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The FDA approved BridgeBio's first drug, for a disease that affects 100 children in the US and Europe.
BridgeBio mitigates risk with a "hub-and-spoke" model, with a central management team and subsidiaries.
The model is gaining in popularity in biopharma and could reshape drug R&D, McKinsey & Co. says.
It wasn't that long ago that the idea behind BridgeBio drew laughter from biotech and finance experts.
But these days, CEO Neil Kumar says he's taking calls from industry insiders interested in launching companies emulating the BridgeBio model. If it helps patients, he's willing to guide rivals.