capital

1

May 2025

Casey’s General Stores: A Dollar General Approach to Gas Stations $casy

Pizza, Buc-ee’s, Expansion, and Zyn

May 7 • 

Two Natural Capital

4

April 2025

In Situ Sequencing: 10x Genomics, NanoString, and Vizgen $txg $brkr

Lawsuits, Sensitivity/Specificity, and Mouse Brains

Apr 25 • 

Two Natural Capital

2

Illumina: What Does a Hypothetical Bull Case Look Like? $ilmn

The Single-Cell and Spatial Opportunity

Apr 10 • 

Two Natural Capital

7

3

March 2025

Solid BioSciences, Sarepta, and Regenxbio ($sldb, $srpt, $rgnx)

Gene therapies for the largest gene in the body, protein-protein interaction choices, and the importance of capsid design.

Mar 19 • 

Two Natural Capital

February 2025

Blackstone: A Test in Generating Alpha at Scale $bx

Perpetual Capital, Private Credit, and the Power of a Brand Name

Feb 27 • 

Two Natural Capital

2

January 2025

PacBio $pacb

Long-read vs Short-read, Cancer Testing, and Debt Paydown vs Innovation

Jan 23 • 

Two Natural Capital

1

December 2024

Sarepta Therapeutics: From Exon-Skipping to Gene Therapy $srpt

Business model shifts, incentives to innovate, and a flywheel for rare diseases

Dec 12, 2024 • 

Two Natural Capital

3

October 2024

Sophia Genetics: The Benefits/Drawbacks of Sequencer Agnosticism $soph

Akre Capital, Illumina/Ultima/Element, and Data-Driven Healthcare.

Oct 30, 2024 • 

Two Natural Capital

5

4