Essays · The Hillman Letter · Long-form
Long-form essays on FDA, frontier therapeutics, and capital. Operator notes from inside the work.
Weekly long-form essays on FDA regulatory strategy, frontier therapeutics, and capital decisions in healthcare. Subscribe at thehillmanletter.substack.com.
Why most exosome programs choose the wrong FDA pathway and what that costs them. Published essay covering minimal manipulation, homologous use, and the BLA route.
Why patient capital fits FDA-regulated biotech better than venture timelines. Structuring investments around regulatory milestones rather than fundraising rounds.
Six documentation patterns that show up before federal healthcare enforcement. Practical content for compliance officers and in-house counsel.
Targeted Osmotic Lysis explainer. The mechanism behind TOL, the an academic medical foundation partnership, and what it means for chemotherapy-free oncology.
The Dallas biotech ecosystem, the operator network, and why this is the place to build regulated healthcare today.
The Hillman Letter weekly essays. thehillmanletter.substack.com
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by Andrew Hillman, with Beverly Levine · Business & Entrepreneurship · Published July 2026
Last Part Standing is the account of three generations inside Midway Auto Supply, a Dallas family business founded in 1959 and closed in 2020. Part family history, part business post-mortem, it draws ten lessons on adapting to industry change, family conflict, financial discipline, and succession that entrepreneurs and family-business owners can use.
Available as Kindle eBook ($9.99) and Paperback ($12.99, 58 pages).