Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

People gave us great feedback about the event. Thanks to all for coming out!

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Tony Coles, CEO of Onyx, made some welcoming remarks as the event's host. When he was done, he took a seat for the opening panel. While he may be the boss, I teased him that it doesn't mean he can sit in MY moderator's chair. He happily scooted down one seat.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Tony Coles of Onyx (center) said he expects genomic technologies and personalized medicine to be part of the solution to the problems in pharmaceutical R&D.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

The opening keynote chat featured 3 CEOs of publicly traded biotechs in South SF. From left, Robert Blum of Cytokinetics, Mike Morrissey of Exelixis, and Tony Coles of Onyx.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Steve Richards, a chemist at UCSF, asked a couple pointed questions to keep the speakers on their toes.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

James Sabry (right) said Genentech didn't want to buy Constellation outright, and risk wrecking a good working startup culture.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Mark Goldsmith of Third Rock joined Genentech's James Sabry on stage for a chat about a recent deal they did when Goldsmith was at Constellation Pharmaceuticals.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Peter Thompson of OrbiMed Advisors discussed his firm's portfolio strategy that ranges from very early startups (Cleave Biosciences) to the biggest of Big Pharma stocks.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Mark Goldsmith of Third Rock Ventures surely had a lot to talk about, as his firm is one of the few traditional VCs still doing early-stage investing.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

We had lots of time for networking before/during/after the event.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Aron Knickerbocker of FivePrime Therapeutics made the short trip over to Onyx for the event.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Jens Eckstein of SR One talked about the value of being a VC with only one limited partner to answer to: GlaxoSmithKline.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Diego Miralles of Johnson & Johnson gave an enthusiastic talk about his company's San Diego incubator. It will take 5 years to see if it really worked, he says.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

We had some great questions from the audience, as always.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Richard Lindberg of Pfizer described its Centers for Therapeutic Innovation, and how it's designed to improve pharma/academic alliances. So far, Pfizer has gotten 400 proposals from academics around the U.S., and has funded 23.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Deepa Pakianathan said she sees the business cycle turning more in biotech's favor.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Risa Stack talked about how KPCB has increased its focus on payers, and politics, to help give its entrepreneurs at leg up.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Risa Stack of Kleiner Perkins (left) and Deepa Pakianathan of Delphi Ventures discussed what traditional VCs are doing to adjust to make biotech investing more efficient.

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

We had an early arriving crowd, always a good sign...

Reinventing Biotech's Business Model

Reinventing Biotech's Business Model

Big Pharma is cutting back on internal R&D, many biotech venture capital firms that once financed innovation are going extinct, and federal research budgets are under perennial attack. It’s all enough to make a guy wonder, where are all the great new drugs going to come from in the next decade if there’s so much cutting going on?

Fortunately, there are a quite a few people in the biotech industry thinking hard about this question, experimenting with new business models that are attempting to reduce the time, money, and risk that goes into creating new healthcare products. So we talked about some of the various ideas percolating around the industry earlier this week at Xconomy San Francisco’s big event, “Reinventing Biotech’s Business Model.”

Thanks to all the speakers and attendees who brought so much creative energy to this event. And a special thanks goes out to Onyx Pharmaceuticals, which was a tremendous host. I hitched a ride there, but I heard that Onyx even had people helping direct guests to where the parking spots were in an otherwise pretty packed lot at their fast-growing company. Nice.

Thanks also to my Xconomy colleague Wade Roush, who snapped a bunch of photos while I was gabbing away. Enjoy the photos, and come join us at our next gathering.

  • Steve Keough

    Luke:

    Excellent program at this event! I came in from South Dakota, and was very pleased with the content. It is helpful to be frequently reminded that a successful life sciences industry requires many different stakeholders. Each of these sector stakeholders must remain engaged and optimistic for the grand plan of sector growth to succeed. Thanks to all the speakers for their interesting and hard-won perspectives.

    Steve Keough
    CEO, pharmaCline