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.
Exosome and mesenchymal stem cell derived extracellular vesicle products are not approved by the FDA for any indication. The work referenced here describes published scientific literature. It does not describe an available treatment.
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 the regulatory pathway it follows.
Targeted Osmotic Lysis is investigational. It has not been approved by the FDA for any indication and it is not available as a treatment.
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
Long-form LinkedIn articles. linkedin.com/in/andrew-hillman-dallas
Coverage and podcast appearances logged at andrew-hillman.com/coverage.
For media or interview requests: [email protected].
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).