Entrepreneurship in Oncology: Q&A With City of Hope President, Michael Caligiuri, M.D.

From April 14 to 19, City of Hope thought leaders will deliver 50 abstract presentations showcasing some of the latest breakthroughs in cancer research at the AACR 2023 Annual Meeting. Additionally, City of Hope National Medical Center President and the Deana and Steve Campbell Physician-in-Chief Distinguished Chair Michael Caligiuri, M.D., will be guest moderating a new educational session, “Fostering Entrepreneurship I: Commercializing Innovative Ideas — Where to Start?” on Saturday, April 15 from 8 to 9:30 a.m. EDT in Room W315.??

This unique event will help you sharpen your business skills and learn how to commercialize innovative ideas to deliver the treatments of tomorrow to the patients who need them today.??

We sat down with Dr. Caligiuri to learn about entrepreneurship in oncology and what he’s most excited to discuss at #AACR23. Keep reading.?

This year you’re moderating AACR’s new educational session, “Fostering Entrepreneurship I: Commercializing Innovative Ideas — Where to Start?” What topics are you most excited to discuss???

Michael Caligiuri, M.D.: I am excited to be discussing all aspects of entrepreneurship. It’s important to have this skill in making ideas come to life. This session will be very important for those in academia who may consider commercializing their research ideas. Some of the topics that excite me are patent applications, engaging experts in the decision-making process, finance pathways and pitfalls, building a team, technology and tools, types of funding and understanding how to talk to the regulatory agencies inside the FDA and when.?

How do entrepreneurship and cancer research go hand-in-hand? ?

Caligiuri: Any cancer researcher who wants their drug to reach the masses (i.e., FDA approval and commercialization) must seek assistance outside of academia to achieve commercialization.??

How has your entrepreneurial background positively impacted your work at City of Hope, a premier cancer research center? ?

Caligiuri: City of Hope is a bedrock of entrepreneurship and has been very receptive to commercialization of research ideas. As one of the early leaders in the?biotechnology space, its approach to company formation and collaboration with industry is refreshing for an academic researcher with entrepreneurial aspirations.?

How do you find inspiration in cancer research? Do you often collaborate with other doctors on clinical trials or patient care? What does that collaboration look like? ?

Caligiuri: One of the advantages of being a physician-scientist is you can see, often very early on, where a laboratory discovery might go clinically. That moment is exhilarating. You also have a bridge to the clinic where your colleagues are always up for testing new hypotheses to treat and potentially cure cancer.?

As an entrepreneur in the oncology field: ?

1. How do you respect and prioritize patient confidentiality???

Caligiuri: It's no different when a patient is on a study or on standard treatment. Patient confidentiality must be adhered to at all times.?

2. How do you manage finances and timelines when coming up with new creative ideas? ?

Caligiuri: This is one of the biggest challenges for academic investigators looking to commercialize an idea. The people lending the money think differently than the scientist with the idea. The key is having good financial officers and/or good financial advisors on your board. Even then, financial failure is much more common than success. This critical need will be carefully covered in our sessions.??

3. What is the most difficult aspect of protecting the ownership of your ideas?

Caligiuri: Investing the time and money in good patent applications. This will be covered in detail in the sessions.?

4. Outside of the clinical field, what professionals have been key partners in your work? ??

Caligiuri: A great CEO, operating officer, regulatory people, investors and financial advisors are just a few of the key personnel involved in this work. There is a huge team that is required to bring something from the lab to the clinic, many who have nothing to do with “the clinical field.”

How can aspiring entrepreneurs engage with you at AACR???

Caligiuri: Join us at the AACR session, “Fostering Entrepreneurship I: Commercializing Innovative Ideas — Where to Start?” on Saturday, April 15, from 8 to 9:30 a.m. EDT in Room W315. We are eager to answer your questions. We'll also have an informal “meet and greet” — Networking Hubs — with entrepreneurs and leaders from pharmaceuticals on Sunday evening, April 16, 6:30 to 8 p.m. EDT in West Lobby B.?