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Mentoring, consulting and counselling for biotech management and boards Introducing the services of BioMentoring Australia 1BioMentoring Australia.

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Presentation on theme: "Mentoring, consulting and counselling for biotech management and boards Introducing the services of BioMentoring Australia 1BioMentoring Australia."— Presentation transcript:

1 Mentoring, consulting and counselling for biotech management and boards Introducing the services of BioMentoring Australia 1BioMentoring Australia

2 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 2BioMentoring Australia

3 The challenge and promise of biotech in Australia Below Tier 1 Promising 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 3BioMentoring Australia

4 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 4BioMentoring Australia

5 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 companies Research undertaken at Monash during Postgrad Mentoring and Coaching course identified: Leadership qualities A Set of Competencies 5BioMentoring Australia

6 Mentoring 6 BioMentoring Australia Personal QualitiesExternal factors Operating Principles and Practices Management competencies Effective Biotech Leadership Mentoring can help to adapt Mentoring can help to develop Influences on effective leadership and management

7 Desirable characteristics for a biotech CEO 7BioMentoring Australia 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

8 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 8BioMentoring Australia

9 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 9BioMentoring Australia

10 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 10BioMentoring Australia

11 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 11BioMentoring Australia

12 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 12BioMentoring Australia

13 Consulting services Current 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 13BioMentoring Australia

14 Interim CEO services Ex 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 14BioMentoring Australia

15 Meeting services Ex 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 15BioMentoring Australia

16 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 16BioMentoring Australia

17 Database for Director candidates We’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 17BioMentoring Australia

18 Purpose: support individuals, improve organisations and build industry capability Contact: Tom Williams Ph: 0419 868 911 Eml: 18BioMentoring Australia

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