Given the hour — 4:30 a.m. in California, 7:30 a.m. in Boston — no one turned on their webcams.
About 180 executives and venture capitalists from large biotech companies and small start-ups alike dialed in to a WebEx call Monday. All were hoping the group chat would help them make big decisions about how to proceed with research, how to raise money from investors — essentially, how to run a biotech company in the time of coronavirus.
The biotech IPO market in 2020 remains strong, despite the volatility and COVID headwinds. We’ve seen stellar pricings and good after-market performance, with ten new offerings already this year. And the queue for companies with active S1’s on file is growing; another dozen or so are likely to go out by mid year.
Standing in the front lines of the Covid-19 response, Alex Harding can see a great future in biotech.
For Alex Harding, being a physician was never going to be enough.
I am a planner. I like to plan most things well in advance; in fact, maybe too far in advance for some. This has often been an asset for me, yet I am pretty sure it can also drive people crazy. A teenager doesn’t like to be asked for the plan to complete a project that is due in 2 weeks. A scientist doesn’t always like to think in decision trees to map out the path of possible outcomes from an assay or a study – and from the assay or study after that.
This blog was written by Samantha Truex, CEO of Quench Bio, as part of the From The Trenches feature of LifeSciVC.
If CEOs have empowered their teams effectively, they have three roles during times of rapid change:
- Motivator in chief (Championing culture & values, ensuring the team stays true to these)
- Focuser in chief (Setting strategy and ensuring that stakeholders align around it)
- Balancer in chief: Decisions that balance benefits and costs to the enterprise using a unique, multi-disciplinary vantage point
This blog was written by Ankit Mahadevia, CEO of Spero Therapeutics, as part of the From The Trenches feature of LifeSciVC.