Life Science Leader Magazine Supplements

CMO 2015

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Page 19 of 83

LIFESCIENCELEADER.COM THE CMO LEADERSHIP AWARDS 2015 20 ROUNDTABLE leaders How should representatives go about selling their company? ACHAR: Keep in mind that you are not just selling a company. You are selling a new medical approach, a new way of doing business, or quite possibly a whole new treatment space. So you have that burden as well. This actually goes back to some of the earlier comments about having a solid business model and the right key opinion leaders on board. Make the case that you are promoting a viable product, that you have a plan to make it happen, and that you have a portfolio team that believes in the product. Vetting each one of those steps in your pitch is crucial. Be consis- tent and thorough throughout the entire process. AYNECHI: I think the sales approach varies based on the stage of investment. If you are looking at a preclinical com- pany, you are very much focused on the fundamentals of the science. The data aspect has to be good, and the manage- ment team is also key. We have invested in companies that were literally ideas, but they were brought to us by people who were successful and had a track record in this space. We knew they could actually execute on the idea. If we are looking at a later stage product that is in the commercial stage, we often will look to have a CEO with significant commercial experience who can handle the launch of the product. We have seen investment opportunities where we liked the science but did not feel confident with the management team. We would not be averse to going back to them and recom- mending that they enhance the manage- ment team. At the very least, we would want them to be open to adding a new executive, a CMO, or someone to fill any gaps we see in the team. We also like to avoid potential issues before they arise. This is a small commu- nity, and reputation does matter. What are your thoughts on crowd funding from the patient population? M. SHAH: I just saw a business plan where people from the IT area were set- ting up a platform on which they could ask the patients to contribute ideas about what they would like to see. The plan called for raising money from patients and their family members to fund the ideas. I think this is a model that will work but not for new drugs. I think old drugs could be repurposed using that kind of a funding model. I think patients will respond to safer and more efficacious versions of drugs they've been struggling with, perhaps for chronic conditions, by repurposing or reformulating drugs. FINDING INVESTORS AND CAPITAL TO MATCH YOUR GOALS By E. Miseta 9 Opportunity Way | Newburyport, MA 01950 | Tel: (978) 462-5555 88 Jackson Road | Devens, MA 01434 | Tel. (978) 772-2111 Our clinical drug substance development and manufacturing team of more than 100 professionals at two Massachusetts based locations are ready to execute on your most challenging project. Whether your compound is a pre-clinical candidate or you need a partner for full scale commercial launch, PCI's unique mix of scale and capabilities are unmatched in the industry. Come see where problems get solved! VISIT PCISYNTHESIS.COM TO LEARN MORE ABOUT HOW WE CAN HELP YOU. MIDSIZED PHARMA BIOTECH Together. Moving Ideas Forward.

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