Maybe It’s Innate


This post is by Samantha Truex from LifeSciVC


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This blog was written by Samantha Truex, Atlas EIR and CEO of Quench Bio, as part of the From The Trenches feature of LifeSciVC.

Recently I read the article What’s Wrong With Me? that I saw re-posted on Twitter.  It’s a 2013 New Yorker article chronicling one woman’s journey through years of multi-symptom autoimmune/autoinflammatory disease with undiagnosed and untreated maladies.  It’s a long read, but one that I could not leave unfinished as I thought about my multiple friends who followed similar paths for years, each trying to understand what caused her symptoms.  Amongst my close friends are one with multiple sclerosis, one with ulcerative colitis, one with lupus and two with rheumatoid arthritis (RA).  Their diseases are given these titles that imply crisp definitions, but these are heterogenous diseases with overlapping symptoms, so they are difficult to diagnose and treat.  I’ll come back to

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All A-Board


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog is written by Samantha Truex, Atlas EIR and CEO of a stealth-stage biotech, as part of the From The Trenches feature of LifeSciVC.

In a 2014 analysis  of biotech boards and a reprise analysis in 2016, Bruce Booth worked with life science recruiter Catalyst Advisors on this board talent blog. They estimated the demand for talent at >600 biotech Board Director spots needing to be filled in the few years following October 2016.

A critical question posed by Bruce and Catalyst Advisors was, from where will the talent come?   This issue is not unique to biotech.  According to Spencer Stuart’s 2018 board report on S&P 500 boards,  428 new directors were appointed to S&P 500 boards during the 2018 proxy year, the most since 2004.  So the search for talent to fill board seats is vast.

In the original post, Bruce stated, “When I’ve brought this

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How’s My Baby?


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Samantha Truex, CEO of Quench Bio and Atlas Entrepreneur-in-Residence, as part of the From The Trenches feature of LifeSciVC.

In early September, I saw my two teenagers off to new destinations where they will live away from home.  My son entered college and my daughter moved to Spain to live with a host family as part of a high school foreign study program.  While I celebrate their independence, I also find it hard to let them go.  I spent so many hours of so many days with them that life feels a bit empty now that they are gone.  I find myself wanting to check in with my daughter’s host parents to see how she’s doing and how they are feeling about her.  Yet I know I’ve got to let her go and grow, so I try not to check

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How’s My Baby?


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Samantha Truex, CEO of Quench Bio and Atlas Entrepreneur-in-Residence, as part of the From The Trenches feature of LifeSciVC.

In early September, I saw my two teenagers off to new destinations where they will live away from home.  My son entered college and my daughter moved to Spain to live with a host family as part of a high school foreign study program.  While I celebrate their independence, I also find it hard to let them go.  I spent so many hours of so many days with them that life feels a bit empty now that they are gone.  I find myself wanting to check in with my daughter’s host parents to see how she’s doing and how they are feeling about her.  Yet I know I’ve got to let her go and grow, so I try not to check

Continue reading “How’s My Baby?”

Just a Little Patience: In-licensing from Biopharma


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Samantha Truex, an Atlas Entrepreneur-in-Residence, as part of the From The Trenches feature of LifeSciVC.

People who know me well will agree that patience is not one of my personal virtues.  That said, I recognize that certain circumstances in business development call for following the sage advice of Axl Rose: All we need is just a little patience.

I was working for Mike Gilman at Padlock Therapeutics when he wrote The Art of the In-License  here.   Mike offered experienced insight on what it takes to identify that an in-licensing opportunity exists and the often-arduous process one must weather to complete it. At the time of Mike’s blog, we had just finished that long process of licensing intellectual property from GSK.  Having driven that effort and multiple others like it over the years, I’ll add a few thoughts on the subject.

Mike referenced

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To IPO or Not To IPO


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Sam Truex, former CBO of Padlock and Synlogics, and current Atlas EIR, as part of the From the Trenches feature of LifeSciVC.

Funding for biotech companies has been abundant this year. As covered the first week in October by Timmerman Report and Meg Tirrell on cnbc, biotech IPOs are pricing at a steady pace.   Q3 2017 also saw the largest quarterly injection of VC funding into biopharma ever in the history of our industry, at $3.6B according to LifeSciVC.

It is positive, welcome news that interest in biotech investment is solid, particularly given that the outlook for the 2017 funding environment was quite uncertain a year ago. Yet even with eager investors, companies have important decisions to make about the form and pace of financing to pursue. Financing transactions, particularly those beyond Series A, are built on strategic considerations, including:

Option Or Warrant: Alternative Structures For A Future Acquisition


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Samantha Truex, former CBO of Padlock Therapeutics and Atlas Entrepreneur-in-Residence, as part of the From The Trenches feature of LifeSciVC.

The search for creative deal structures that strike a “win-win” balance is a noble one. In a recent quest for such a balance, I delved into a detailed comparison of structures leading to an acquisitions and subsequently received requests from multiple companies for input on these structures.

Given those requests, I thought it would be useful to share a couple of the lessons I learned on this somewhat dry, yet important topic.

Lesson oneprovide a disclaimer.  Here’s mine: the following comments provide a high level view of pros and cons from the perspective of a US individual taxpayer.  You should delve into the specific benefits and risks of your situation with knowledgeable counsel and accountant input before coming to any conclusions

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Beyond Biotech M&A: What Comes Thereafter


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This post was written by Samantha Truex, former CBO of Padlock Therapeutics, as part of the From The Trenches feature of LifeSciVC.

Biotech M&A is all the rage these days. Allergan has acquired four small companies in the past couple weeks. Pfizer won the Medivation prize. Horizon bought rare disease play Raptor. Just to name a few. The past couple years have been some of the most active for deal-makers, underscoring the role of M&A and external sourcing as a key component of Pharma’s pipeline strategy.

Further, Bruce Booth’s recent blog here connects the dots from 1) downward pricing pressure to 2) pharma’s growing need for innovative products to 3) a silver lining of even more biotech deal-making. That’s great for all of us, right? Woohoo. QED. Nuff said.

Hold on. Let’s consider that question more deeply.  Is more biotech deal making truly great for all of us? Specifically,

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Beyond Biotech M&A: What Comes Thereafter


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This post was written by Samantha Truex, former CBO of Padlock Therapeutics, as part of the From The Trenches feature of LifeSciVC.

Biotech M&A is all the rage these days. Allergan has acquired four small companies in the past couple weeks. Pfizer won the Medivation prize. Horizon bought rare disease play Raptor. Just to name a few. The past couple years have been some of the most active for deal-makers, underscoring the role of M&A and external sourcing as a key component of Pharma’s pipeline strategy.

Further, Bruce Booth’s recent blog here connects the dots from 1) downward pricing pressure to 2) pharma’s growing need for innovative products to 3) a silver lining of even more biotech deal-making. That’s great for all of us, right? Woohoo. QED. Nuff said.

Hold on. Let’s consider that question more deeply.  Is more biotech deal making truly great for all of us? Specifically,

Continue reading “Beyond Biotech M&A: What Comes Thereafter”

Biotech BD Transactions: The Soft Stuff


This post is by Samantha Truex from LifeSciVC


Click here to view on the original site: Original Post




This blog was written by Samantha Truex, former CBO of Padlock Therapeutics, as part of the From The Trenches feature of LifeSciVC.

I grew up in a setting where “continuous improvement” and “total quality management” were household terms, as unusual as that sounds.  Given that upbringing, I try to take time periodically to reflect on areas for improvement.   Since I have the luxury of time just now, I have taken a step back to reflect on best practices in business development.

My perspective on BD transactions is based on experiences on both sides of the negotiating table: I spent 17 years in BD at Biogen, Genzyme, and Chiron before becoming the CBO of Padlock Therapeutics.  While there is much to consider regarding transaction structure, that topic is fairly well-covered.  I’ll focus instead here on the “soft stuff” of BD transactions.

So, what is this soft stuff of which

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