How can you successfully work with biotechnology startups?

Innovation needs a culture of passion and dedication to grow. Whether you are an employee, prospective employee or consultant, sharing passion for developing the specific medical advancement is important to show you are part of the team. You can and will work hard toward the goal. At the same time, vision needs to be balanced with realistic strategy and operational goals and methods. One challenge is that biotech firms may be founded by a CEO with scientific vision who lacks operational experience or even corporate experience. This is where having an experienced consultant or COO can be essential. The vision is What and Why. The COO / consultant provides the How.

Guides decision-making: A well-defined vision and mission statement provides clarity on what the organization wants to achieve and how it plans to achieve it. This clarity guides decision-making and ensures that all actions are aligned with the company's overarching goals. Defines strategic objectives: A company's vision and mission statements provide the foundation for developing strategic objectives that support the overall mission. The strategy plan can be developed with a clear understanding of how the company's objectives support the mission.

It's important to understand that working with a biotechnology startup often involves aligning the harsh timing of the financial market with the biological timelines of processes. Working in biotechnology comes with this risk. A good example would be the work Moderna had been conducting for decades so that, at the right moment during the last pandemic, they had developed their product years in advance, ensuring it was ready to meet market demand.

To work with biotechnology startups requires a deep understanding of their science, their communication and marketing goals, and adapt to their fast paced, at times complex, working environment. Translating complex concepts into visually compelling narratives requires seeing yourself as part of the team, communicating transparently, understanding their strategic vision, and surely offer scalable solutions.

Biotech startups are born out of a passion to solve complex problems and push scientific boundaries. These startups need to work collaboratively and have a clear understanding of their vision and intended impact on society. For instance, Biogen Health Solutions is working towards revolutionizing cancer treatment by developing personalized therapies based on patient's genetic makeup. We must recognize the transformative potential of such startups on healthcare and patient outcomes.

Adaptation and flexibility- are two very important pieces of working at a startup. Unlike big pharma- resources/money are limited, which can trigger consistent change or roadblocks. With those roadblocks, you may need to wear multiple hats or complete tasks you didn't "sign up" for when you took the job- but that is part of the biotech world. Biotechs are not for everyone- for people who like fast-paced, wearing multiple hats, higher risk with substantially more reward, and creating your own map- a biotech is for you. For those who like to "stay in their lane" and to not move too fast- biotech is not for you.

Biotech startups operate in a constantly changing environment characterized by breakthroughs, regulatory challenges, and uncertainties. To work with them successfully, collaborators must be adaptable, flexible, and supportive. They should offer resources, expertise, or guidance, and be open to creative solutions. By aligning with the startup's goals, forging partnerships, and embracing their entrepreneurial spirit, established companies and investors can drive innovation and help shape the future of healthcare.

Successfully working with #BiotechStartups needs understanding and aligning with the company's vision. In my opinion, #Adaptability to the startup environment is crucial, as it often requires a nimble approach, quick decision-making, and flexibility in resource allocation. Building strong communication and collaborative relationships can enhance the synergy between established industry practices and the innovative spirit of a biotech startup. ??

I've been in #biotechnology for 3 decades and worked with Fortune 500 firms to biotechnology startups. The industry changes rapidly so you need to keep up in two ways. First, raise your hand and take on internal high profile projects. Share innovative ideas with your boss and in meetings. Second, lifelong learning is essential. Take #training classes at nonprofit associations. Get certificates at nonprofits like DIA. You can also take training offered by industry experts. Be sure to check their credentials. While university education is a good foundation, you need to include training from people with hands-on industry expertise. Being skilled at multiple functions helps in #startup biotechnology firms. Rotate through more than one role.

The key to working with biotechnology firms either as an employee or consultant is to look strategically as what needs to be done to get a new therapy from the lap bench to the patients as efficiently and quickly as possible, propose optimal approaches then get to work performing quickly & accurately. The therapy needs to go through clinical trials then commericial launch. Few people have full pipeline skills. Over my 30-year career in the biotechnology industry, I've rotated through R&D functions. This enabled me to optimize operations of a global R&D division for a pharmaceutical firm. Get training from valid sources then stretch your skills so you are always learning & improving.

Any biotechnology product needs to be produced according to the relevant quality/regulatory standards, such as IVD, MDR, ISO standards and so on. It pays off to understand the quality/regulatory demands early in the process to ensure that relevant steps are taken and data is gathered and documented properly. Building the quality/regulatory system in a scalable but pragmatic way will benefit in a later stage.

As rigorous as the process can be, when you've seen one start up you've seen one. Each biotech has their own character and process. The old analogy is true - when in start up mode, you're building the plane while flying it and often building the landing strip in your spare time. Working with startups means your job description can be fluid. If you have the skill and the willingness to contribute, you'll be asked to do a lot of new things. It requires passion, creativity and determination...and a good sense of balance!

Using a strong network is incredibly important given the limited resources at a biotech. A strong network can help with everything from recruitment to decision-making on commercializing the product, which, depending on the therapeutic area and other factors, can be incredibly complex. A few wrong decisions can have substantial financial impacts.

There are two main ways to build your biotechnology network. First, start at your own company. Join internal corporate groups such as volunteer groups, diversity groups or others. Reach out to a broad range of colleagues in your area or adjacent functions. Get to know at work and outside work for coffees. Second: Meet people outside your company by joining nonprofit industry associations. Attend association events and meet people. Plus volunteer with the nonprofit association. This is the best way to grow deeper, longer term connections. It's not enough just to introduce yourself and hand them a virtual business card. You need to find your people and get to know them and share with them through shared industry activities.

Establish solid relationships with key players in the startup, including founders, scientists, and business leaders. Collaboration and regular communication promote trust and a better comprehension of one another's objectives.

"Learn on the job" will be crucial to success. Typically the team is creative, full of disruptive ideas, but with only few members that worked in that market/industry (there are exceptions of course). So many time, we talk with costumers, suppliers, regulators and are made aware of "what's missing" or "what needs to be changed". In early days of a startup, there won’t be the pre-existing expertise to do everything needed, so YOU need to do it, YOU need to learn it and YOU need to make it happen. And that's what makes it so appealing... the thrill of learning, make things happen, have an impact - it's very addictive!

The three pronged approach works for me. 1) Get traditional degrees in medicine & biotechnology. For example, I have PhD from Boston University School of Medicine in neuroscience & human biology 2) Get a job in a biotechnology firm and learn on the job for hands-on training. I've worked in the industry for 30 years. At least 5 years experience is needed for a foundation. 3) Get advanced, hands-on training by taking non-profit industry association training classes or workshops. Take selected industry training from highly experienced instructors. All 3 types are needed. Life long learning is necessary in biotechnology given the constant change & innovation. Keeping up with reading industry journal articles & newsletters is also important.

A biotech startup is indeed a long journey that you will love or it will wear you down. In order to succeed, it's important to recognize that despite being a regulated industry, due to the complexities and constant learning, it requires frequent iterations of plans. Therefore, be flexible, patient, and adaptable. Three of the greatest lessons I have learned in my journey are: 1. Celebrate the wins, small and large. 2. Embrace your team; you cannot do it all. 3. Simplify, simplify, simplify. If this sounds exciting to you, then hop aboard. It's a wild, yet rewarding ride!

By working on development and launch of new therapies, I'm helping people live healthier lives. I love knowing I'm making a difference. At the same time, burnout is real in many firms given the intense pace. During the COVID pandemic, I worked 12 to 15 hour days. This pace is not uncommon in the industry. You need to take time for self-care. Schedule time on your calendar to meditate, go for a walk or do something to relax and re-charge. Schedule time for your friends and family. You will perform better when you can for yourself.

Attend workshops, updates, and meetings to actively engage in the development process. Remaining involved gives you the opportunity to make a significant contribution and gives you a clearer picture of the startup's development.

In many cases, "working with a startup" reflects a relationship with a larger, more established biotech company. Depending on your startup's position, the size of those companies could be critical. For many, there is an attraction to working with huge multinationals, as they can provide great validation of your new technology. The downside is that decision-making can be very slow, requiring you to be validated and placed into their ordering system. The speed of these companies might not match your startup's needs. If you are trying to work with very large companies, marketplace platforms (eg Science Exchange) can remove some of the friction.

One thing I've found useful is to put yourself in the shoes of startup founders. They often come from academia and have spent years developing their technology. Now they're facing the harsh realities of the business world, and it's not always an easy transition for people who would rather spend more time in the lab. So be understanding of this situation and try to position yourself as a facilitator for them, someone they can rely on for the skills they lack.

Make sure the startup conforms with legal laws and ethical standards. This is particularly critical in the biotechnology industry, where adherence to ethical norms and regulatory guidelines is crucial.

Successfully collaborating with biotechnology startups involves staying informed about the latest advancements, building strong relationships through networking, understanding the startup's technology, offering complementary expertise, adopting flexible collaboration models, implementing risk mitigation strategies, supporting innovation ecosystems, considering strategic investments, maintaining clear communication, assisting with regulatory challenges, and aligning with the long-term vision of the startup. It's about all these steps combined, not one over the other. By combining technical understanding, strategic collaboration, and a supportive ecosystem, you can contribute to the growth and success of biotechnology startups.