Transcript Biotechnology 2004

Proactive Strategies for Advancing Women in Science
ICI2004, Montreal, Canada
Biotechnology
Challenges and Opportunities
for Women
Carol Nacy
President, Sequella, Inc., Rockville, Maryland, USA
“Biotechnology” Today
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Biological products produced by recombinant DNA
techniques
Specialty drug discovery and development
Diagnostics
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Life sciences Instrumentation
Technology-based “platform” companies
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IVD
Molecular probes
“Theranostics”
Stem cell
Genomics
RNAi
Drug Delivery
Agribusiness
Nutraceuticals
Essentially anything fits the mold these days…
Biotechnology Industry Organization (BIO)
Facts:
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1466 biotechnology companies in USA, 318 publicly traded
Biotech industry employed 194,600 people
Market Cap (total value of publicly-traded USA biotech
companies) is $311 billion
Biotech revenues are now $29 billion
Biotech is one of the most research intensive industries in the
world:
 2002 R&D expenditures were $20.5 billion
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2002 R&D expenditures were $101,200/employee
Biotech Business Model
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Business model is totally upside-down
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Consume $50-100M before you break even
Necessitates constant search for $$$
Generally run by Scientist-Founder(s)
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May or may not have good business sense
Usually reach ‘Peter Principle’ within 3-5 years of company start
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Wedded to first concept of company (most change focus in 3 years)
IP generally comes from own lab (or own concept) and find it
difficult to accept product failure (learn to “kill” your children)
Difficult to get “management/business experience”
unless you convince VC funders of “worth”
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Many VC “bet on the jockey, not on the horse”
Biotechnology company positions
currently filled by women
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Executives (CEO, President, Business Development, CFO, R&D)
Technician, Scientists, and Science Managers (basic and applied
research)
Program Directors (Chemistry, Microbiology, Immunology)
Product Managers (vaccines, diagnostics, drugs, devices)
Manufacturing and Quality Control/Quality Assurance (product
manufacture and release)
Regulatory staff and managers (work with Product Managers and
FDA/USDA/CDC)
Clinical Development (clinical trial design, execution, monitoring)
Marketing (presentations, education, preparing sales materials,
scientific press, actual sales)
Postmarketing reporting (adverse events reporting, product support)
Biotechnology Company Women
CEOs/Presidents:
Genetic Engineering News, June 2004
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Name
Company
Sherri C. Oberg
Acusphere
Pamela Marrone, Ph.D.
AgraQuest
Ginger Graham
Amylin Pharmaceuticals
Una S. Ryan
Avant Immunotherapeutics
Laureen Higgens
BD Biosciences (SoAm)
Helen Cunniff
BD Biosciences (Asia)
Cynthia Fisher
BioMed 20/20 Technologies
Barbara Osband
Cambridge Biomedical Res
Elena Holden
Compucyte
Elizabeth Panke
Genetica
Ruth M. Shuman, Ph.D.
Gentra Systems
Mara Espinal
Genzyme/genetics
Judith Gwathmey VMD PhD. Gwathmey
Julia Greenstein, Ph.D.
Immerge Biotherapeutics
Mary Pat Moyer, Ph.D.
InCell
Janice Pero, Ph.D.
OmniGene Bioproducts
Alison Taunton Rigby
RiboNovix
Carol Nacy, Ph.D.
Sequella
H. Stewart Parker
Targeted Genetics
Website
www.acusphere.com
www.agraquest.com
www.amylin.com
www.avantimmune.com
www.bd.com
www.bd.com
www.biomed2020.com
www.cambridgebiomedical.com
www.compucyte.com
www.genetica.com
www.genetica.com
www.genzyme.com
www.gwathmey.com
www.immergebt.com
www.incell.com
www.omnigenebioproducts.com
www.ribonovix.com
www.sequella.com
www.targen.com
How Biotech Companies Survive
Business Model
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Smart companies use a variety of funding sources to
continue product development and company growth
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Founder and “friends and family” money
High net-worth Individuals/Angels
Small business grants (SBIR, STTR) and other gov’t grants (ATP, DARPA)
Grants from philanthropic organizations (patient associations, etc.)
Corporate Partnerships
Loans/payment of salaries/bills with equity
Venture financing
A significant source of money during tight financing times
is grants:
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One place where scientists have edge over business execs!
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Apply early and often: one (or more) grants each cycle
Enhance your funding probability by communication
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Skills of Importance to Biotech
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All classic scientific skills are important
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All business skills are useful
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Microbiology
Chemistry
Cell biology
Animal biology
Pharmacology
Creating a budget
Developing a timeline
Identifying milestones
Writing clearly
Cross-training (science and business) is very
valuable
Recognize the Currency of Your
Profession
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Degrees
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Knowledge increases with study: continue through lifetime
Know (and do) what you enjoy
 Don’t get Ph.D. unless you like to write!
 Consider alternative career degrees (MBA, MPH, Biotechnology)
Publications
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Increases personal credibility
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The more you write, the better you write
The more you publish, the more people want to collaborate with you
Increases company science credibility
Enhances options for grant support (grants reviewed by academics)
Validates science for VC investors/corporate partners
Organizations and Resources for
Biotech Women:
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Biotechnology Industry Organization (BIO) (www.bio.org)
committees
Women in Bio (www.womeninbio.org, headquarters in Washington
DC, expanding from east coast)
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Women in Biotechnology (www.womeninbiotechnology.com,
global, headquarters in Palo Alto, CA)
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Springboard (www.springboardenterprises.org, many
programs for entrepreneurs, national with headquarters in
Washington DC)
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Center for Women in Enterprise (www.cwe.org, Boston)