Exosome and mesenchymal stem cell derived extracellular vesicle products are not approved by the FDA for any indication. Content on this page is educational and describes published scientific literature. It does not describe an available treatment, it does not report results in patients, and it does not offer access to any therapy.

Essays · The Hillman Letter

Operator notes from inside regulated medicine.

Long-form writing on FDA regulatory strategy, frontier therapeutics, family office capital, and healthcare compliance. Thirty years of operating experience translated into essays you can read in twenty minutes. Seven essays published. New essays weekly.

White Paper · July 2026 · Federal & State Healthcare Law

The Architecture of Compliance: Federal and State Healthcare Law for the Practicing Physician

The False Claims Act, Anti-Kickback, Stark, HIPAA, EKRA, and qui tam whistleblower exposure, and the infrastructure that turns statutory knowledge into a defensible compliance record.

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Essay · 2026-06-11 · 1450 words

The NextMed Settlement Is a Roadmap. Read It Before You Build the Next Telehealth Brand.

The FTC just handed the telehealth industry an inspection checklist.

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Essay · 2026-06-11 · 1380 words

The Specific Pattern That Killed Five Biotech Programs I Personally Watched

The pattern was the same across five programs. In case you are running one of the next ones.

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Essay · 2026-06-10 · 1410 words

Why Dallas Is Quietly Becoming the Right Place to Build FDA-Regulated Biotech

The Dallas-Fort Worth biotech ecosystem has been compounding for three decades.

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Essay · 2026-06-09 · 1320 words

The 351 vs 361 Decision That Kills Most Exosome Programs

Why most exosome programs pick the wrong FDA pathway, and what the BLA route actually demands.

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Essay · 2026-06-08 · 1280 words

Why Family Office Capital Fits FDA-Regulated Biotech Better Than Venture Money

A ten-year venture fund has to return capital on a schedule. The FDA does not care about your schedule.

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Essay · 2026-06-07 · 1380 words

The Six Documentation Patterns That Show Up Before Federal Healthcare Enforcement

Every enforcement action I have served on involved a pattern visible eighteen to thirty-six months before.

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Essay · 2026-06-12 · 1480 words

What Thirty Years of Operating in FDA-Regulated Healthcare Actually Taught Me

Five lessons I would tell my younger self if I could.

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