|   From the Trenches

(Do Not) Let The Chips Fall Where They May

“You gotta know when to hold ‘em, know when to fold ‘em, know when to walk away, know when to run…” Kenny Rogers’ The Gambler, a song now enshrined in the Library of Congress’ National Recording Registry, is what I consider the soundtrack of business development. It has played over and over in my mind since his death earlier this year, inspiring contemplation about the right approach in negotiations. As it relates to business development deals in the biotech sector, one may think I am talking about upfronts, milestones, royalties, and extracting fair value. But so much of what makes a good or bad deal, in hindsight, lies beyond the headline financial terms.  Experience has taught me that small things matter. I may be labeled persnickety or stubborn in a negotiation, but if you are willing to go into “the weeds” on deal terms, walking away can be the right decision if your concerns are not addressed. Conversely, successful partnerships, promote the business success of both parties down to the finest detail of an agreement.

By Pamela L. Esposito, CBO of Replimune, as part of the From The Trenches feature of LifeSciVC.

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  |   LifeSciVC

Kymera Debuts On The Public Markets

By Bruce Booth, DPhil, Partner

August continued to show the biotech market’s resilience in the face of the COVID pandemic with one of the biggest venture fund flows for the month ever, and a half a dozen IPOs. Kymera Therapeutics was one of those August IPOs, and as its co-founder I wanted to share a few reflections.

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  |   From the Trenches

Zooming in on What Matters!

A lifetime ago, in May 2020, I had the honor of writing my first “From the Trenches” blog. I highlighted our long-range planning (LRP) approach at Xilio Therapeutics reframed as Leaders Require Purpose. I shared our belief that aligning our long and mid-range planning efforts to our vision and values would guide us through the ups and downs of developing innovative oncology treatments for the patients we serve. I posited that having this shared understanding would help us be more proactive vs. reactive. I ended that blog with the “stay tuned” teaser that we were continuing that process remotely and would be conducting our entire company offsite virtually.

This blog was written by Rene Russo, CEO of Xilio Therapeutics, as part of the From The Trenches feature of LifeSciVC.

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  |   From the Trenches

Leave a Ladder Down, Part Deux

I have been privileged to read and write for this LifeSciVC blog for a handful of years now.  One of my favorite editions is Leave a Ladder Down from Ros Deegan in 2019, both because I was amazed by her knowledge of the Khumbu Icefall in Nepal and because I like the image of leaving a ladder down to help others up as we navigate the inevitable career ladder.

By Samantha Truex, CEO of QuenchBio, as part of the From The Trenches feature of LifeSciVC.

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  |   LifeSciVC

The Record-Breaking Biotech Funding Tsunami Of 1H2020

By Bruce Booth, DPhil, Partner

We’re half way through one of the craziest years in recent memory, with a raging viral pandemic, civil unrest and protests, staggering unemployment and economic woes, and invasive murder hornets. And yet, like the indefatigable Energizer bunny, the biotech market just keeps marching onwards and upwards.

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