3 Tips for a Successful BioPharma Partnership Pitch

During my time in Corporate Development at a large BioPharma company, I observed hundreds of private biotechs make their case for partnership or a Corporate VC investment.  I noticed some constant themes for what works and what doesn’t. Below are three tips for a successful BioPharma partnership pitch.

1.       Know your audience – R&D vs BD meetings

Successful pitches are tailored to the concerns of a particular audience. R&D folks will care about data, data, data and how this program will fit into the existing R&D portfolio (and whose budget it will consume). They are by nature intellectually curious and will enjoy discussing the nitty-gritty details. BD folks care more about the big picture, synergies with the BioPharma’s existing commercial infrastructure, and tactical next steps. They are looking at hundreds of other companies and asking themselves whether they should spend their time on yours. Tailor your presentations wisely and know who will be in the room ahead of time.

2.       Don’t alienate your potential champion

Going around or over a BD person’s head often backfires. Very often, private life science companies will simultaneously try several different avenues to gain the attention of a particular BioPharma. I have seen this approach backfire VERY often because it ignores intra-Company dynamics. Remember, a BioPharma company is not its own living organism. It is made up of individuals with their own agendas. If a BD person who is supposed to “own” a particular space feels their autonomy or authority is being usurped, they will be less likely to champion your company when it eventually hits their desk. This is just human nature, and I have been guilty myself. Find the right person from the get-go even if it takes more time.

3.       Do think beyond Phase 2

Plan your program as though you were taking it through market launch. It shocks me how many companies pitch their Phase 2 program with no concept of the clinical, capital, and time requirements for Phase 3 and beyond. In my opinion, every Phase I biotech company should have financially and operationally modeled their program through ten years post launch. Not only will this guide their Phase 2 operating decisions but it will also heavily influence their partnership discussions and optimal deal structures. Claiming ignorance on the matter and deferring to their potential partner impairs the chances of any partnership at all. Don’t make your partner do all the heavy-lifting.