Naji Gehchan: Welcome to SpreadLove in Organizations, the healthcare leadership podcast where we explore leadership with purpose.
This episode is in partnership with the Termeer Foundation, a nonprofit organization working to connect and empower healthcare innovators until every patient has a cure.
I’m Naji, your host, and today I’m joined by Kristina Masson, a global biotech executive, entrepreneur, and scientist with extensive experience in company building, translational drug development, and operational leadership.
Kristina is Co-Founder and Executive Vice President of Business Operations at Acrivon Therapeutics, where she leads key business operations and works closely with the CEO and executive team to scale the organization and drive corporate execution.
Since co-founding the company, she has helped grow Acrivon from an early-stage startup into a publicly traded biotech company with more than 80 employees, while building high-performing teams and an integrated U.S.–Scandinavian organizational culture.
In parallel, Kristina serves as President and CEO of Acrivon AB, the company’s wholly owned Swedish research subsidiary, where she oversees European operations and scientific infrastructure.
Prior to her current roles, Kristina founded OncoSignature AB, a biotechnology company focused on biomarker discovery that was later acquired by Acrivon Therapeutics and became foundational to the company’s proprietary technology platform.
Earlier in her career, she was a Principal Scientist at Merrimack Pharmaceuticals and completed her postdoctoral fellowship at the Broad Institute of MIT and Harvard, conducting research at the intersection of molecular biology and systems science.
Kristina holds a PhD in Molecular Signaling and an MSc in Biomedicine from Lund University, as well as an Executive MBA from the MIT Sloan School of Management. She also serves as a mentor with the Termeer Foundation.
Kristina, it’s great to have you with me today on the show.
Kristina Masson:
Thank you, Naji. It’s a pleasure to be on your show, and thank you for the wonderful introduction.
Thank you as well for what you’re doing. It’s a really impressive and important mission, and I appreciate the impact your podcast is having.
Naji Gehchan:
Thank you. I’m really excited to get to know you better, hear your personal story, and learn what drew you toward science, biotech, and ultimately building companies.
Kristina Masson:
Thank you. I’m happy to share.
I’m Swedish, born and raised, as you mentioned in the introduction. I was inspired from a very young age by my father, who was a scientist. He’s originally from India, so I’m half Indian and half Swedish.
As a child, I loved listening to his stories about nature, and I always enjoyed spending time outdoors. That’s also a big part of Scandinavian culture.
From a young age, I knew I wanted to pursue science. Later, as a young adult, I became especially fascinated by cancer research because, unfortunately, cancer touches all of us in one way or another.
I wanted to do science that could truly make a difference. Early on, I decided to pursue a PhD to build a strong scientific foundation, but I also knew that I wanted to move into biotech relatively quickly so I could apply the science and help patients more directly.
That’s what ultimately brought me into this field.
Naji Gehchan:
Can you tell me more about that transition from academia to entrepreneurship? How did you build your first company and eventually help take it public?
Kristina Masson:
Absolutely.
During my postdoctoral fellowship at the Broad Institute in Boston, I had the privilege of working on a highly cross-functional drug development program that was closely connected to how biotech and pharmaceutical companies develop medicines.
My principal investigator was very supportive and knew that my goal was to transition into industry. After my postdoc, I joined a biotech company where I had the opportunity to do hands-on science.
It was a wonderful experience, but I always had the ambition to build something of my own.
That was my first step—from academia into biotech—and about ten years ago I made the leap into entrepreneurship.
That’s when I partnered with my co-founder, Peter Blume-Jensen, who is now CEO of Acrivon Therapeutics.
We both had backgrounds in molecular signaling and cancer biology, and we shared the belief that precision medicine could be significantly improved by focusing on proteomics and phosphoproteomics, rather than relying primarily on genetic information.
When we completed our PhDs many years earlier, the scientific concept already existed, but the technology simply wasn’t advanced enough. It lacked the resolution and throughput needed to build a company around it.
By the time we reconnected ten years ago, the technology had finally caught up with the science.
We travelled to Copenhagen to meet Professor Jesper Olsen, one of the world’s leading experts in phosphoproteomics, and together we realized the timing was right. Jesper became our third co-founder.
Looking back, entrepreneurship was really about timing. The ideas had always been there. The science had always been there. But eventually the people, the technology, and the opportunity all aligned—and that’s when we decided to build the company.
Naji Gehchan:
I love that.
Before we talk more about the entrepreneurial journey, I’d love to understand the technology itself.
What makes it different, and what is Acrivon focused on as a company?
Kristina Masson:
Certainly.
Today we have a fully developed platform called AP3, which stands for Acrivon Predictive Precision Proteomics.
The platform is designed to accurately measure what happens inside a cancer cell after treatment with a drug.
Using proteomics, phosphoproteomics, and high-resolution mass spectrometry, we can measure, in an unbiased way, virtually every activation event occurring inside a tumour cell in response to therapy.
In many ways, it creates a detailed molecular fingerprint of a drug.
We can see which pathways it activates, which pathways it inhibits, and how cells respond. That allows us to identify highly predictive biomarkers, understand mechanisms of resistance, and design rational drug combinations that maximise efficacy while minimising toxicity.
The platform also helps us identify which patient populations and disease indications are most likely to benefit from a specific therapy.
Ultimately, it’s all about improving precision medicine—getting the right treatment to the right patient while reducing unnecessary side effects.
Today we’re focused primarily on oncology drug development, but the platform itself is completely indication-agnostic and drug-modality agnostic. We’re already expanding beyond oncology.
Naji Gehchan:
As you were describing the platform, my mind immediately went to immunology. We treat so many diseases without fully understanding what’s happening at the cellular level.
Do you think of AP3 as a companion to the drugs themselves? How do you frame it within the drug development process?
Kristina Masson:
That’s a great question.
Initially, that was the primary purpose of the platform—to develop companion diagnostics. We used it to create a three-marker test for our lead asset, ACR-368, allowing us to identify the patients most likely to respond and better stratify clinical trials.
As we continued developing the platform, however, we realized it could do much more.
Beyond identifying response-predictive biomarkers, it allows us to screen for the most appropriate disease indications—and even specific disease subtypes—before a clinical trial begins. If we already know that certain patient populations naturally express the relevant biomarkers, we can design smarter trials from the outset, sometimes even avoiding the need for additional biopsies.
Our ultimate goal is to accelerate drug development while maximizing patient benefit. The more knowledge we have before entering the clinic, the faster and more efficiently we can develop therapies.
Companion diagnostics remain an important application, but it’s only one part of what the platform can do.
Another important aspect is that AP3 is drug-tailored. Everything begins with the drug itself. Whether we in-license a compound or discover it internally, we use the platform to better understand its biology and optimize its development strategy.
Today we’re developing our own drug candidates and applying AP3 throughout the discovery and development process to make smarter decisions at every stage.
Naji Gehchan:
So you also have your own discovery engine and research teams?
Kristina Masson:
Yes, we do.
Our Swedish subsidiary, which you mentioned earlier, is fully dedicated to drug discovery. We have a team of sixteen scientists focused on our early-stage pipeline.
One of those programs, ACR-2316, was developed internally through medicinal chemistry, structural biology, and insights generated from the AP3 platform. That program is now in Phase I clinical development.
We’re also advancing a second internally discovered program, a CDK11 inhibitor, which is currently in IND-enabling studies.
So we’re not only building the platform—we’re also using it to create our own pipeline.
Naji Gehchan:
That’s fascinating because very few companies combine all those capabilities.
You’re developing a precision medicine platform, building companion diagnostics, discovering your own therapeutics, and managing teams across both the United States and Scandinavia.
How do you lead across all those different dimensions—early science, diagnostics, therapeutics, and cross-cultural collaboration?
Kristina Masson:
When you put it that way, it certainly sounds ambitious.
But I genuinely enjoy working at those intersections.
When we started the company ten years ago, everything began in Sweden. Our vision was always to translate cutting-edge science into meaningful patient impact.
We established our scientific infrastructure there because we were close to both the technology and the expertise in mass spectrometry, and we also benefited from a very supportive innovation ecosystem.
As the company grew, we established our headquarters in the United States. Peter and I had both trained here, built strong professional networks here, and recognized that the U.S. offered access to capital, talent, clinical development, and the broader biotech ecosystem.
From the beginning, we’ve tried to combine the strengths of both countries.
Even when we were only a handful of people, we intentionally built the company as one global team.
Long before the COVID-19 pandemic, we relied heavily on Zoom and virtual collaboration because we had no alternative. We developed our company values together across both sites, and we continue to operate as one organization rather than two separate offices.
At the same time, we strongly believe in bringing people together in person.
Every year the entire company gathers, and throughout the year we regularly exchange team members between Sweden and the U.S. so they can work alongside one another, build relationships, and better understand each other’s perspectives.
Creating one cohesive culture doesn’t happen automatically. It requires intention, consistency, and continuous investment.
Naji Gehchan:
Absolutely.
As a leader, how do you personally divide your time between the two countries?
Kristina Masson:
I spend most of my time in the United States, where I support the executive team, the broader organization, corporate strategy, and the Board.
Roughly thirty percent of my time is spent in Sweden, where I wear my CEO hat for the subsidiary.
The Swedish organization is smaller, and I have an outstanding leadership team there that allows the organization to operate very effectively when I’m not physically present.
That balance has worked very well for us.
Naji Gehchan:
You started this company ten years ago with a small team, and today it’s a publicly traded biotech company.
What has that journey been like?
What has changed? What have you enjoyed the most, and what has become more challenging for someone going through that entrepreneurial journey?
Kristina Masson:
The challenges have changed significantly over time.
In the early days there was much more uncertainty. We always had a clear scientific vision, but there were many possible paths forward.
Should we become a platform company? A therapeutics company? Or both?
Those strategic questions weren’t obvious in the beginning, and we had to discover the answers as we grew.
There was more freedom then—but also considerably more risk.
As the company expanded, one of the most rewarding moments was being able to hire people who were even better scientists than I was. Watching exceptional teams form and seeing a culture develop around shared values has been incredibly fulfilling.
Today the stakes are much higher.
You’ve invested years of work, resources, and belief into something that matters deeply to you. The further you progress, the greater the responsibility becomes.
At the same time, we’re beginning to see our science make a real difference for patients.
That has always been my dream—to see our work translate into patient impact.
When you finally start seeing that happen, it makes every challenge worthwhile.
Naji Gehchan:
As you see your dream becoming reality—your science making an impact for patients—when you think about the future of precision medicine, oncology, and biotech innovation, what gives you the most hope over the next ten years?
Kristina Masson:
I’m actually very optimistic.
Not only because of what we’re doing at Acrivon, but because of the incredible work being done across the biotech industry and in academic research.
We’ve already seen remarkable progress in oncology. Diseases that were once considered untreatable are now curable for many patients. Every year we continue to move the field forward.
I’m also encouraged by the continued advancement of precision medicine. Being able to deliver the right treatment to the right patient while avoiding unnecessary toxicity is incredibly meaningful.
That hope is also what motivates me every day. When we have strong science, talented people, and the opportunity to improve patients’ lives, I believe we have an obligation to make it work.
Naji Gehchan:
I’m going to give you a few words, and I’d love your first reaction to each one.
The first is leadership.
Kristina Masson:
Accountability.
That’s the first word that comes to mind.
It’s also one of our company’s core values. It may sound simple, but to me leadership is about taking ownership.
Everyone is a leader within their own sphere of influence. Leadership means owning your decisions, your opinions, your actions, and the consequences that come with them.
Not every decision will be popular, and not everyone will agree with you. But if you’re willing to take responsibility for your choices and stand behind them, I believe that’s one of the most important qualities of a leader.
Naji Gehchan:
I really like that distinction between accountability and ownership.
Every decision is ultimately a choice—not only about what you do, but also about what you choose not to do.
The second word is EMBA.
Kristina Masson:
I love that one.
The word that immediately comes to mind is impact.
You can acquire knowledge and become highly skilled as a leader or entrepreneur, but true impact is about taking your work beyond yourself.
It’s about creating something that lasts.
That impact may come from building a company, or it may come from encouraging someone earlier in their career who later goes on to accomplish remarkable things.
You never really know which actions will have the greatest impact.
The Executive MBA experience—and especially the relationships that continue long after graduation—creates opportunities for those moments.
Sometimes a single conversation can spark entirely new ideas that ultimately make a significant difference.
Naji Gehchan:
I love what you said about taking it beyond yourself.
Have you figured out what you want your own legacy to be?
Kristina Masson:
Maybe.
At least I know what I hope it will be.
I want my leadership to be remembered for wisdom and kindness.
Kindness is not a word we hear often when discussing leadership today. There are countless books and frameworks describing what leaders should be, but kindness is rarely highlighted.
To me, kindness is not incompatible with being demanding or ambitious.
You can be an exceptional business leader, make difficult decisions, and hold very high standards while still treating people with kindness.
Those qualities are not mutually exclusive.
Leadership is already difficult. Kindness simply makes the journey better for everyone involved.
Naji Gehchan:
What about the Termeer Foundation?
Kristina Masson:
The Termeer Foundation reflects something that is also central to your podcast.
It’s about supporting people and organizations that are committed to improving patients’ lives.
What I appreciate most is that patients always come first.
It’s easy to become fascinated by the science itself—we all love great scientific ideas—but we should never lose sight of why we’re doing the work.
The ultimate goal is making sure our science reaches patients and changes lives.
That’s what matters most.
Naji Gehchan:
You actually touched on my final word already, but I’ll ask it anyway.
Spread Love in Organizations.
Kristina Masson:
I can only applaud what you’ve created.
I think it’s wonderful that you continue these conversations every week.
Listening to leaders share their experiences is inspiring. It gives me hope.
My word would actually be hope.
Hope that we can continue solving incredibly difficult problems, leading organizations through enormous challenges, and still do it with compassion.
Love and high performance are not mutually exclusive.
In fact, I think they strengthen each other.
Naji Gehchan:
That’s wonderful. Thank you for those kind words.
Before we close, is there one final piece of wisdom you’d like to leave with leaders?
Kristina Masson:
I would simply encourage leaders to remain authentic.
Today’s world offers endless opportunities, but also endless distractions and temptations.
Authenticity and integrity matter more than ever.
You’ll face difficult decisions throughout your career, but if you stay true to your values and lead with integrity, you’ll navigate those challenges far more successfully.
Leadership is already difficult.
It’s much harder when you’re trying to be someone you’re not.
Naji Gehchan:
Kristina, thank you so much for joining me today. This has been a wonderful conversation.
Kristina Masson:
Thank you, Naji. It’s been a pleasure.
Naji Gehchan:
Thank you for listening to Spread Love in Organizations.
You can find more episodes produced in partnership with the Termeer Foundation on our platform.
Naji Gehchan: Thanks for listening to the show! For more episodes, make sure to subscribe to Spreadloveio.com or wherever you listen to your podcasts. Let’s inspire change together and make a positive impact in healthcare, one story at a time.
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