.@daphnezohar notes that pharma heads of R&D are leaving after ~5 years with @jaybradner, @mmammen, John Reed, Hal Barron, Rupert Vessey being recent examples. Asks @andy_plump (8 yrs @TakedaPharma) what a minimum tenure is to make an impact #BiotechHangout
In response to @daphnezohar, @andy_plump notes “There’s no way to sustain the growth that shareholders will ever be satisfied with - we tend to see short sighted decision making which is likely why we see it reflected in the tenure of R&D execs.” #BiotechHangout
.@jaybradner says "R&D roles are a balance of stability and a strong foundation in a company. Changing R&D strategy every 2, 3, 4 or 5 years w/ a new leader would negatively impact productivity." #BiotechHangout
Everyone in the #lifescience industry is focused on the same thing - Innovation. @andy_plump emphasizes pharma’s reliance on #biotech for innovation, which sometimes makes it hard to follow through on sustained strategies. #BiotechHangout
.@LifeSciVC discusses the trend of recycling the same R&D leaders among companies. @jaybradner adds that he’s often concerned when he sees R&D leaders stay for only 2-3 years as opposed to the industry average of 5-7. #BiotechHangout
.@mpreminger asks the group how compelled they think new heads of R&D feel to revolutionize and re-streamline an organization? What is the timeframe in which they feel they need to accomplish it? #BiotechHangout
Responding, @jaybradner shares words of wisdom from his predecessor at Novartis which he believes to be incredibly true, “For things to remain as good as they are, they must change.” #BiotechHangout
.@andy_plump says that “By default, no matter how strong the org you're entering, you bring in somebody new from the outside, you're going to get change. This is why succession planning is so important to maintain the continuity of a pipeline.” #BiotechHangout
The transitional phases during these moves could potentially slow deal making & cause previous deals to get dropped when a new regime joins notes @daphnezohar #BiotechHangout
Answering @cngarabedian’s question on key success drivers @andy_plump says companies need championship & belief, objectivity in the org & to learn how to deal with failure. @jaybradner says companies need to ask tough questions and focus on truth-seeking mindsets #BiotechHangout
.@daphnezohar notes that this is a terrific mix of people to talk about new models for advancing medicine, as today's #BiotechHangout group represents the entire ecosystem & some of the leading efforts from academia to venture creation, to listed truffle hunters to pharma
“Let’s talk about why we need new models to advance/fund drug development & what are the strengths and challenges of each of these. I want us to be totally objective and err on the side of self-critical” says @daphnezohar #BiotechHangout
.@LifeSciVC discusses the importance of founders and shares some slogans - “Founder friendly,” “Founder led,” “Free the founders” - you can’t build biotechs without founders. @andy_plump chimes in with another, “Pay the Founders”. #BiotechHangout
.@cngarabedian applauds co-hosts @daphnezohar for her innovative model with @PureTechH & @LifeSciVC for his approach with @atlasventure, and @TimOpler summarizes saying "I think that there's room for diversity of approaches in the model." #BiotechHangout
.@jaybradner is in favor of a "capital efficient, project focused, collaboration with the founder model." #BiotechHangout
Discussing the hub and spoke model, @daphnezohar points out the benefits: "The management team is incentivized to advance the projects that are working and to kill projects that aren't working. That's harder to do if you're a company with one asset." #BiotechHangout
In closing, @jaybradner says “We work best when we work together.” He echoes @LifeSciVC's earlier comments saying "we need people on both sides of the divide to get best of each type of org & keep tech moving quickly, because we can do way better than we are." #BiotechHangout
.@andy_plump agrees w/ @jaybradner that this is a partnership. "There's a lot that happens in pharma that really does work quite well. I think we're also lucky, we have an opportunity to translate the science into something that's really meaningful for society." #BiotechHangout
Suggesting a continuation of the productivity discussion on a future #BiotechHangout, @mpreminger asks "Do we measure ourselves by financial ROI? By the number of new drugs? Or do we think about the magnitude of the patient populations that we reach?" #BiotechHangout
.@cngarabedian builds on @mpreminger's prompt by noting "the interest in these new models/strategies is to address the inefficiency of R&D. The failure rate is still 99%, and our broader industry needs to get better." #BiotechHangout
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