Mentoring, consulting and counselling for biotech management and boards

Mentoring, consulting and counselling for biotech

management and boards

Introducing the services of BioMentoring Australia

1BioMentoring Australia

BioMentoring Australia

Established by mature ex and current biotech CEOs with international experience

Partners: Tom Williams – Glaxo, HSBC, BioDiem Rudi Michelson – Monsoon

Mentors: Peter Molloy – Pharmacia & Upjohn, Biota Ian Nisbet – CSL, Millennium, Xenome

Tom Williams – Glaxo, HSBC, BioDiem


The challenge and promise of biotech in Australia

Below Tier 1Promising projects (not yet products) and

• Funding issues• Sub critical mass company size• Management and board capabilities• Investor education challenges• Local infrastructure and support service gaps


A new set of support services for biotech management and boards

• Mentoring for CEOs and other execs• Consulting on a range of topics • Interim CEO services• Meeting services• Career conversations• Database of Director candidates


Mentoring for CEOs and other execs

• Biotech CEOs have a particularly broad and demanding set of competency requirements • Peer-to-peer mentoring from independent ex and current CEOs can make a difference to individuals and companiesResearch undertaken at Monash during Postgrad Mentoring and Coaching course identified:• Leadership qualities• A Set of Competencies


Mentoring


Mentoring can help to adapt

Mentoring can help to develop

Influences on effective leadership and management

Desirable characteristics for a biotech CEO


Qualities

• Perseverance• Vision• People person• Effective communicator• Emotional intelligence• Authenticity

Competencies

• Technical skills• Interpersonal skills• Conceptual and analytical skills• Communication skills• Decision making skills• Self management skills

Desirable qualities for CEOs are similar outside of biotech – but many of the competencies are specific to biotech

Biotech CEO competency requirements

• Technology assessment – of the science, the IP, the market potential and its value

• Business plans/models/strategy/goals/execution• Entrepreneurship• Communication: Fund raising/Angel/VC/IPO• Drug/device development/project management a) preclinical, b) clinical, c) regulatory• IP management• Valuations• Negotiating/Licensing/other legal matters

Even a partial list stretches the bounds of what one person can be expected to be competent at


Competency requirements cont.• Board matters• Investor relations• Financial management• ASX Reporting/Governance• Alliance management: academic, industry• Mergers and acquisitions• Business and staff management, cultural change• Risk management/problem solving/decision making• Personal productivity/balance

Even the competencies that appear general to all businesses often turn out to have specific biotech relevant operating principles for their effective management


Mentoring for biotech CEOs

• Any CEO has a tough job – particularly biotech• Australian biotech companies are too small for internal mentoring• There are benefits from having an external mentor – detached from close involvement and the review of CEO performance• Appropriate independent senior or ex biotech execs can provide both competency related mentoring and an experienced ‘sounding board’ for CEOs to benefit professional development and company performance


Mentoring topics• Assessing personal strengths and expanding competencies• Specific life science learnings about fund raising• Negotiating licences, M&As, migrating business models• Strategic issues for drug or device development and for IP• Counselling on company strategy, goals and execution• Productive relationship management – with boards, staff,

academics, industry partners and investors• Project and business risk management• Coaching on behaviours for performance improvement

and professional development• Acting as a confidant in times of crises, or opportunities


The mentoring process• Selecting a mentor• Written agreement – goals, guidelines• Induction• Mentoring for a defined period – generally

for 6 months• Reflection and evaluation• Refinement or separation • Oversight of process


Consulting servicesCurrent and ex biotech CEOs are available for a

range of consulting services including:• Reviewing and reinvigorating Business Plans, Vision

and Strategy• Market and business case assessments• Prioritising and valuing product pipelines• Licensing and other partnership transactions• Mergers and acquisitions• Effective presentations and alternatives for capital

raisings• Leadership coaching and cultural change


Interim CEO servicesEx biotech CEOs are available for short term

assignments• If you need someone to step in for 2 to 6 months

while you’re reassessing the business or searching for a new permanent CEO we can help

• Ex CEOs have real experience in business planning and commercial strategy, international licensing and partnership transactions, fund raising and other critical functions

• Ex CEOs are currently available in Australia and the USA


Meeting servicesEx biotech CEOs are available for key meetings• If you need someone to facilitate an important meeting

we can help, for example at:• Annual strategy meetings – to act as an independent

facilitator guiding debate, or an independent observer providing experienced opinions at the conclusion

• Issue resolution meetings – to facilitate a discussion about concerns where there are differences of opinion, leading to resolution and a more productive future

• Problem solving or brainstorming sessions - where an appropriate outside point of view can expand thinking outside the group’s current paradigm


Career conversations (for CEOs and other execs)

Current and ex biotech CEOs are available for conversations about your career

• If you want to have a confidential discussion with someone about your current job or your next job we can help

• Such conversations can include assistance in assessing your competencies, identifying strengths and how to maximise career opportunities based on those strengths. For non CEOs, insights into what it takes to be appointed as a CEO, or what CEOs look for when making appointments to other senior positions, or what the right niche for you might be

• Conversations can also provide assistance with resolving issues at your current workplace and finding a satisfactory work/life balance


Database for Director candidatesWe’re providing a free service for experienced people who are

interested in being considered for company directorships• The site will be a source for any biotech boards to search for

new non-executive directors• Write to us with a half page biography and photo with full

contact details if you wish to be listed• At the end of your bio, list in order of priority the top 6 areas of

your expertise from the following: accounting, clinical trials, commercialisation, communication, drug development, device development, fund raising, governance, human resources, innovation, IP, legal, licensing, management - biotech, management – other, mergers and acquisitions, regulatory affairs, scientific research, strategy


BioMentoring Australia

Purpose: support individuals,

improve organisations and build industry capability

Contact: Tom WilliamsPh: 0419 868 911

Eml: [email protected]


Documents

Mentoring, consulting and counselling for biotech management and boards