Career Options for
the Professional Life Scientist



                       Fred Hutchinson
                    Cancer Re...
Summary

l   Do we produce too many science PhDs?
    –   Disconnect between science education and
        career opportun...
Are There Too Many PhDs?

l   The dirty secret of higher education is that without underpaid graduate
    students to help...
Many of the Newly Minted PhDs are in
Biological Sciences and Engineering
The PhD Enhances Earning Potential
        and Employability
Most Life-science PhDs do
 Postdoctoral Research
Traditional Career Paths for
      the PhD Scientist

Academic Career        Industry Career

                         BS
...
Disconnect between University
Education and Science Career Options

l   Historically, academic institutions have not
    p...
Disconnect between University
Education and Science Career Options

l   Students are entering universities to pursue
    a...
1980 – A Seminal Year for
                Biotechnology




l   370 US licensees (non-exclusive)
l   Est. $200MM in licens...
1980 – A Seminal Year for
                 Biotechnology

                 1980
l   Bayh-Dole Act
    (University and Smal...
1980 – A Seminal Year for
                Biotechnology


             1980
l   Diamond v. Chakrabarty
    (Supreme Court)...
Shift in Focus of Research Efforts
    toward Commercialization

l   The Problem of Publish or Perish
    –    Tragedy of ...
Shift in Focus of Research Efforts
    toward Commercialization

                  l   Howard Schachman,
                 ...
Shift in Focus of Research Efforts
     toward Commercialization

l   Patent and Prosper
    –   The incentive of companie...
US National Biotech Clusters
The revenue for worldwide publicly-traded biotechnology companies
increased 12% to $89.7 billion in 2008.
Market Capitalization
Top 3 US Market Capitalization (10/07)

l   Exxon Mobil Corp., $511B
l   General Electric, $414B
    TOTAL BIOTECHNOLOGY W...
The Biotechnology Industry
             Operates at a Loss

l   In 2008, the global biotech industry lost $1.4
    billion...
The Major Players in Biotechnology

     Sources of Financing
                                              Sources of Tec...
Biotech Companies Require
        Cross-disciplinary Expertise

                        Technology
                       ...
The PhD is Central to Many
                 Science Career Paths

                                   Academic Science
    ...
A Few Thoughts on Strategy

l   Opportunity Cost of Education
    –   For every additional step in your education, keep
  ...
Make Yourself Uniquely Qualified

l   Take a Cross-disciplinary Approach
    –   Professionally
         l   Work at the i...
Systems Biology Exemplifies the
Interface between Technologies
Identify Thought Leaders

              l   Founded in 2000 by Lee
                  Hood, Alan Aderem, and
              ...
Networking

l   Networking is the on-going process of
    relationship building
     – Life-long, persistent, goal and res...
Networking

l   Starts at the university level
     – Attend seminars and networking events outside
       your department...
Networking

l   Continue throughout your career
    – Trade and professional meetings
    – Entrepreneur networks
    – Te...
Some Parting Words of Wisdom

l   When one door closes, another opens. But we often
    look so long and so regretfully up...
Thank you!


    Gary M. Myles, J.D., Ph.D.
    Schwabe, Willamson & Wyatt
    gmyles@schwabe.com
    (206) 407-1513
A Brief History of Biotechnology
Early Developments Leading to
                      the Biotech Industry


             1953
l   Double Helix Structure
  ...
Early Developments Leading to
                    the Biotech Industry


           1956
l   DNA Polymerase I
    (Pol I)
...
Early Developments Leading to
                       the Biotech Industry

            1967
l   DNA Ligase
l   Martin Gell...
Early Developments Leading to
                 the Biotech Industry


           1970
l   Restriction
    Endonucleases
l ...
Early Developments Leading to
                    the Biotech Industry


           1973
l   Recombinant DNA
l   Cohen and...
Early Developments Leading to
                     the Biotech Industry


            1975
l   Monoclonal Antibodies
l   K...
Early Efforts to Commercialize
                   Biotechnology Products


            1976
l   Founding of Genentech
    ...
Early Efforts to Commercialize
                     Biotechnology Products


           1978
l   Biogen
l   Phil Sharp and...
Early Efforts to Commercialize
                   Biotechnology Products


            1980
l   AMGen (Applied
    Molecul...
Modern Day Biotechnology
Worldwide Biotech Clusters
Biotech Drug Discovery Process
                 Timeline




l   $1.2Billion: The average cost to commercialize one
    bi...
Career Options Life Scientist 04Jun10
Career Options Life Scientist 04Jun10
Career Options Life Scientist 04Jun10
Career Options Life Scientist 04Jun10
Career Options Life Scientist 04Jun10
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Career Options Life Scientist 04Jun10

  1. 1. Career Options for the Professional Life Scientist Fred Hutchinson Cancer Research Center June 4, 2010 Gary M. Myles, J.D., Ph.D. Shareholder Schwabe, Williamson & Wyatt Seattle, Washington
  2. 2. Summary l Do we produce too many science PhDs? – Disconnect between science education and career opportunities – Central role of PhD in many science careers l A brief history of biotechnology – Merging of academic and commercial pursuits l Biotechnology opportunities for the professional scientist
  3. 3. Are There Too Many PhDs? l The dirty secret of higher education is that without underpaid graduate students to help in laboratories and with teaching, universities couldn’t conduct research or even instruct their growing undergraduate populations. That’s one of the main reasons we still encourage people to enroll in doctoral programs. It is simply cheaper to provide graduate students with modest stipends and adjuncts with as little as $5,000 a course — with no benefits — than it is to hire full-time professors. l In other words, young people enroll in graduate programs, work hard for subsistence pay and assume huge debt burdens, all because of the illusory promise of faculty appointments. But their economical presence, coupled with the intransigence of tenure, ensures that there will always be too many candidates for too few openings. Mark C. Taylor, “End the University as We Know It” New York Times, 26Apr09
  4. 4. Many of the Newly Minted PhDs are in Biological Sciences and Engineering
  5. 5. The PhD Enhances Earning Potential and Employability
  6. 6. Most Life-science PhDs do Postdoctoral Research
  7. 7. Traditional Career Paths for the PhD Scientist Academic Career Industry Career BS BS MS MS PhD PhD Post Doc Post Doc Scientist Assistant Professor Senior Scientist Associate Professor Assistant Director Professor Director Department Head Senior Director Dean Vice President Chief Scientific Officer
  8. 8. Disconnect between University Education and Science Career Options l Historically, academic institutions have not promoted non-academic career paths for professional scientists – Little cross-disciplinary teaching at the undergraduate and graduate levels l Between technologies l Between professions (science/business/law) – Little counseling about or practical exposure to non-academic career options for scientists – Tendency to stigmatize students who express an interest in non-academic science careers
  9. 9. Disconnect between University Education and Science Career Options l Students are entering universities to pursue academic science careers often overlook, discount, or are unaware of the low probability that they will stay in academic science l Students are leaving universities without a vision for non-academic science careers
  10. 10. 1980 – A Seminal Year for Biotechnology l 370 US licensees (non-exclusive) l Est. $200MM in licensing revenue
  11. 11. 1980 – A Seminal Year for Biotechnology 1980 l Bayh-Dole Act (University and Small Business Patent Procedures Act) l Birch Bayh and Bob Dole l Basis for university technology transfer l Intellectual property arising from federal government- funded research controlled by US universities, small businesses, and non-profits
  12. 12. 1980 – A Seminal Year for Biotechnology 1980 l Diamond v. Chakrabarty (Supreme Court) l Patentability of living, genetically engineered microorganisms under 35 U.S.C. § 101 l “Anything under the sun that is made by man”
  13. 13. Shift in Focus of Research Efforts toward Commercialization l The Problem of Publish or Perish – Tragedy of Freedom in the Commons l When a resource is open to all it becomes available to no one Garrett Hardin, “The Tragedy of the Commons” Science 162:1243-1258 (1968) l “This concept is readily adapted to the quandary that the great discoveries in biomedical research in the 1960s and 1970s did not benefit the public” Howard Schachman, “From ‘Publish or Perish’ to ‘Patent and Prosper’ ”, J. Biol. Chem. 281(11):6889-6903 (2006) Taxpayer $ NIH/NSF Publication
  14. 14. Shift in Focus of Research Efforts toward Commercialization l Howard Schachman, “From ‘Publish to Perish’ to ‘Patent and ‘Prosper’ ” JBC (2006)
  15. 15. Shift in Focus of Research Efforts toward Commercialization l Patent and Prosper – The incentive of companies to commercialize derives from the exclusive rights to manufacture that are afforded by the patent system Taxpayer $ NIH/NSF Publication Patent Technology Transfer Commercialization
  16. 16. US National Biotech Clusters
  17. 17. The revenue for worldwide publicly-traded biotechnology companies increased 12% to $89.7 billion in 2008.
  18. 18. Market Capitalization
  19. 19. Top 3 US Market Capitalization (10/07) l Exxon Mobil Corp., $511B l General Electric, $414B TOTAL BIOTECHNOLOGY WORLDWIDE $410B l Microsoft Corp., $328B
  20. 20. The Biotechnology Industry Operates at a Loss l In 2008, the global biotech industry lost $1.4 billion (down from 2007's loss of $3 billion) l The U.S. segment of the biotech industry made a profit in of $0.4 billion in 2008 Ernst & Young, “Beyond Borders: Global Biotechnology Report 2009”
  21. 21. The Major Players in Biotechnology Sources of Financing Sources of Technology and (Public (SBIR/STTR), Intellectual Property Private (Angels and VC), and (Universities and Non-profits) Big Pharma/Biotech) The Biotech Companies Incubators Law Firms (Service Providers)
  22. 22. Biotech Companies Require Cross-disciplinary Expertise Technology - Protein/Antibody - DNA/RNA - Small molecule - Diagnostics MBA/PhD JD/PhD Business - Deals • In/out licenses Law • Corporate Partners JD/MBA - Corporate • Mergers & Acquisitions • Licenses and other agreements - Venture Financing - Intellectual Property • Patents, copyrights, trademarks, and trade secrets
  23. 23. The PhD is Central to Many Science Career Paths Academic Science Industrial Science Science Policy/Think Tank Technology Transfer Regulatory BS MS PhD MD • Clinical Trials/FDA Approval Business Development MBA • Dealmaking Venture Financing/Investment Banking MBA • Due Diligence JD Law • Patent Prosecution (See, UCSF Office of Career and Professional Development) • Litigation • Licensing
  24. 24. A Few Thoughts on Strategy l Opportunity Cost of Education – For every additional step in your education, keep in mind the lost opportunity to earn – Education is expensive l Law of Diminishing Returns – It takes time to extract 100% value (learning/growth) out of every position/opportunity – Shoot for 80% value – Consider 3 year blocks – If not moving up, move on
  25. 25. Make Yourself Uniquely Qualified l Take a Cross-disciplinary Approach – Professionally l Work at the interface between professions – Science + Law – Science + Business – Technology l Contemplate the future of technology l Develop expertise in a number of technologies – Science + Engineering
  26. 26. Systems Biology Exemplifies the Interface between Technologies
  27. 27. Identify Thought Leaders l Founded in 2000 by Lee Hood, Alan Aderem, and Ruedi Aebersold l Mission of transforming biological and medical research by creating and using systems approaches to unravel the workings of complex biological systems l P4 Medicine – Personalized – Preventative – Predictive – Participatory
  28. 28. Networking l Networking is the on-going process of relationship building – Life-long, persistent, goal and result oriented – Based on the premise that l Careers don’t develop in isolation l No one person can know everything l People want to do business with people they like and trust
  29. 29. Networking l Starts at the university level – Attend seminars and networking events outside your department l Business l Law l Medicine l Technology – Other Cultures l India and China next dominant economic powers?
  30. 30. Networking l Continue throughout your career – Trade and professional meetings – Entrepreneur networks – Teaching and mentoring
  31. 31. Some Parting Words of Wisdom l When one door closes, another opens. But we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us. Helen Keller l If opportunity doesn’t knock, build a door. Milton Berle
  32. 32. Thank you! Gary M. Myles, J.D., Ph.D. Schwabe, Willamson & Wyatt gmyles@schwabe.com (206) 407-1513
  33. 33. A Brief History of Biotechnology
  34. 34. Early Developments Leading to the Biotech Industry 1953 l Double Helix Structure of DNA l Watson, Crick, Wilkins, (Franklin)
  35. 35. Early Developments Leading to the Biotech Industry 1956 l DNA Polymerase I (Pol I) l Arthur Kornberg
  36. 36. Early Developments Leading to the Biotech Industry 1967 l DNA Ligase l Martin Gellert
  37. 37. Early Developments Leading to the Biotech Industry 1970 l Restriction Endonucleases l Werner Arber, Hamilton Smith, and Daniel Nathans
  38. 38. Early Developments Leading to the Biotech Industry 1973 l Recombinant DNA l Cohen and Boyer
  39. 39. Early Developments Leading to the Biotech Industry 1975 l Monoclonal Antibodies l Kohler and Milstein
  40. 40. Early Efforts to Commercialize Biotechnology Products 1976 l Founding of Genentech (Genetic Engineering Technology, Inc.) l Robert Swanson and Herbert Boyer l Synthetic human insulin
  41. 41. Early Efforts to Commercialize Biotechnology Products 1978 l Biogen l Phil Sharp and Walter Gilbert l Interferon
  42. 42. Early Efforts to Commercialize Biotechnology Products 1980 l AMGen (Applied Molecular Genetics) l George Rathman, Franklin “Pitch” Johnson, Joseph Rubinfeld, Winston Salser, Lee Hood, and Bill Bowes
  43. 43. Modern Day Biotechnology
  44. 44. Worldwide Biotech Clusters
  45. 45. Biotech Drug Discovery Process Timeline l $1.2Billion: The average cost to commercialize one biotech product

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