Biotechnology

1. Proactive Strategies for Advancing Women in Science ICI2004, Montreal, Canada Biotechnology Challenges and Opportunities for Women Carol Nacy President, Sequella, Inc., Rockville, Maryland, USA

2. “Biotechnology” Today • Biological products produced by recombinant DNA techniques • Specialty drug discovery and development • Diagnostics • IVD • Molecular probes • “Theranostics” • Life sciences Instrumentation • Technology-based “platform” companies • Stem cell • Genomics • RNAi • Drug Delivery • Agribusiness • Nutraceuticals Essentially anything fits the mold these days…

3. Biotechnology Industry Organization (BIO) Facts: • 1466 biotechnology companies in USA, 318 publicly traded • Biotech industry employed 194,600 people • Market Cap (total value of publicly-traded USA biotech companies) is $311 billion • Biotech revenues are now $29 billion • Biotech is one of the most research intensive industries in the world: • 2002 R&D expenditures were $20.5 billion • 2002 R&D expenditures were $101,200/employee

4. Biotech Business Model • Business model is totally upside-down • Consume $50-100M before you break even • Necessitates constant search for $$$ • Generally run by Scientist-Founder(s) • May or may not have good business sense • Usually reach ‘Peter Principle’ within 3-5 years of company start • Wedded to first concept of company (most change focus in 3 years) • IP generally comes from own lab (or own concept) and find it difficult to accept product failure (learn to “kill” your children) • Difficult to get “management/business experience” unless you convince VC funders of “worth” • Many VC “bet on the jockey, not on the horse”

5. Biotechnology company positions currently filled by women • Executives (CEO, President, Business Development, CFO, R&D) • Technician, Scientists, and Science Managers (basic and applied research) • Program Directors (Chemistry, Microbiology, Immunology) • Product Managers (vaccines, diagnostics, drugs, devices) • Manufacturing and Quality Control/Quality Assurance (product manufacture and release) • Regulatory staff and managers (work with Product Managers and FDA/USDA/CDC) • Clinical Development (clinical trial design, execution, monitoring) • Marketing (presentations, education, preparing sales materials, scientific press, actual sales) • Postmarketing reporting (adverse events reporting, product support)

6. Biotechnology Company Women CEOs/Presidents:Genetic Engineering News, June 2004 Name Company Website • Sherri C. Oberg Acusphere www.acusphere.com • Pamela Marrone, Ph.D. AgraQuest www.agraquest.com • Ginger Graham Amylin Pharmaceuticals www.amylin.com • Una S. Ryan Avant Immunotherapeutics www.avantimmune.com • Laureen Higgens BD Biosciences (SoAm) www.bd.com • Helen Cunniff BD Biosciences (Asia) www.bd.com • Cynthia Fisher BioMed 20/20 Technologies www.biomed2020.com • Barbara Osband Cambridge Biomedical Res www.cambridgebiomedical.com • Elena Holden Compucyte www.compucyte.com • Elizabeth Panke Genetica www.genetica.com • Ruth M. Shuman, Ph.D. Gentra Systems www.genetica.com • Mara Espinal Genzyme/genetics www.genzyme.com • Judith Gwathmey VMD PhD. Gwathmey www.gwathmey.com • Julia Greenstein, Ph.D. Immerge Biotherapeutics www.immergebt.com • Mary Pat Moyer, Ph.D. InCell www.incell.com • Janice Pero, Ph.D. OmniGene Bioproducts www.omnigenebioproducts.com • Alison Taunton Rigby RiboNovix www.ribonovix.com • Carol Nacy, Ph.D. Sequella www.sequella.com • H. Stewart Parker Targeted Genetics www.targen.com

7. How Biotech Companies SurviveBusiness Model • Smart companies use a variety of funding sources to continue product development and company growth • Founder and “friends and family” money • High net-worth Individuals/Angels • Small business grants (SBIR, STTR) and other gov’t grants (ATP, DARPA) • Grants from philanthropic organizations (patient associations, etc.) • Corporate Partnerships • Loans/payment of salaries/bills with equity • Venture financing • A significant source of money during tight financing times is grants: • One place where scientists have edge over business execs! • Apply early and often: one (or more) grants each cycle • Enhance your funding probability by communication

8. Skills of Importance to Biotech • All classic scientific skills are important • Microbiology • Chemistry • Cell biology • Animal biology • Pharmacology • All business skills are useful • Creating a budget • Developing a timeline • Identifying milestones • Writing clearly • Cross-training (science and business) is very valuable

9. Recognize the Currency of Your Profession • Degrees • Knowledge increases with study: continue through lifetime • Know (and do) what you enjoy • Don’t get Ph.D. unless you like to write! • Consider alternative career degrees (MBA, MPH, Biotechnology) • Publications • Increases personal credibility • The more you write, the better you write • The more you publish, the more people want to collaborate with you • Increases company science credibility • Enhances options for grant support (grants reviewed by academics) • Validates science for VC investors/corporate partners

10. Organizations and Resources for Biotech Women: • Biotechnology Industry Organization (BIO) (www.bio.org) committees • Women in Bio (www.womeninbio.org, headquarters in Washington DC, expanding from east coast) • Women in Biotechnology (www.womeninbiotechnology.com, global, headquarters in Palo Alto, CA) • Springboard (www.springboardenterprises.org,many programs for entrepreneurs, national with headquarters in Washington DC) • Center for Women in Enterprise (www.cwe.org, Boston)