A: TRUE BIOTECHS TYPICALLY have a single program driving value and capital expenditure. Functioning as pods of innovation, small biotechs are struggling and striving to find the next breakthrough. Their resources are limited, organizational structure flat, and decision making efficient. In a small biotech each person is laser focused, has a sense of urgency, and is empowered to work on tasks beyond predefined responsibilities. Big companies could benefit from adopting a similar mentality that empowers teams to not only take calculated risks, but reward those that are successful. Disincentivize the stagnant status quo and eliminate legacy baggage, waste, and redundancy (i.e., costly check-and-balance “safety” mechanisms). Communicate regularly, lead by example, and eliminate the ability of personnel to hide in bureaucracy.
Leslie is president, CEO, and founder of ImmusanT, Inc., an early-stage company focused on peptide treatments for autoimmune diseases. She has more than 20 years of industry experience.