Meet & Greet with Sandoz Pharmaceuticals. Trends in Venture Capital Investing Spotlight On: Science  Policy Careers. Download pdf or...

AIS MEMBER MEETING: MEET AND GREET WITH SANDOZ

AIS held our first matchmaking member meeting with Sandoz, a Novartis company. Three representatives from the Broomfield office, Melissa Figgins- Director of Quality Control, Eric Hoffman- Business Analyst, and Bryan Hunt- Manager of Laboratory Operations gathered around the 8th floor conference room table to share their experience and advice on working for the industry. The Novartis culture is one in which they freely share talent within the company, and want to help grow their employees careers. One of their missions is to be the most respected pharmaceutical company in the world. This company prides itself on helping people improve their lives. The CEO, Daniel Vasella, has single handedly tried to help with world health issues by not charging for medications that treat leprosy and tuberculosis. Sandoz specializes in making generic drugs. This strategy works for Novartis because they develop drugs at lower costs. The company reverse engineers drugs before the patent expires, performs bioequivalence studies, and then files an abbreviated new drug application (ANDA) with the FDA. There are many areas within the industry a scientist can work on besides research and development. The key is getting your foot in the door, and then one can move around the company and find the job for which your suited. One area specifically elaborated on was pharmacovigilance, which is concerned with safety reports of drugs already on the market. All three representatives emphasized the necessity to network. Melissa Figgins has found that she gains personal satisfaction from placing people into a job that is a good match. When she interviews, she looks for people that have leadership skills, are results driven, and that have a vision. The opportunity to network within the Novartis family at our matchmaking members meeting proved invaluable. Figgins was even accepting resumes, and giving AIS members an opportunity for their first face to face meeting.

CBSA BIOBREAKFAST: Trends in Venture Capital Investing

The biobreakfast was held at the Museum of Nature and Science in Denver, and focused on trends in venture capital investing. Venture capital is the large sum of private money that is used to take a marketable idea from possibility to reality. Venture capitalists are intense overseers who manage teams of Cs (CEO, CSO, COO, CFO) and create a functioning company where there was once a simple idea. Three local venture capitalists, with differing views on the trade, spoke about their unique approaches. The panel included Andrew Schwab- Founder and Managing Partner of 5am Ventures, Karen J. Cassidy- Principal of Partisan Management, and Dan Mitchell- Founding Partner of Sequel Ventures. The technology comes first for Schwab’s company, which creates products that are marketed and sold to pharmaceutical companies. Schwab said that he expects a three to ten fold return on any investment. At ten to fifty million dollars invested, the return is unmistakably large. There are immense amounts of money at stake and as Schwab said, there are always going to be hiccups and setbacks. His strategy for success is to have a strong network of advisors, working with people that he knows, and making sure that the companies he creates are viewed in an international market. Karen Cassidy’s approach to this high-stakes career is inimitable. She works with raw material. The people are somewhat inexperienced and the idea is not fully formed. She likes to build from an underserved market. Starting with raw ideas and using entry on the ground floor attracts the volunteer assistance of lawyers and other peripheral, but important players. Building a “C” team much earlier in the process than other venture capitalists, Cassidy relies on people who may not be seasoned running a company. Cassidy says that bringing people in early on can be an asset, they tend to own the work more than a late-comer. Dan Mitchell jokingly described his strategy as “laziness”. Proof of concept is what attracts him to a new investment. He feels that failure for a start-up company is acceptable only if attributed to the technology and not to the management team. When asked to describe successful entrepreneurs, the panel came up with: creative, shapeable, driven, confident, and greedy. A laugh came over the crowd with the mention of greedy, but the panel shrugged and agreed that an entrepreneur has to really want to make a lot of money or she never will.

SPOTLIGHT ON: SCIENCE POLICY CAREERS

The month of October provided ample opportunity for scientists to learn about science policy careers. Cynthia Robbins-Roth, author of “Alternative Careers in Science: Leaving the Ivory Tower,” made an impromptu visit to both UC campuses elucidating the internship opportunities, for scientists at any career level, on Capital Hill. AAAS, American Association for the Advancement of Science, offers several fellowship opportunities in six areas: congressional, diplomacy, energy/ environment/agriculture & natural resources, global stewardship, health/ education/human services, and national defense/global security. These fellowships are only open to candidates that have completed their PhD. The average age of a fellow is thirty-five. These fellowships are more easily obtained by seasoned scientists looking to apply their knowledge in new ways. Robbins-Roth stressed that recent graduates need to show genuine interest in public service via activities in student government or volunteer work to be seriously considered for a fellowship. For more information or applications: fellowships. aaas.org. Toward the end of October, a UCHSC Professor, Jeff Kieft, provided an in depth look at the life of a science policy fellow working in the White House. Dr. Kieft worked as a staff member of the White House Office of Science and Policy, under the executive office of the President. The fellowship was a life changing experience and he learned a wealth of information about scientific fields well beyond his expertise. Kieft said that the fellows are the resident expert on all scientific questions. It is the fellows job to seek out experts in the specified field, swiftly learn everything, and impart their new found knowledge on the government office to which they are assigned. Kieft was a fellow during the 911 attacks and was involved in decisions regarding mail sterilization after the anthrax scare, homeland security technology testing, global climate change, and Gulf of Mexico hypoxia.