Understanding How to Work with Multi-National Bio Companies

By: Mordechai Applebaum

Mordechai Applebaum

JLM-BioCity’s event – “What Global Companies Seek in Jerusalem Bio Innovation” – took place on the 29th of January, 2017 at the Azrieli College for Engineering. The event began with succinct 1-minute elevated pitches from start-up companies that included representatives from Phytor, Triox Nano, Salignostics Ltd and NIMD.

In this event JLM-BioCity invited executive managers from multi-national bio companies to share with the audience their view of the industry. These figures included Guido Pardo-Roques (President and CEO of Philips Israel), Jonathan Goldstein (Director of Corporate Research and Ventures at Boston Scientific Corporation), Marc Feiglin (Head Technology Scouting, Partnership & Program Management at Merck Israel) and Ilya Budik (representing Boehringer Ingelheim). Each outlined the vision and interest of their respective companies. While each company focuses on specific cluster of interests, there was a general agreement that healthcare spans more than mere diagnostics and treatment. Monitoring, informatics and digital health are relevant prior to hospitalization, post-hospitalization, during disease management and at home care. The guiding concept is disease continuum. The big companies offer many diverse programs to mentor, assist, collaborate and develop start-up companies at various stages of their maturation. The panelists urged early stage start-ups to engage with large companies as their input is invaluable and the benefit go beyond mere finance. Meeting with the right people from such global bio companies not only can help focus them on a clear market strategy but a sound strategy for the regulatory process. A startup with an endorsement from a global company, including invaluable advice, would have far better appeal to investors.

Panel - What Global Companies Seek
The panelists at the Q&A session (from left): Guido Pardo-Roques (Philips Israel), Jonathan Goldstein (Boston Scientific Corporation), Marc Feiglin (Merck Israel), Ilya Budik (Boehringer Ingelheim) and Dr. Yaron Suissa (JLM-BioCity).

The Q and A session that followed offered a deeper and personal glance into specific subjects. Israel’s innovation was lauded and repeatedly mentioned as one of the industry’s foremost strengths. However, the Israeli bio-industry needs to deepen and expand collaborative efforts, broaden the view beyond merely proving a product is efficacious, recognize the extensive influence multi-national companies can have on developing a marketable product and better understanding how to approach big companies. There was also a general consent that MBA programs are really are useful when supplementing sufficient industry experience.

“I was really impressed with JLM-BioCity’s ability to bring out leaders from the life science ecosystem as well as upcoming start-ups,” remarked Ilya Budik of Imagine Bio, representing Boehringer Ingelheim.

“This was also a unique opportunity for me to meet representatives of other multinational companies from other interest domains,” added Guido Pardo-Roques, President and CEO of Philips Israel.

The audience alike were full of praise on the event. “A great opportunity for an eye to eye and sincere meeting between stakeholders and start-ups. Unique!!!” Commented Dr. Yehoshua Maor of Phytor Ltd.

 

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