How Are Small Biotechs Competing With Having The "Best" Members On Their Boards? What Type Of Experience Are They Looking For?

A: AS A CEO, ONE WAY TO THINK ABOUT WHO SHOULD BE ON YOUR BOARD IS TO ASK YOURSELF WHO YOU WOULD WANT TO HAVE AROUND THE TABLE WITH YOU WHEN THINGS DON’T GO ACCORDING TO PLAN. I think that will likely lead to choosing people with experience, diversity, and a strong network. Of course, no one person will be all of this to the depth you’ll want, but the hope is that, together, they will. As for specific technical or scientific expertise, that can certainly be helpful, but a board needs more than that to truly add value. The specific skillset a company needs will change over time as the company evolves, so the board will need to change, too.

RACHEL KING has nearly 30 years of experience in various management roles in the biotech and pharmaceutical industries. She is the CEO of GlycoMimetics, a publicly traded biotech in Maryland.