Biotech Leader Spotlight Series

Welcome to Partnology ’s Biotech Leader Spotlight Series, where we highlight the remarkable accomplishments and visionary leadership of biotech industry pioneers. This series is about showcasing the groundbreaking strides made by exceptional leaders who have transformed scientific possibilities into tangible realities. Through insightful interviews, we invite you to join us in following the inspiring journeys of these executives who continue to shape the landscape of the biotech industry. This week we are recognizing:

Kevin Green, Chief Operating Officer

Kevin Green serves as Chief Operating Officer at Elsie Biotechnologies , previously acting as Chief Financial Officer and Chief Business Officer. Kevin is an experienced healthcare executive with a broad finance and operations background in life sciences, medical devices and biotechnology. He is an experienced fundraiser and strategic thinker, preparing companies for private financing and IPOs, and has extensive business development expertise with deep networks in pharma, biotech, and banking. Prior to Elsie, Kevin served as Chief Financial Officer & Senior Vice President, Corporate Development at Bioniz Therapeutics. He also served as Vice President, Business & Corporate Development at AIVITA Biomedical, Inc. after serving as Senior Director of Business Development at Allergan for 10 years. Kevin earned his MBA from University of California, Irvine.?

Walk me through your career; highlighting pivotal moments and what motivated you to pursue finance, operations, and business development in biotech:

I've always had an interest in both science and finance. My career began in operations finance in a managed care health plan and later at Disney on the entertainment side.? I joined Allergan in 2006, initially in finance, but soon moved over to the corporate development group, where I spent about nine years working across all stages of deals in therapeutics and devices. This experience gave me broad exposure to M&A, licensing, search and evaluation, diligence, and alliance management.

At Allergan, our business development team had a unique structure that covered every aspect of a deal, from search and evaluation to M&A and alliance management.? We were also responsible for leading diligence efforts which provided broad exposure to all functional areas in the organization. I gained foundational knowledge across CMC, regulatory, and other areas critical to biotech—a solid training ground for my future roles.

After the Allergan-Actavis merger, I began consulting with smaller biotech companies, helping shape their development strategies. This was my first exposure to the smaller, more agile companies at the forefront of innovation. Through my network, I began consulting globally, working with clients across Israel, Canada, and the U.S., gaining a wider range of experiences.

My first in-house biotech role came with Aivita Biomedical, where I managed business development, strategy, and investor relations. Aivita’s focus on oncology and stem cell therapies was an exciting shift, enabling me to apply my dermatology and aesthetics knowledge from Allergan, while also diving into oncology and cell therapy. I was responsible for investor relations and fundraising, pitching to VCs to secure funding.

This role paved the way for my next opportunity at Bioniz Therapeutics, where I expanded my scope further. I worked as the business partner to the scientific founder and CEO on the business side as CFO, developing robust finance and business development functions and preparing the company for a potential IPO. I worked on pre-IPO activities, including writing the S-1, engaging analysts, and trying to secure funding. Though market conditions ultimately delayed our IPO, we successfully completed an all-stock acquisition with Equillium Bio in San Diego.

Most recently, I joined Elsie Biotechnologies as Chief Business Officer and Chief Financial Officer. Here, I led efforts to secure Series A funding and oversaw the investor relations strategy. After pivoting from the Series A process, we pursued a licensing deal with GSK, after which I served as interim CEO to prepare the company for a potential acquisition. This involved working on proof-of-concept studies with GSK, streamlining operations, and strengthening company culture. In May, GSK acquired Elsie Bio, and I’ve since continued my role as Chief Operating Officer, focused on post-close integration and establishing Elsie Bio as an operating unit under GSK with a footprint in San Diego.

In your experience across various C-suite roles, what are some of the biggest challenges you’ve faced across finance, corporate/business development, and operations in the biotech sector?

The toughest challenge in biotech has always been raising capital. Reflecting on my experience, I realize just how much time and effort went into securing funding. At Aivita, we managed to secure some funding before the market slowed, but at Bioniz, we missed the IPO window by just a few months. We then faced challenges pitching to crossover investors, who at that time were increasingly focused on their own portfolios, making it much harder to secure interest. While there were additional factors that affected the IPO’s feasibility, the fundraising process itself was particularly difficult.

By the time I joined Elsie Bio, the investment landscape had further shifted. Early-stage platform deals, which had once been popular, became harder to fund as investors sought out less risky, more developed programs. This reality reinforced the importance of flexibility in strategy; as a leader, you have to be prepared to pivot and take alternate paths to reach a successful outcome.

Managing these companies involved balancing the inherent scientific risks while focusing on rapid de-risking strategies. Some technologies are more challenging to de-risk, but this approach has always been central to my leadership style. The ability to adapt, especially in a volatile market, is key to navigating the unique challenges of biotech.

In addition, one of the hardest things for biotech companies to grasp is that working with Big Pharma and closing a deal is not easy. I’ve spoken with numerous companies whose entire strategy is to take their product to phase two and then partner with a larger pharma company. While partnering can be a beneficial outcome, it shouldn’t be the core of your strategy because securing a deal with Big Pharma is no simple task.

There needs to be a shift in mindset, and perhaps it comes down to hiring the right business development people. Partnering can’t be your primary strategy. It’s not easy to get Big Pharma to engage, and the days of assuming that phase two data will automatically attract a partner are over. You really need to understand what Big Pharma wants and how to meet those needs. Unfortunately, their strategies tend to shift frequently, so you must remain flexible and strategic in your approach.

I’m a firm believer in starting conversations with Big Pharma early—knowing that a deal may not materialize right away—but building that relationship so you can check in periodically. This helps ensure you’re on the right path and allows you to anticipate shifts in their strategies. Ultimately, small companies must recognize that Big Pharma will need to acquire them to innovate, but it’s important to be prepared for the long haul. Getting a deal done with Big Pharma is challenging, and companies should keep that in mind throughout their strategy development.

Given your experience in preparing companies for private financing and IPOs, what advice would you give to emerging biotech companies seeking to attract investment in today’s climate?

The first thing I focus on is de-risking as much as possible. I really enjoy working with scientific founders and their teams, drawing on insights from my time at Allergan and seeing companies from the buy-side perspective. I’ve seen promising technologies, but also red flags in diligence—whether in team structure, regulatory approaches, or IP strategy. My goal has been to help smaller biotech companies make smarter decisions to avoid these pitfalls.

For any founder or CEO, it's critical to de-risk the asset early on. Risks can range from technical and regulatory to manufacturing, so it’s essential to identify and address the biggest issues first. As the asset becomes more de-risked, the story becomes more compelling for investors. While some investors may shy away from certain risks, others may be open to taking a chance if key risks are mitigated.

Taking risks off the table is my top piece of advice, especially given how the investment climate has shifted since the "frothy" markets of recent years. The environment has changed; venture groups that once made higher-risk investments may now prioritize companies that have tackled their main risks upfront.

How do you approach strategic planning in a rapidly evolving industry like biotech, and what factors do you consider most critical for long-term growth?

Strategic planning really depends on the specific asset, therapeutic area, and technology. My approach is to always begin by scanning the environment—examining the competitive landscape, identifying key players, and pinpointing what makes us unique. This early assessment is crucial; if you find yourself in a crowded space with little differentiation, it becomes challenging to tell a compelling story. Competitive analysis, for me, centers around understanding the competition and articulating our "secret sauce"—the unique aspects that set us apart. Once you can define this, it strengthens your narrative across investor pitches, hiring, and establishing strategic priorities within the organization.

As for critical factors in long-term growth, one I’ve come to appreciate more over time is the quality of the team. It’s not just about finding people with experience but those who understand their strengths and weaknesses and are proactive in addressing gaps. Regarding the science, early-stage research is inherently unpredictable, but having a unique and compelling scientific story is vital. Differentiation is key; I’ve seen how simply reformulating existing drugs, though sometimes viable, rarely brings the impact of truly novel science. Success hinges on having distinctive chemistry, biology, or AI approaches and communicating that effectively. Great technology and a strong team are essential, but without the ability to persuade others of the value, raising capital and achieving sustainable growth become much harder.

Looking ahead, what are your hopes for the future of Elise Biotechnologies and the biotech industry as a whole? What do you see as the next big breakthrough or area of focus?

For Elsie, now as part of GSK, I think it’s a fantastic step forward. Elsie was a unique, early-stage discovery platform that required substantial proof-of-concept work to get venture capital backing, which is challenging without the funding needed for that validation. We always knew that there were just a few strategic players—maybe two or three—that could truly leverage its potential, and GSK was probably the best fit to fully capitalize on the platform and drive its growth. Securing that deal was ideal for Elsie and its team, and it should provide a strong foundation for Elsie’s mission and significantly accelerate progress.

On the technology side, Elsie’s innovative chemistry platform offers the potential for new approaches to oligonucleotide development, a drug category with a longstanding history and evolving challenges. With the backing of GSK, Elsie can explore pathways to make these drugs safer and more effective, which, in turn, could transform patient outcomes.

Looking at the broader biotech space, I’ve spoken with venture professionals and industry leaders, and there’s a sense of optimism as IPO markets begin to revive. The field has shifted away from “me-too” approaches, demanding more groundbreaking science to secure funding and reimbursement. I’m particularly excited about emerging, high-potential technologies coming out of research institutions, as these will likely shape the future of biotech and solve significant healthcare challenges—from common cardiovascular conditions to rare diseases affecting only a few hundred people. The next few decades hold a lot of promise for innovation in biotech.