The right mix mat­ters in bio­phar­ma lead­er­ship

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Break­ing the bio­phar­ma glass ceil­ing isn’t just a moral is­sue; it’s a share­hold­er is­sue. McK­in­sey re­port­ed in a re­cent study that com­pa­nies in the top quar­tile for gen­der di­ver­si­ty are 15 per­cent more like­ly to gen­er­ate fi­nan­cial re­turns above the in­dus­try av­er­age; those in the top quar­tile for racial and eth­nic di­ver­si­ty are 35 per­cent more like­ly to do so.

The right mix of ex­pe­ri­ence, per­spec­tives and back­grounds is al­so a pa­tient is­sue. Whether it’s choos­ing the right end­point for a prospec­tive ther­a­py or mar­ket­ing a prod­uct in a way that will en­able physi­cians and pa­tients to ac­cess the right med­i­cine at the right time, more com­pa­nies are be­gin­ning to un­der­stand the need to di­ver­si­fy their ranks and groom lead­er­ship teams as di­verse as the clin­i­cians and fam­i­lies they’re try­ing to reach. It’s good busi­ness and it’s good for pa­tients.

There are bio­phar­ma com­pa­nies mak­ing in­cred­i­ble progress in the di­ver­si­ty and in­clu­sion space. Oth­ers want to di­ver­si­fy and are ask­ing for help to broad­en ex­ec­u­tive and board search­es out­side of what are of­ten ho­moge­nous per­son­al net­works. That’s why the Biotech­nol­o­gy In­no­va­tion Or­ga­ni­za­tion — the world’s largest biotech trade and ad­vo­ca­cy group — is launch­ing a new in­dus­try­wide ini­tia­tive called The Right Mix Mat­ters.

Based on my con­ver­sa­tions, a crit­i­cal mass in biotech al­ready knows that we have a pipeline prob­lem. We should be fas­tid­i­ous in our ef­forts to pro­mote more women, mi­nori­ties and LGBT ex­ec­u­tives up the ranks. Many of us in C-suites and board rooms do feel a sense of ur­gency: More in­sti­tu­tion­al in­vestors and ven­ture cap­i­tal­ist are look­ing at lead­er­ship di­ver­si­ty as a fac­tor in where to put cap­i­tal. Frankly, this needs to be a wake-up call for our sec­tor.

Na­tion­al­ly, on­ly sev­en to nine per­cent of CEO po­si­tions at biotech com­pa­nies are filled by women, ac­cord­ing to na­tion­al sur­veys by Lift­stream. It still hap­pens that when I go to net­work­ing events with my fel­low CEOs, I’m of­ten the on­ly woman in the room.

Like al­most every fe­male physi­cian of my era in Scot­land, I re­ceived my med­ical train­ing dur­ing a time when it was as­sumed we would quit our jobs or work part-time when start­ing a fam­i­ly. As a doc­tor in train­ing, I lost count of the num­ber of times I was asked to make a cup of tea for every­one while my male col­leagues talked about their ca­reer paths with the con­sul­tants.

I be­came a doc­tor be­cause I care deeply about the wel­fare of pa­tients, and be­came a rheuma­tol­o­gist be­cause I’ve al­ways been at­tract­ed to the most con­found­ing ar­eas of med­i­cine. I dis­cov­ered help­ing pa­tients suf­fer­ing from vex­ing con­di­tions al­most al­ways re­quired more than even the most de­ter­mined doc­tor’s best ef­forts. The in­ter­ven­tions of the rheuma­tol­o­gist, nephrol­o­gists and oth­er spe­cial­ists might be life-sav­ing, but it was the phys­io­ther­a­pist, wound nurse and oc­cu­pa­tion­al ther­a­pist who made pa­tients’ lives liv­able. This recog­ni­tion that di­verse back­grounds pro­duce the best so­lu­tions has lived with me ever since.

My ca­reer took me to the Unit­ed States for a role in the bio­phar­ma­ceu­ti­cal in­dus­try in clin­i­cal de­vel­op­ment. I put in for a trans­fer on the com­mer­cial side, where­upon the head of mar­ket­ing and sales in­formed me, “You are fe­male, Scot­tish and an M.D. You’re just not the right fit.” For­tu­nate­ly, that com­pa­ny even­tu­al­ly got new lead­er­ship, and I found a cham­pi­on in the C-suite who saw some­thing in me. He spon­sored for a com­mer­cial lead­er­ship role even though I didn’t yet have all the ex­pe­ri­ence of the “per­fect” can­di­date. With­out a cham­pi­on will­ing to open the door to that first crack at broad­er lead­er­ship roles, many women and mi­nori­ties in cor­po­rate Amer­i­ca lan­guish in mid­dle man­age­ment in per­pe­tu­ity —un­able to move up and in­to the C-suite.

But I did move up. When I be­came a can­di­date for my first CEO role, I hired a coach to help me in­crease my ef­fec­tive­ness as a com­mu­ni­ca­tor. I pos­sessed that fa­mil­iar fem­i­nine trait of fail­ing to take enough per­son­al cred­it for my role in the suc­cess­es of teams I led. My coach helped me un­der­stand that in­ter­view­ing with boards is not the time to be mod­est. He was right. I learned how to bet­ter sell my cre­den­tials, ex­pe­ri­ence and abil­i­ties, be­com­ing one of the for­tu­nate few to crack the glass ceil­ing in the bio­phar­ma­ceu­ti­cal in­dus­try.

As the cen­ter­piece of BIO’s ef­fort, BIO Board­list went live this month. It’s a search­able on­line data­base of di­verse tal­ent where ex­ec­u­tives can nom­i­nate promis­ing tal­ent and where search com­mit­tees can find lead­er­ship can­di­dates that meet their busi­ness needs. The tool was de­ployed by the high-tech in­dus­try in 2017 in the wake of a firestorm ig­nit­ed by the con­tro­ver­sial writ­ings of a Google en­gi­neer that sparked an in­dus­try­wide dis­cus­sion about sex­ism. Now, BIO is bring­ing this tool to the bio­phar­ma sec­tor.

We al­ready have near­ly 50 out­stand­ing, pre-vet­ted can­di­dates who are search­able in BIO Board­list. Our job now is to add more high­ly qual­i­fied, di­verse lead­ers to the data­base. Once we do, BIO Board­list will be es­pe­cial­ly help­ful for small­er and emerg­ing bio­phar­ma com­pa­nies that do not yet have a ro­bust hu­man re­sources func­tion or the means to hire ex­ec­u­tive re­cruiters. BIO Board­list can help com­pa­nies iden­ti­fy, lift up and in­clude di­verse ex­ec­u­tives with lead­er­ship qual­i­fi­ca­tions and as­pi­ra­tions.

BIO al­so launched a sec­ond re­source — a di­ver­si­ty and in­clu­sion toolk­it. We have pooled to­geth­er the best re­sources from suc­cess­ful pro­grams across BIO mem­ber com­pa­nies. Com­pa­nies will find spe­cif­ic HR tem­plates that can be down­loaded and schol­ar­ly pieces and train­ing cours­es on such top­ics as un­con­scious bias, men­tor­ing and spon­sor­ship.

As a prac­tic­ing rheuma­tol­o­gist, I learned that it can take a vil­lage to give pa­tients a life worth liv­ing. Work­ing my way up the ranks to the CEO’s of­fice in bio­phar­ma, I have dis­cov­ered the same of­ten holds true to de­vel­op a med­i­cine worth tak­ing or a clin­i­cal pro­gram worth fund­ing. If you’re lead­ing a biotech com­pa­ny and want to do right by your con­sumers, in­vestors and share­hold­ers, the right mix re­al­ly does mat­ter.


Dr. He­len Tor­ley is CEO of Halozyme Ther­a­peu­tics in San Diego and chairs BIO’s Com­mit­tee on Work­force De­vel­op­ment, Di­ver­si­ty and In­clu­sion. Biotech Voic­es is a con­tributed col­umn writ­ten by se­lect End­points News sub­scribers.

IDC: Life Sci­ences Firms Must Em­brace Dig­i­tal Trans­for­ma­tion Now

Pre-pandemic, the life sciences industry had settled into a pattern. The average drug took 12 years and $2.9 billion to bring to market, and it was an acceptable mode of operations, according to Nimita Limaye, Research Vice President for Life Sciences R&D Strategy and Technology at IDC.

COVID-19 changed that, and served as a proof-of-concept for how technology can truly help life sciences companies succeed and grow, Limaye said. She recently spoke about industry trends at Egnyte’s Life Sciences Summit 2022. You should watch the entire session, free and on-demand, but here’s a brief recap of why she’s urging life sciences companies to embrace digital transformation.

Martin Landray, Protas CEO (Illustration: Assistant Editor Kathy Wong for Endpoints News)

Those big bil­lion-dol­lar PhI­II stud­ies? Mar­tin Lan­dray says they can be done for a tiny frac­tion of the cost

Martin Landray knows what controversy in clinical drug development feels like, from first-hand experience.

Landray was the chief architect of RECOVERY, a study that pitted a variety of drugs against Covid-19. And he offered some landmark data that would help push dexamethasone out into broader use as a cheap treatment, while helping ice hydroxy’s reputation as a clear misfire.

“Lots of people told us we shouldn’t use it,” Landray says about dexamethasone and Covid-19. “It was dangerous. We shouldn’t even do a trial. They also cared about hydroxychloroquine and lots of people said we shouldn’t do a trial because it must be used. I’ve got the letters from both sets of people.”

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FDA ap­proves one of the prici­est new treat­ments of all time — blue­bird's gene ther­a­py for be­ta tha­lassemia

The FDA on Wednesday approved the first gene therapy for a chronic condition — bluebird bio’s new Zynteglo (beti-cel) as a potentially curative treatment for those with transfusion-dependent thalassemia.

The thumbs-up from the FDA follows a unanimous adcomm vote in June, with outside experts pointing to extraordinary efficacy, with 89% of subjects with TDT who received beti-cel having achieved transfusion independence.

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Geoffrey Porges, new Schrödinger CFO

Long­time an­a­lyst Ge­of­frey Porges de­parts SVB to lead fi­nances at a drug dis­cov­ery shop

Geoffrey Porges has ended his two-decade run as a biotech analyst, as the former SVB Securities vice chair began as CFO of Schrödinger on Thursday.

The long-running analyst, who previously headed up vaccines marketing at Merck before the turn of the millennium, will lead the financial operations of the 700-employee company as Schrödinger broadens its focus from a drug discovery partner to also building out an in-house pipeline, with clinical trial No. 1 set to begin next quarter.

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James Dentzer, Curis CEO

FDA lifts par­tial hold on Curis' lym­phoma study — shares spike

Four months after the FDA put two clinical trials from Curis on clinical hold, the FDA is now apparently content with how the biotech will change up managing one of the studies.

The Massachusetts oncology biotech put out word early Thursday that the federal regulator lifted a partial clinical hold of the company’s Phase I/II study of emavusertib in lymphoma, following a new data package that the biotech recently submitted to the agency. Shares of the biotech $CRIS, hovering just above penny stock territory, shot up more than 55% in early trading before settling at close to a 30% share price boost.

Astel­las' hot flash­es drug will get speedy re­view at FDA; US opts out of Val­ne­va vac­cine

The FDA will decide on Astellas’ menopausal symptom drug by Feb. 22 of next year, as the Japanese pharma disclosed it had paid about $97 million to get a priority review voucher to speed up the review.

Astellas said the agency has accepted the pharma’s application for fezolinetant for the treatment of moderate to severe vasomotor symptoms (VMS) associated with menopause. VMS includes hot flashes and/or night sweats. The company said as many as 80% of women in the US experience those symptoms during or after the menopausal transition.

Bayer's first DTC ad campaign for chronic kidney disease drug Kerendia spells out its benefits

Bay­er aims to sim­pli­fy the com­plex­i­ties of CKD with an ABC-themed ad cam­paign

Do you know the ABCs of CKD in T2D? Bayer’s first ad campaign for Kerendia tackles the complexity of chronic kidney disease with a play on the acronym (CKD) and its connection to type 2 diabetes (T2D).

Kerendia was approved last year as the first and only non-steroidal mineralocorticoid receptor antagonist to treat CKD in people with type 2 diabetes.

In the TV commercial launched this week, A is for awareness, B is for belief and C is for cardiovascular, explained in the ad as awareness of the connection between type 2 and kidney disease, belief that something can be done about it, and cardiovascular events that may be reduced with treatment.

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James Mock, incoming CFO at Moderna

Mod­er­na taps new CFO from PerkinElmer af­ter for­mer one-day CFO oust­ed

When Moderna hired a new CFO last year,  it didn’t expect to see him gone after only one day. Today the biotech named his — likely much more vetted — replacement.

The mRNA company put out word early Wednesday that after the untimely departure of then brand-new CFO Jorge Gomez, it has now found a replacement in James Mock, the soon-to-be former CFO at diagnostics and analytics company PerkinElmer.

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Etleva Kadilli, director of UNICEF’s supply division

GSK lands first-ever UNICEF con­tract for malar­ia vac­cine worth $170M

GSK has landed a new first from UNICEF the first-ever contract for malaria vaccines, worth up to $170 million for 18 million vaccine doses distributed over the next three years.

The vaccine, known as Mosquirix or RTS,S, won WHO’s backing last October after a controversial start, but UNICEF said these doses will potentially save thousands of lives every year.

“We hope this is just the beginning,” Etleva Kadilli, director of UNICEF’s supply division, said. “Continued innovation is needed to develop new and next-generation vaccines to increase available supply, and enable a healthier vaccine market. This is a giant step forward in our collective efforts to save children’s lives and reduce the burden of malaria as part of wider malaria prevention and control programmes.”