Biotechnology 2004

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Biotechnology 2004

  1. 1. BiotechnologyBiotechnology Challenges and OpportunitiesChallenges and Opportunities for Womenfor Women Proactive Strategies for Advancing Women in Science ICI2004, Montreal, Canada Carol Nacy President, Sequella, Inc., Rockville, Maryland, USA
  2. 2. ““Biotechnology” TodayBiotechnology” Today  Biological products produced by recombinant DNABiological products produced by recombinant DNA techniquestechniques  Specialty drug discovery and developmentSpecialty drug discovery and development  DiagnosticsDiagnostics  IVDIVD  Molecular probesMolecular probes  ““Theranostics”Theranostics”  Life sciences InstrumentationLife sciences Instrumentation  Technology-based “platform” companiesTechnology-based “platform” companies  Stem cellStem cell  GenomicsGenomics  RNAiRNAi  Drug DeliveryDrug Delivery  AgribusinessAgribusiness  NutraceuticalsNutraceuticals Essentially anything fits the mold these days…Essentially anything fits the mold these days…
  3. 3.  1466 biotechnology companies in USA, 318 publicly traded1466 biotechnology companies in USA, 318 publicly traded  Biotech industry employed 194,600 peopleBiotech industry employed 194,600 people  Market Cap (total value of publicly-traded USA biotechMarket Cap (total value of publicly-traded USA biotech companies) iscompanies) is $311 billion$311 billion  Biotech revenues are nowBiotech revenues are now $29 billion$29 billion  Biotech is one of the most research intensive industries in theBiotech is one of the most research intensive industries in the world:world:  2002 R&D expenditures were2002 R&D expenditures were $20.5 billion$20.5 billion  2002 R&D expenditures were2002 R&D expenditures were $101,200/employee$101,200/employee Biotechnology Industry Organization (BIO)Biotechnology Industry Organization (BIO) Facts:Facts:
  4. 4. Biotech Business ModelBiotech Business Model  Business model is totally upside-downBusiness model is totally upside-down  Consume $50-100M before you break evenConsume $50-100M before you break even  Necessitates constant search for $$$Necessitates constant search for $$$  Generally run by Scientist-Founder(s)Generally run by Scientist-Founder(s)  May or may not have good business senseMay or may not have good business sense  Usually reach ‘Peter Principle’ within 3-5 years of company startUsually reach ‘Peter Principle’ within 3-5 years of company start  Wedded to first concept of company (most change focus in 3 years)Wedded to first concept of company (most change focus in 3 years)  IP generally comes from own lab (or own concept) and find itIP generally comes from own lab (or own concept) and find it difficult to accept product failure (learn to “kill” your children)difficult to accept product failure (learn to “kill” your children)  Difficult to get “management/business experience”Difficult to get “management/business experience” unless you convince VC funders of “worth”unless you convince VC funders of “worth”  Many VC “bet on the jockey, not on the horse”Many VC “bet on the jockey, not on the horse”
  5. 5. Biotechnology company positionsBiotechnology company positions currently filled by womencurrently filled by women  Executives (CEO, President, Business Development, CFO, R&D)Executives (CEO, President, Business Development, CFO, R&D)  Technician, Scientists, and Science Managers (basic and appliedTechnician, Scientists, and Science Managers (basic and applied research)research)  Program Directors (Chemistry, Microbiology, Immunology)Program Directors (Chemistry, Microbiology, Immunology)  Product Managers (vaccines, diagnostics, drugs, devices)Product Managers (vaccines, diagnostics, drugs, devices)  Manufacturing and Quality Control/Quality Assurance (productManufacturing and Quality Control/Quality Assurance (product manufacture and release)manufacture and release)  Regulatory staff and managers (work with Product Managers andRegulatory staff and managers (work with Product Managers and FDA/USDA/CDC)FDA/USDA/CDC)  Clinical Development (clinical trial design, execution, monitoring)Clinical Development (clinical trial design, execution, monitoring)  Marketing (presentations, education, preparing sales materials,Marketing (presentations, education, preparing sales materials, scientific press, actual sales)scientific press, actual sales)  Postmarketing reporting (adverse events reporting, product support)Postmarketing reporting (adverse events reporting, product support)
  6. 6. Biotechnology Company WomenBiotechnology Company Women CEOs/Presidents:CEOs/Presidents: Genetic Engineering News,Genetic Engineering News, June 2004June 2004 NameName CompanyCompany WebsiteWebsite  Sherri C. ObergSherri C. Oberg AcusphereAcusphere www.acusphere.comwww.acusphere.com  Pamela Marrone, Ph.D.Pamela Marrone, Ph.D. AgraQuestAgraQuest www.agraquest.comwww.agraquest.com  Ginger GrahamGinger Graham Amylin PharmaceuticalsAmylin Pharmaceuticals www.amylin.comwww.amylin.com  Una S. RyanUna S. Ryan Avant ImmunotherapeuticsAvant Immunotherapeutics www.avantimmune.comwww.avantimmune.com  Laureen HiggensLaureen Higgens BD Biosciences (SoAm)BD Biosciences (SoAm) www.bd.comwww.bd.com  Helen CunniffHelen Cunniff BD Biosciences (Asia)BD Biosciences (Asia) www.bd.comwww.bd.com  Cynthia FisherCynthia Fisher BioMed 20/20 TechnologiesBioMed 20/20 Technologies www.biomed2020.comwww.biomed2020.com  Barbara OsbandBarbara Osband Cambridge Biomedical ResCambridge Biomedical Res www.cambridgebiomedical.comwww.cambridgebiomedical.com  Elena HoldenElena Holden CompucyteCompucyte www.compucyte.comwww.compucyte.com  Elizabeth PankeElizabeth Panke GeneticaGenetica www.genetica.comwww.genetica.com  Ruth M. Shuman, Ph.D.Ruth M. Shuman, Ph.D. Gentra SystemsGentra Systems www.genetica.comwww.genetica.com  Mara EspinalMara Espinal Genzyme/geneticsGenzyme/genetics www.genzyme.comwww.genzyme.com  Judith Gwathmey VMD PhD.Judith Gwathmey VMD PhD. GwathmeyGwathmey www.gwathmey.comwww.gwathmey.com  Julia Greenstein, Ph.D.Julia Greenstein, Ph.D. Immerge BiotherapeuticsImmerge Biotherapeutics www.immergebt.comwww.immergebt.com  Mary Pat Moyer, Ph.D.Mary Pat Moyer, Ph.D. InCellInCell www.incell.comwww.incell.com  Janice Pero, Ph.D.Janice Pero, Ph.D. OmniGene BioproductsOmniGene Bioproducts www.omnigenebioproducts.comwww.omnigenebioproducts.com  Alison Taunton RigbyAlison Taunton Rigby RiboNovixRiboNovix www.ribonovix.comwww.ribonovix.com  Carol Nacy, Ph.D.Carol Nacy, Ph.D. SequellaSequella www.sequella.comwww.sequella.com  H. Stewart ParkerH. Stewart Parker Targeted GeneticsTargeted Genetics www.targen.comwww.targen.com
  7. 7. How Biotech Companies SurviveHow Biotech Companies Survive Business ModelBusiness Model  Smart companies use a variety of funding sources toSmart companies use a variety of funding sources to continue product development and company growthcontinue product development and company growth  Founder and “friends and family” moneyFounder and “friends and family” money  High net-worth Individuals/AngelsHigh net-worth Individuals/Angels  Small business grantsSmall business grants (SBIR, STTR)(SBIR, STTR) and other gov’t grantsand other gov’t grants (ATP, DARPA)(ATP, DARPA)  Grants from philanthropic organizationsGrants from philanthropic organizations (patient associations, etc.)(patient associations, etc.)  Corporate PartnershipsCorporate Partnerships  Loans/payment of salaries/bills with equityLoans/payment of salaries/bills with equity  Venture financingVenture financing  A significant source of money during tight financing timesA significant source of money during tight financing times is grants:is grants:  One place where scientists have edge over business execs!One place where scientists have edge over business execs!  Apply early and often: oneApply early and often: one (or more)(or more) grants each cyclegrants each cycle  Enhance your funding probability by communicationEnhance your funding probability by communication
  8. 8. Skills of Importance to BiotechSkills of Importance to Biotech  All classic scientific skills are importantAll classic scientific skills are important  MicrobiologyMicrobiology  ChemistryChemistry  Cell biologyCell biology  Animal biologyAnimal biology  PharmacologyPharmacology  All business skills are usefulAll business skills are useful  Creating a budgetCreating a budget  Developing a timelineDeveloping a timeline  Identifying milestonesIdentifying milestones  Writing clearlyWriting clearly  Cross-training (science and business) is veryCross-training (science and business) is very valuablevaluable
  9. 9. Recognize the Currency of YourRecognize the Currency of Your ProfessionProfession  DegreesDegrees  Knowledge increases with study: continue through lifetimeKnowledge increases with study: continue through lifetime  Know (and do) what you enjoyKnow (and do) what you enjoy  Don’t get Ph.D. unless you like to write!Don’t get Ph.D. unless you like to write!  Consider alternative career degrees (MBA, MPH, Biotechnology)Consider alternative career degrees (MBA, MPH, Biotechnology)  PublicationsPublications  Increases personal credibilityIncreases personal credibility  The more you write, the better you writeThe more you write, the better you write  The more you publish, the more people want to collaborate with youThe more you publish, the more people want to collaborate with you  Increases company science credibilityIncreases company science credibility  Enhances options for grant supportEnhances options for grant support (grants reviewed by academics)(grants reviewed by academics)  Validates science for VC investors/corporate partnersValidates science for VC investors/corporate partners
  10. 10. Organizations and Resources forOrganizations and Resources for Biotech Women:Biotech Women:  Biotechnology Industry Organization (BIO) (www.bio.org)Biotechnology Industry Organization (BIO) (www.bio.org) committeescommittees  Women in BioWomen in Bio (www.womeninbio.org, headquarters in Washington(www.womeninbio.org, headquarters in Washington DC, expanding from east coast)DC, expanding from east coast)  Women in BiotechnologyWomen in Biotechnology (www.womeninbiotechnology.com,(www.womeninbiotechnology.com, global, headquarters in Palo Alto, CA)global, headquarters in Palo Alto, CA)  SpringboardSpringboard ((www.springboardenterprises.org,www.springboardenterprises.org, manymany programs for entrepreneurs, national with headquarters inprograms for entrepreneurs, national with headquarters in Washington DCWashington DC))  Center for Women in EnterpriseCenter for Women in Enterprise (www.cwe.org, Boston)(www.cwe.org, Boston)

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