The FOBIP Alumni Network Executive Committee, New York State Center for Biotechnology, JPMorgan Chase & Co., and Connecticut Innovations Present:

Financing Biotech in 2021

Executive Summary

The goal of this event is to discuss some of the various sources of capital available to emerging pharma and biotech companies and the current trends affecting the market. We have established a panel of investors ranging from angels to investment bankers who will explain their role in financing companies in the healthcare sector. The panel discussion will touch on current technologies attracting investment, promising new sectors, selection mechanisms for targeting companies for investment, factors contributing to successful exits, and upcoming challenges facing the industry in the future. Click Here for Speaker’s Bios

Thank You to Our Sponsors and Supporters!

Introduction by Dee Dao, President of the FOBIP Alumni Network warming up the audience at Mt. Sinai School of Medicine

The event kicked off with an introduction by the moderator Sarah Webb, a journalist for the Webb of Science. She briefly touched on the issues of our new digital age, in which many people are communicating with each other in 140 characters, or less. She mentioned the issues such as freedom of speech and government regulation in the biotech/pharma industry, discussed the ways in which people interact with healthcare companies online, and gave examples of successful early adapters of online communications strategies in medicine. She asked what do customers want, as they get their information from the internet? Today 61% of people are getting their health information online, according to a Pew study. However, only 1/2 of those people are generating content i.e. posting to blogs, commenting in forums, or contributing to discussions in an online community.

This was followed by a fantastic presentation by Michelle Hoffmann, Senior Research Manager at Deloitte Research. There is alot of buzz around social networks, there was even a movie about it- it is on everyone’s agenda. Every kid is doing it, you probably do it yourself. But, is there value in it? It’s actually very hard to make money from social media. Clients asked Deloitte: If we use this, will we find value? Deloitte answered by doing research on social networks, which is actually different than social media. What should life science networks be thinking about? How can life science companies engage in this to find value? Michelle admitted that there is hype, and there is hope. Does anyone want to ‘friend’ a company? No. The system works on the premise of data collection and collaboration between administrators and users. Does social marketing improve brand? The jury is still out. She repeated the mantra “If you build it, they will not come”. Recommend that you don’t advertise- it often doesn’t work. There are many options: blogs, wiki’s, RapidFeed, i.e. microblog such as twitter. Focused communities are rising where people come together for a single interest or event. There are more people on Facebook than the entire United States. There is alot of hype. Why are Life Sciences clients interested in this? They are interested because patients are going online to find relevant information to achieve some sort of healthcare outcome, and these networks are consumer/patient driven. There are possibilities for physicians to come enter and interact, possibly for-profit operations. 60% of doctors are using social networking for professional purposes. Social networking is most commonly being used by patients and their families, especially those fighting cancer and childhood diseases. However, obesity treatment via weight loss has not seen any significant social network activity due to the “on again, off again” nature of the therapy.

There are many different methods for collecting information, so why choose social netoworks? Owning or running a social network can give the administrator a curated database of information unavailable to them from other sources or databases. Some of the strengths of using social networking include: Collect Information- Market research, competetive intelligence Communicate- Social networks rely on “pull in” information, opposed to the traditional communications strategy of “push out”

There are social networks where physicians can actually exchange information in an online community, such as Ozmosis which bills itself as “The Trusted Physician’s Network, where good doctors go to become great doctor”s). In Sermo, a “Forum to share latest medical insights for physicians”, physicians remain anonymous. 23% of physicians plan on using social networking in the next 12-18 mo. However, it does take alot of blood, sweat and tears and manpower to get a social network running and keeping it up to date. It is not like a static web page, which can just be set up and the owner walks away. Deloitte recommends to those life science companies interested in setting up social networks to hire a very experienced moderator. People use social networking for many reasons, i.e. recreational and transactional purposes. The transactional user will need a review for a product or advice in a scenario. For example, their baby has a fever, what do they do? This is where physicians and consumers can come in and interact. Deloitte has been showing their life science clients that there’s value in social networking. For example, SpineConnect allows “spine surgeons from around the world log-on to SpineConnect to share knowledge, develop novel approaches to treatment, address the top challenges in spine healthcare, and create technological solutions that address voids in the current marketplace with the underlying goal of improving patient outcomes”. Finally, Michelle stated that she felt social network’s strength was in up-to-date information on topics that are filled with uncertainty.

Thank you to our attentive and diverse audience!

Louise Clemens, a digital strategy consultant explained that pharma wants to use social networking, but are very afraid to. She focused on what is working now. Elsevier Publishing is currently using this platform to allow editors to engage in conversation, and interact directly with their advisory board. The American College for Gastroenterology, via their ACG GI Circle has set up a system where members can participate in the conversation by commenting on abstracts and following authors- a great way to cultivate information and keep the scientific discussion going past an initial meeting at a conference.

There were some very interesting topics brought up during the final discussion. It was noted that the Mayo Clinic has over 300 videos up on YouTube. The FDA represents the large unknown in this sector. While they have no official social networking guidelines in place yet for the industry, the FDA themselves is publishing alot of content online via social networks. In 2010 the FDA issued 52 warning letters to the pharmaceutical industry, but only one involved social media. That was a Google Ad for a drug, which was faulted for not providing the proper warnings and side effects for the product with its advertisement. Johnson & Johnson has been very successful in opening up dialogue with patients and customers via their social media team, which responds to the individual questions submitted via their social network online (See J&J Diabetes Institute Online Community). Remember to never launch on a Friday. And finally, the future of this field will probably lie in location based sites such as Groupon, Foursquare and MyCityWay.

The evening ended with a fun and lively networking session which had food and drinks provided by the FOBIP.

Social Media in Healthcare

Date: Monday, January 31st, 2011 at 6:30PM
Location: Mount Sinai School of Medicine, Icahn Medical Institute – 1425 Madison Avenue (@ 98th St.), 1st Floor Seminar room
Agenda: 6:30 pm – 8:00 pm Panel Discussion (networking reception to follow)

($10 suggested donation)

Abstract

Social media is emerging as an effective tool for attracting business opportunities. Healthcare providers and patients are building online communities to help manage disease and sort through medical information. In the quest to improve outcomes, hospitals and clinics are using online social networks to discuss their medical practices and for patient outreach. The FDA is considering guidelines for the drug industry’s use of social media for drug marketing.

Dr. Michelle Hoffmann, of Deloitte Research, will be presenting a summary of a recent industry study she co-authored on the practical applications of social networks in the Life Sciences industry. Results from the study are based on interviews with executives in pharmaceutical and biotechnology companies as well as experts in the social media community. Her presentation will be followed by a panel discussion. The panel, composed of individuals experienced in the use of social media and communications, will share their thoughts on the opportunities, challenges, best practices, and value of social media for healthcare.

• Presentation 

  “To friend or not? New insights about social networks in the life sciences industry”

  • Michelle Hoffmann, PhD, Senior Research Manager, Deloitte Research.
• Panelists 
  • Bradley Jobling, MBA, Social Media Consultant, Dept. of Surgery, Columbia University Medical Center.
  • Louise Clemens, JD, Consultant on Digital Strategy for the Healthcare Industry.
  • Sandra Holtzman, President and Founder, Holtzman Communications.
  • Diane Zuckerman, RPh, CEO, Evidence-Based Solutions.
• Moderator 
  • Sarah Webb, PhD, Journalist, Science Writer and Editor, Webb of Science.

Speaker’s Bios

Moderator

Sarah Webb, PhD, is a science writer and editor based in Brooklyn. Her work has appeared in Discover, Science News, ScientificAmerican.com, Science Careers, Nature Biotechnology, The Scientist, Weekly Reader’s Current Health titles, and many other publications. She has a B.S. in chemistry and a B.A. in German from Furman University (Greenville, SC). After a Fulbright fellowship studying organic chemistry in Gieβen, Germany, she completed a Ph.D. in bioorganic chemistry at Indiana University in Bloomington. Committed to communicating science to the public, she shifted her focus from laboratory research to writing, editing, and informal science education. In 2004, she launched her writing career in New York City with internships at Discover magazine and as an AAAS Mass Media Fellow at WNBC-TV. Learn more at webbofscience.com.

Guest Speakers

Michelle Hoffmann, PhD, is a Senior Research Manager in Deloitte Research specializing in the life sciences sector. As part of Deloitte Research, Michelle keeps abreast of emerging trends and drivers that impact the rapidly changing drug and device industry. Michelle recently co-authored an industry study on the practical applications of social networks in the Life Sciences industry. Results from the study are based on interviews with executives in pharmaceutical and biotechnology companies as well as experts in Health 2.0. Prior to joining Deloitte Research, Michelle was a consultant in the Strategic Advisory group at Leerink Swann, a boutique health care investment bank where she helped clients understand how to value and leverage new therapies and technologies. She led projects on a diverse range of topics that include cell therapy opportunities, the diagnostics landscape, oncology clinical strategies, next generation sequencing, as well as numerous opportunity assessments. Her clients included start ups as well as top 5 biopharma companies. Michelle holds a Ph.D. in molecular and cell biology from the University of California at Berkeley and a B.S. in biology from Cornell.

Bradley Jobling, MBA, created the social media program for the Columbia University Medical Center Department of Surgery. He has 15 years of experience on Internet strategy and online marketing projects. His work has involved the advertising, media and health care industries. Bradley’s additional interests include online video and entrepreneurial businesses.

Sandra Holtzman, President and Founder of Holtzman Communications, is an award-winning creative director and marketing strategist. She has over 20 years of expertise in all areas of pharmaceutical advertising (ethical, OTC, DTC), nanotech, biotech, and chemical as well as emerging and converging technologies. Her experience includes business-to-business, medical communications, and international marketing, as well as consumer marketing.

Diane Zuckerman, RPh, is the CEO of Evidence-Based Solutions, a company focused on making medical data actionable, by collecting, organizing, and turning medical information into useful solutions for healthcare providers, patients, systems and payers. Diane is an entrepreneur with 20+ years of experience building successful medical education and technology-driven companies, including PROmedica Communications and the Foundation for Better Healthcare.

Louise Clemens, JD, is currently working as a consultant on digital strategy for healthcare agencies, hospitals, non-profits, to create online community for healthcare constituents using social media platforms that provide metrics and ROI. With more than 20 years of experience in solution selling, Louise’s most recent experience was VP of Business Development for Within3, a company that builds and sustains secure online communities for formal and informal networks of healthcare professionals. Prior to joining Within3, Louise was with a medical publishing company, where she headed a multi-million dollar biomedical device magazine and quadrupled its revenue within a two-year span. In addition, to her extensive sales background, Louise has her JD from Cleveland-Marshall School of Law at Cleveland State University ensuring that the custom community solutions she develops with each customer meet the stringent regulatory and legal requirements necessary to be successful.

  ]]> http://fobip.org/alumni/social-media-healthcare-fobip-seminar/feed 1 http://fobip.org/alumni/2010-holiday-party-pegu-club http://fobip.org/alumni/2010-holiday-party-pegu-club#comments Wed, 08 Dec 2010 15:55:10 +0000 Matt http://fobip.org/alumni/?p=1336 Date: Thursday, December 16nd, 2010 at 6:30pm Location: The Pegu Club, 77 West Houston St. Accessible by subway from Penn Station (C and E trains).

Click Here to RSVP

]]> You are cordially invited to the annual Fundamentals of the Bioscience Industry alumni holiday party at the exclusive Pegu Club. The event will begin at 6:30PM on Thursday, December 16, 2010. Light food will be served. Pegu Club is located at 77 West Houston St. and is accessible by subway from Penn Station (C and E trains). Please RSVP using this link by Tuesday, Dec. 14. If you have an questions, please contact Mr. Matthew Engel, VP of Alumni Affairs at alumni@fobip.org.

RSVP HERE

We hope to see you all there!

2010 Alumni Network Executive Committee

Integrating personalized health care into clinical practice

Organized by:
Fundamentals of the Bioscience Industry Program: Alumni Network Executive Committee
NY State Center for Biotechnology
Mount Sinai School of Medicine

Date: Thursday, December 2nd, 2010 at 6:30pm

Location: Mount Sinai School of Medicine, Icahn Medical Institute
1425 Madison Avenue (@ 98th St.), 1st Floor Seminar room

Abstract

The pursuit of personalized medicine continues to transform biomedical research and innovation from the bench to the bedside. Fundamentals of the Bioscience Industry Program (FOBIP) Alumni Network Executive Committee‘s Personalized Medicine Seminar brings together a clinical scientist and two healthcare experts to discuss, debate and identify the current challenges and opportunities for the development of a personalized approach to medicine and healthcare. They will provide perspective from the different participants of the healthcare industry and offer insights into this promising area of medical research.

Panelists

Paul Chapman, MD, Professor of Medicine of Weill Medical College and Graduate School of Medical Sciences, and Attending Physician of Memorial Sloan-Kettering Cancer Center, and Memorial Hospital for Cancer and Allied Diseases. His research interests include the evaluation of drugs that target the genetic mutations in melanoma cells.

Mark Horn, MD, MPH, Chief Medical Officer of Target Health, Inc., and Senior Advisor to Avalere Health. Prior to joining Target Health, Dr. Horn spent 25 years at Pfizer Inc., leading teams in Licensing & Development, Medical Marketing in multiple therapeutic areas, and Worldwide Public Affairs and Policy.

Glen Park, PharmD, Senior Director Clinical and Regulatory Affairs of Target Health, Inc. Dr. Park has over 20 years of extensive regulatory affairs and clinical development experience acquired in industry – Aventis Pharma, Ingenix Pharmaceuticals, and Sankyo Pharma, and academic settings – University of Iowa and University of Toledo.

Moderator

Eric Vieira, PhD, Assistant Director of the Office of Technology & Business Development of the Mount Sinai Medical Center, and Course Director of the Fundamentals of the Bioscience Industry Program.

Agenda: 6:30 pm − 8:00 pm Panel Discussion (networking reception to follow)

If you are interested in attending the Summit at no cost by volunteering, please email kposnanski@notes.cc.sunysb.edu no later than Friday, August 27. On the email, please include your name, affiliation, email address, mailing address, phone number, as well as the days and times you are available on Sept 22-23. There are a limited number of volunteer spots so register early!

As a volunteer, you will need to arrange for your own transportation to and from the event venue. Although we will work to have you experience as much of the summit as possible, you will have responsibilities throughout the event that may include but are not limited to: checking in summit attendees and speakers at the registrations desk, working the speaker preparation room, assisting in the partnering forum, staffing the panel rooms to ensure the session runs smoothly from a/v equipment to time management, serving as an information ambassador, and more.

This is a tremendous opportunity to attend a professional conference and network with industry executives, academic innovators, biotech investors and professional advisors. If you have any questions, please feel free to contact me with any questions.

Learn more about the Life Sciences Summit 2010 at www.lifesciencessummit.org ]]> http://fobip.org/alumni/volunteer-lifesciences-summit-2010/feed 0 http://fobip.org/alumni/alumni-bbq-august-2010 http://fobip.org/alumni/alumni-bbq-august-2010#comments Wed, 11 Aug 2010 16:40:17 +0000 Matt http://fobip.org/alumni/?p=1156 Register Here ]]> Annual Summer BBQ!

Hosted by the Fundamentals Alumni Network Executive Committee

Sunday August 22, 2010
Fun starts at 3:00 pm

Course Director Tom Ippolito’s House
Holtsville, NY

Be sure to bring your summer spirit and swim suit! Food and Drinks will be served. Suggested donation of $10 at the door.

RSVP By 8/19
http://www.acteva.com/booking.cfm?bevaid=207506

Join Naturejobs at The Nature Network New York Pub Night
Explore local educational and career opportunities in style!

Location: Klimat Bar and Restaurant
77 E 7th St (Between 2nd & 1st Ave.)
New York, NY 10003
Date: Wednesday July 28th, 2010

Time: 7:00pm – 9:30pm

Explore local education and career opportunities at the Nature Network New York Pub Night – Co-sponsored by Regeneron Pharmaceuticals and the Center for Biotechnology’s Fundamentals of the Bioscience Industry Program. Hear from working scientists, hiring managers and other professionals on taking those critical next steps in your life sciences careers. Expect an informative evening where undergraduates, graduates, postdocs and science professionals can ask questions and get first-hand accounts of how to advance their careers. Experts will be on hand to answer questions and give advice on taking those next crucial steps.

Space is limited so don’t miss out – RSVP for Nature Network New York Pub Night today! We’ll see you there!

Register Here: http://www.acteva.com/booking.cfm?bevaid=205915