[Inventory] How do these biomedical technology big coffees occupy half of the industry?

Failed entrepreneurs are similar, but successful entrepreneurs have their own unique ways of success. Among them are academic entrepreneurs like Bob Langer, Lee Hood, and Tim Springer. They are the "catalysts" on this entrepreneurial road, but they will not quit their jobs and will not completely follow their careers with small companies. Connected.

But there are also other entrepreneurs who “play with you”, who have entrepreneurial dreams and, through early entrepreneurial experience, have grown into the corporate leaders of the companies they fight for. Such "entrepreneurs become CEOs" include John C. Martin of Gilead Sciences, Leonard Schleifer of Regeneron Pharmaceuticals, and Richard Pops of Alkermes.

There is also a type of venture capitalist that you might call a “family-friendly” venture capitalist. They come up with an original science platform or an asset with prospects, while providing a path for entrepreneurship. For example, Alan Crane of Polaris Partners and Kevin Starr of Third Rock Ventures. This is a very valuable job, but these venture capitalists are able to get paid from venture capital firms.

The Timmerman Report sorts out 12 unique entrepreneurs of the year, a group of biotech entrepreneurs who are willing to pay for their entire lives and have a record of success. Such entrepreneurs will enter the nascent start-ups from the very beginning, while still trying to create value while the company is at a critical juncture. Then, usually in about 5 years, these people will enter the next startup and realize new the value of.

Michael Gilman

Michael Gilman is the co-founder and CEO of Padlock Therapeutics (Cambridge, MA). Bristol-Myers Squibb acquired Padlock Therapeutics for $225 million, with a total value of $600 million. The acquisition is a milestone. The company was only $18 million in venture capital in March of this year until they began researching PAD enzymes for autoimmune diseases. Gilman's previous company, Stromedix, was acquired by Biogen for $75 million, with a total transaction value of $562 million, which is also a milestone.

Michael Gilman didn't find a position he was good at until he was 50. A few years ago, he would not have thought that he would run a startup that was involved in the development of idiopathic pulmonary fibrosis and then moved to different biological fields, such as PAD enzymes. He started as an academic scientist at the Cold Spring Harbor Laboratory, where he focused on knowledge in a particular field. All of this expertise has expanded his industry understanding of senior management positions at Ariad Pharmaceuticals and Biogen.

Startups don't require Gilman to be an expert in any field, because no one can be an expert in any way. Recruitment is critical for a company with only 5-6 people. Gilman said: "As a young person, it is very easy to think of what you are not good at, but sometimes you need to learn to let go. I am no longer a subject matter expert on any scientific subject, but my science Intuition is still intact. I can listen to a story. Although I don't know any expertise about it, I can still judge whether it is interesting and feasible because I can find logical defects."

Nancy Stagliano

Stagliano's career has become the focus of attention. She has been studying biotechnology business at Millennium Pharmaceuticals since the late 1990s, just like many other entrepreneurs. She is the co-founder and CEO of CytomX Therapeutics (located in South San Francisco) and co-inventor of basic technology. She left CytomX in 2011 and is now led by Sean McCarthy. CytomX went public last year with a market capitalization of $350 million.

Today she is the CEO of iPierian (Southern San Francisco), an inducing stem cell company that has undergone several rounds of management flow, and it needs Stagliano's “new leadership.” Ipierian focuses on the development of diseases associated with Tau protein aggregation. treatment. In less than three years, Bristol-Myers Squibb acquired Ipierian for $175 million at a total transaction price of $550 million.

However, the transaction did not reveal the confidential information of the iPierian platform. Prior to the sale, the Stagliano and iPierian boards had disbanded the classic treatment-related assets for the treatment of rare diseases. Finally these assets became True North Therapeutics. The company released some preliminary data from the top five patients at a scientific meeting in June, which is quite encouraging.

Like Gilman, Stagliano said she likes to work in a small company like True North, with 17 people working together toward a unified goal. She is not sure if she wants to run a company with more than 50 people. “I make sensible and quick decisions while taking action quickly,” Stagliano said. "For new things, you will be very excited and want to put all your belongings on it, but I think I will face difficult choices on some large machines, because things there can't be as fast as you decide, because You can't live on the edge all the time."

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