Overview
During this session, Keynote Speaker John Maraganore shared business lessons from a startup perspective and how to create an impactful commercial business plan that anticipates industry risks while prioritizing innovation and client engagement. He also outlined how to raise capital considering the 2024 US presidential election and the impact of clinical data on investor valuation.
Session panelist:
John Maraganore, PhD, Founding CEO, Alnylam Pharmaceuticals, Inc.; CEO and Principal, JMM Innovations, LLC
In Depth
Top takeaways included:
- Clinical Data Is the Key to Valuation. Quality clinical data is essential to investment-backed success. Not only does clinical data build confidence in the company, but it also raises capital and connects patients with products or services. To produce high-quality clinical data, it is important to first have a well-defined business culture and plan. Further, to access capital from an equity sale to investors or through other deals within the life sciences industry, higher quality science is a requirement to ensure investors of a company’s success and future security.
- Double Down on a Commercial Business Plan. A quality commercial business plan strengthens market success. When building one, consider how to solve for known-knowns, known-unknowns, and unknown-unknowns at all stages of business development. Early-stage companies can solve for both known-known and known-unknown industry risks or claims affecting buy-side deals with experience and preparation. As for unknown-unknowns, a well-managed culture focused on patients, innovation, and stakeholders can mitigate risk. Additionally, management should consider tightening hybrid business models to encourage in-person engagement and innovation.
- The Intersection of Social Media and Life Sciences Requires Active Lobbying to Protect Public Trust in Science. The life sciences industry’s greatest risk in a digital age is social media. While social media can positively impact certain areas of the industry from an awareness and patient connectivity perspective, it may also confuse the inviolability of scientific evidence and developments. Therefore, following the 2024 US presidential election in which digital activism and social media use was at its highest, the life sciences industry must lobby the incoming Trump administration to protect itself via any necessary regulations.
