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Going Virtual

A Three-part Series to SPEED UP & DE-RISK Your Life Science Startup: April 4, April 18, May 2

Program

Meetings will be held virtually on April 4, April 18 and May 2.
Register for
all three sessions at once using this link.


Running a lean organization and keeping costs down is essential for start-up life science companies to hit milestones and attract additional capital before running out of funds. The challenging funding climate over the past few years further underscores the necessity of extending the cash runway as long as possible. The virtual biotech model is one option for start-up companies to quickly and cost-effectively de-risk assets. Virtual companies outsource most product development functions, thereby minimizing expensive corporate infrastructure while maximizing flexibility and expertise.

There are many examples over the past several years where companies developing products or treatments with just a handful of employees quickly reach inflection points for investment or exit, receiving financial windfalls from VCs and big pharma. Despite these success stories, the virtual model can also have the reverse effect. The cumbersome task of managing multiple suppliers and outsource partners can take leaders’ attention away from strategic decisions, particularly if multiple partners are involved in a project or there is a misalignment of capabilities. Additionally, outsourced processes often become duplicated in-house due to a lack of accountability, requiring additional headcount. This can quickly diminish funds and delay milestones.

To harness the potential of the virtual biotech model to accelerate timelines, de-risk assets and attract investors, it is imperative to utilize a strategic framework that goes beyond simply outsourcing. To successfully utilize a virtual model, organizations must carefully select vendors with broad capabilities and the depth of expertise needed to execute their vision and streamline processes through enhanced communication and accountability.

THE SERIES

In this three-part series, we will examine the key elements involved in creating a successful virtual company, provide insights on selecting outsource partners and managing those relationships and learn the investor perspective on how the virtual model can be an attractive option for funding.

 


April 4: Part 1

Doing More With Less: Creating the Hyper-Virtual Model

An essential ingredient in a successful virtual company is to find a few trusted partners with broad capabilities and deep expertise. Managing multiple supplier contracts, invoices and project meetings can bog down lean biotechs and distract senior leaders from focusing on more strategic decisions. Reducing these bottlenecks can accelerate timelines to make data driven decisions more quickly and efficiently.

In this session, we will cover:

  • Establishing the virtual business structure
  • Determining what suppliers you need for success
  • Streamlining decision making
  • Making strategic internal hires

 

SPEAKERS

  • Stephen M Perry, CEO, Kymanox (discussion leader)
  • Rick Bente, MBA, Co-Founder & CEO, Indomo
  • Marcelo Tellez Anderson, MBA, VP of Manufacturing, Technical Operations and CMCVice President of Manufacturing, Technical Operations and CMC, Veloxis Pharmaceuticals

 



April 18: Part 2

Trusted Partnerships: Developing Strong Communication and Accountability

The framework for a successful hyper-virtual company is a systematic approach to working with supplier partners and relying on their expertise to do the work. Establishing a trusting and cohesive working environment with effective communication between parties is a necessary part of the process. Ensuring the interconnectivity between groups will cut out unnecessary delays and save significant cost in misalignment of objectives and/or duplicated efforts.

In this session, we will cover:

  • Understanding and leveraging the capabilities of your suppliers
  • Creating accountability and transparency
  • Integrating systems and processes and managing supplier relationships
  • Developing effective communication and interconnectivity between groups

 

SPEAKERS

  • Stephen M Perry, CEO, Kymanox (discussion leader)
  • Burak Uçar, PhD, Sr. Director, Commercial Manufacturing & Technical Operations, Verona Pharma
  • Ron Casey, Vice President, Manufacturing & Supply Chain, Valinor Pharma
  • Dan Kagan, PhD, President and COO, Scientist.com

 


May 2: Part 3

Positioning for Success: Attracting Investors with the Virtual Model

De-risking your biotech venture is imperative in positioning yourself to attract venture capital investment, particularly in today’s challenging funding environment. Getting the right data to show proof of concept, however, is not always straightforward, and many companies often run out of funds before obtaining good data with repeated cycles and missteps. Establishing a collaborative relationship with a trusted partner who has extensive experience will not only help avoid these pitfalls but will also better position your venture to attract future investments.

In this session, we will cover:

  • A venture capitalist’s perspective on the virtual model
  • Creating a development plan with targeted milestones
  • Company valuation and developing a capital strategy

Speakers

  • Rick Bente

    Rick Bente, MBA, Co-Founder & CEO, Indomo

    Rick Bente is a visionary leader in the realm of healthcare innovation, known for his pioneering efforts in transforming the industry. With a steadfast commitment to building the future of healthcare, Rick currently serves as the CEO and Co-Founder of a stealth startup based in the Greater Boston area, a role he has held since December 2021. Prior to this, he played a pivotal role as President of Operations at YourBio Health Inc. (formerly Seventh Sense Biosystems), where he spearheaded strategic initiatives for over two years.

  • Marcelo Anderson

    Marcelo Tellez Anderson, MBA, VP of Manufacturing, Technical Operations and CMCVice President of Manufacturing, Technical Operations and CMC, Veloxis Pharmaceuticals

    Marcelo joined Veloxis in 2022, bringing more than 27 years of technical and leadership experience in the biopharmaceutical industry. With over 27 years in biopharmaceuticals, Marcelo is a seasoned executive with a track record of excellence in operations and leadership. At Veloxis Pharmaceuticals, he builds on a legacy that includes 12 transformative years at Biogen, where he last served as the Global Head of Strategic Partnerships, cultivating pivotal industry alliances.

  • Dan Kagan

    Dan Kagan, PhD, President & COO, Scientist.com

    As Scientist.com’s President and Chief Operating Officer (COO), Dan helped create an innovative business and legal framework that is now used by most of the world’s leading pharmaceutical companies and contract research organizations (CROs). Prior to Scientist.com, he advised startups at eBoost Consulting, started a company called ChemoTactics and was the CTO of the UC-San Diego 100K Entrepreneur Challenge. Dan received an M.S. and Ph.D in Bioengineering from Joseph Wang’s lab at UCSD, where he was a Gordon Scholar.

  • Ron Casey

    Ron Casey, Vice President, Manufacturing & Supply Chain, Valinor Pharma

    Ron Casey, is currently the Vice President of Manufacturing and Supply Chain at Valinor Pharma, bringing experience from previous roles at RedHill Biopharma Ltd., Kokoro Pharma Consulting, LLC and Braeburn. Ron is a leader in manufacturing operations and product development and has been successful at building manufacturing and operations infrastructure for growing organizations. His expertise is in commercial manufacturing, technology transfer, scale-up, validation, packaging and distribution of pharmaceutical drug and Combination Products.

  • Stephen Perry, Founder and CEO, Kymanox

    Stephen Perry, Founder and CEO, Kymanox

    Stephen M. Perry is the CEO and Founder of Kymanox—a diversified and global professional services company solely focused on the Pharmaceutical, Biotechnology, Medical Device, and Combination Product industries. He has extensive CGxP experience as a Process Engineer, Technical Project Manager, Quality Auditor, and Regulatory Strategist. As a business executive, Stephen has successfully attracted growth capital from WestView Capital Partners and has further grown the unique Kymanox platform with the acquisition of four different companies.

  • A Burak Uçar PhD

    A. Burak Uçar, PhD, Sr. Director, Commercial Manufacturing & Technical Operations, Verona Pharma

    Burak has led and managed projects in Manufacturing, Process Operations, Supply Chain, Engineering, Quality, and Regulatory Compliance roles for products in various presentations including medical devices, combination products, and solid oral dosage forms. Burak has doctoral experience in microfluidics, including fabrication of composite materials and devices.