*A chemist is preferred.

If you are interested in applying for this position, please email your resumé to Jennifer Fehrman at Jennifer.Fehrman@frx.com.

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.

Submitted by Xiao (Michelle) Meng, Class of 2009 – Alumni should feel free to contact her at  michelle.meng@bayer.com.

Applicants are requested to submit a CV and cover letter (cover letter should specify the departments of interest with justification) to Dr. Pooja Merchant at pooja.merchant@bayer.com by March 17th, 2011.

Bayer HealthCare’s Global Regulatory Affairs, Epidemiology and Health Economics & Outcomes Research organizations are sponsoring summer internship assignments for graduate students interested in a career in the global healthcare field. In this internship, students will gain valuable experience working with health authorities around the world.

Summer Internship: We are looking for dynamic individuals to join the Bayer team and will work with you to find a perfect fit for your summer internship. Recent graduates are welcome to apply. Candidates must be available for a 3-month assignment in NJ, with possible travel to Berlin and other Bayer locations. Along with hands-on training, candidates will be assigned a mentor and be expected to deliver a project at the end of the summer.

Internships are available in the following departments:

• Global Regulatory Affairs
  Global Regulatory Affairs works with Health Authorities in over 100 countries, giving you the opportunity to work in a truly global workplace. The current regulatory environment is changing rapidly and we are looking for future leaders who are interested in working with the Health Authorities such as the Food and Drug Administration (FDA) in the US, the State Food and Drug Administration (SFDA) in China, or the European Medicines Agency (EMEA) in the EU.
• Global Medical Affairs, Epidemiology
  Work with senior Global Epidemiologists who are involved in evaluating disease and disease treatment in a population, supporting decision-making at each stage of drug discovery, development and life cycle management so that patients, providers and policy makers have the best possible information on drugs.
• Global Health Economics & Outcomes Research
  Assist with specific health outcome studies. Become fully versed in the therapeutic area, up-to-date on all major studies, both ongoing and completed, competitive product information, clinical and health outcome data. Exchange peer to peer scientific and health outcomes information with other GHEOR colleagues through presentation of health outcome study methods and results.

Internship Candidates: High performer with a global perspective, interested in the interactions between science and policy, wants to work with dynamic people and contribute to a changing environment. Training in an advanced degree (Masters/PhD) in policy/administration, epidemiology, biostatistics, public health, pharmacy, medicine, or related field. Good oral and written communication skills. Ability to display poise and confidence and to project professionalism in interacting with internal and external stakeholders.

May international students apply?

International students are eligible to apply if they meet the criteria required of all interns including being legally entitled to work and earn money in the United States. It is the student’s responsibility to obtain the appropriate visa, if applicable. As required by current immigration law, an offer of employment is contingent upon the student’s ability to provide the appropriate documentation showing proof of eligibility to work in the United States.

MIT Enterprise Forum of NYC Presents: The Changing Landscape of the Biotech Pharma Deal

REGISTER HERE

Join Biotech and Pharma industry experts as they converse on deal making trends. Learn how you can position your technology and/or company for success in the current environment.

Our seasoned panel will discuss the evolution of deal models in the life science industry from the 1980s to present day. Our panelist will touch upon issues relating to the size of the deals, valuations, early stage /late stage deals, and recent acquisition activity (Takeda/Millennium;AstraZeneca/MedImmune; Imclone/Lilly). A must attend for anyone interested in Biotech Pharma deal making.

Confirmed Moderator:
- Dr. Mark DeWyngaert – MD Huron Consulting Group

Confirmed Panelists:
- Ed Saltzman, President, DefinedHealth
- Tamar D. Howson, MS, MBA, JSB Partners
- Dr. Christine T. Fischette, President, Enzo Therapeutics, Inc.
- Mark J. Simon, President, Williver Group

Thanks to Kenyon & Kenyon LLP for hosting and sponsoring this event!

DATE: Thursday, January 28, 2010

TIME: 5:30pm – 6:00pm: Reception
6:00pm – 7:30pm: Panel Discussion
7:30pm – 8:30pm: Networking

PLACE: Kenyon & Kenyon LLP – MAP
One Broadway
New York, NY 10004

REGISTRATION:
Register here. Free to members of MIT Enterprise Forum, $50 non-members, $10 extra at door. All members and guests are welcome. If you can no longer attend this event, please open the event announcement from our Event List, click on the event registration link, select the Cancel registration for this event button and then hit Submit.

CLICK HERE FOR MORE INFORMATION AND SPEAKER’s BIOGRAPHIES

The last week of October I traveled to Cambridge, MA for Novartis International BioCamp. Novartis brought together 60 post-bachelor students from 26 countries to gain insight into biotech and pharmaceutical company’s operations. Each day there were lectures and panel discussion on different aspects of biotech, including venture capital, regulatory affairs, business development and strategic alliances. As a participant, I was matched into a group of 5 students and we were responsible for inventing a technology and preparing a business plan for our company based around our new technology (similar to the Fundamentals of the Biotechnology program, except we only had four days).

When I started graduate school I loved science and thought I wanted to go on to become a PI. However, after my second year I thought I might want to get away from the bench, so I started to explore (what have been called) ‘alternative’ careers. Part of my exploration was through the Fundamentals course where I expected to learn more about the business side of biotech, which I did. After completing the course I thought a job in business or product development would be a good place to start my career. At Novartis BioCamp, I expected to hear more about these things and, most importantly, how to pursue such a career at a company like Novartis. While I did gain insight into business career paths, the information I learned about how scientific research is done at Novartis was much more inspiring.

The branch of Novartis located in Cambridge is named Novartis Institutes for Biomedical Research (NIBR), it is their global pharmaceutical research center. During a two-part lecture, Dr. Carol Manahan, Associate Director in the Education Office at NIBR explained to us about the specific approach NIBR takes toward innovation. Their research operates around two main objectives: bring medicine to the clinic rapidly and establish a new grammar for drug discovery. NIBR operates separately from all marketing groups so that they can focus on innovation. The thinking is to “be innovative and the money will follow”.

To fulfill these objectives when selecting programs to peruse, NIBR’s business model strictly focuses on those that fill an unmet medical need and those that there is clear understanding of the mechanism of disease. This is interesting if you think about the criteria as two continuums. Disease such as hypertension would be less interesting due to the wide availability of effective medication, while Alzheimer’s disease programs would be within their business model. Also, NIBR conducts research to better understand the mechanism of disease to further drug discovery in these areas with groups that specifically focus on a signaling pathway that is involved in many disease mechanisms.

Over and over we were told that the driving force in their company is innovation. As the week went on I found myself drawn into the science and the realization of producing medicines that cure diseases, instead of the business aspects that make this possible. Perhaps it is not bench science that I want to move away from, but translational research that I want to move toward. I went to BioCamp thinking I would find an avenue into the business of biotech and I came out with a renewed love for science.

Novartis BioCamp 2009 Lunch and Networking