My Profile   |   Print Page   |   Contact Us   |   Sign In   |   Register
ASAP Blog
Blog Home All Blogs
Welcome to ASAP Blog, the best place to stay current regarding upcoming events, member companies, the latest trends, and leaders in the industry. Blogs are posted at least once a week; members may subscribe to receive notifications when new blogs are posted by clicking the "Subscribe" link above.

 

Search all posts for:   

 

Top tags: Alliance Management  alliances  collaboration  partnering  alliance managers  alliance  partners  alliance manager  partnerships  ecosystem  partner  The Rhythm of Business  Strategic Alliance Magazine  Jan Twombly  Eli Lilly and Company  governance  IoT  partnership  biopharma  NetApp  Vantage Partners  2015 ASAP Global Alliance Summit  ASAP BioPharma Conference  Cisco  Healthcare  strategy  innovation  collaborations  C-Suite  Digital Transformation 

The C-Suite Takes Front Seat in Lively Panel Discussion at ASAP BioPharma Conference (Part 3)

Posted By Cynthia B. Hanson, Thursday, November 1, 2018
Updated: Wednesday, October 31, 2018

This is a continuation from the panel discussion “Speak My Language: How to Have a High Impact Conversation with the C-suite,” which took place at the 2018 ASAP BioPharma Conference. See Part 1 of this blog post for background information on the panel, which included:

  • James C. Mullen, chairman of the board of directors at Editas Medicine, Inc., who has grown many organizations dependent on partnerships
  •   Samantha Singer, chief operating officer at the Broad Institute, whose organization partners with multiple industries to achieve the Institute’s mission to impact human health throughout the world
  • Alex Waldron, chief commercial officer at Pear Therapeutics, who is highly skilled at bringing in business development and alliance management expertise to grow a company through partnerships

Christine Carberry, CSAP, chief operating officer at Keryx Biopharmaceuticals, moderated the session. At this point in the discussion, Carberry had just prompted panel members to answer the following: “Let’s dig into where things tend to go awry. How do alliance professionals demonstrate their value to the organization? The second half of my question is, what are some of the pitfalls? Where do alliances get in trouble, and how can an alliance manager avoid those pitfalls?” After listening to the responses (see Part 2 of this blog for panelists’ answers), she added her thoughts.

Carberry: Build C-suite-to-C-suite [connections] early on in the relationship. I use to joke that it’s important to have relationships between companies that play golf so the CEOs can get together. You need to be comfortable getting on the phone with them and having a conversation that can go like this: “This is what we’ve done, tried, and this is why it didn’t work.” This is helpful to an executive. We need to implement what will remove barriers and allow us to go forward. The value proposition may have just changed for the companies: That beautiful future might not get created, because we all know divorce is part of the deal. One of the things you will discover as an alliance manager is  you will get people in the organization grumbling about the partner.

Mullen: How many of you inherited a contact, and you were not at the table? [At this point, nearly everyone raised his or her hand while laughter rippled through the room.] Look for the wishy-washy language. Those are the issues that never got resolved during the contract negotiations.

Singer: No matter how good your business development is, the reality is [your perception of the contract] will not match three months later.

Mullen: If you are talking about “stage gate,” make sure it means the same thing between the partners. It may seem really obvious, but it’s not. Make exactly sure of what they are saying.

Carberry: Have clear definitions. For example, “First Patient In.” You may think things are commonly understood, but lawyers say it’s important to make sure definitions are as clear as they possibly can be.

Carberry then fielded an audience question from Jeremy Ahouse, CSAP, vice president alliances, Merus. “A lot of alliance people complain that when they have to bring bad news, the C-suite thinks they only bring problems. How can you do that so that the messenger doesn’t feel like they will get shot?”

Mullen: You need a fairly straight scorecard for the goals of the partnership, and you need a record against that. That way,  it becomes evident that you are making progress. The fact is, [otherwise], you are just raising problems. Check off the problems, and let them know that they talked to you about it, that work was done, and here’s how it got resolved. Keep a high-level scorecard.

Waldron: I agree on the scorecard. And talk about successes, don’t only talk about problems.

Carberry: Everyone is conditioned to success. So if you are doing your job well, you are having those conversations about problems with us.

Waldron: If your company doesn’t have some kind of periodic review, push for that—even if it’s a 15-minute review. Push for that so you can get in front of them. We had a lot of customers, and both the customers and our company didn’t do everything perfectly. But when I had that review of information first, then when they called me up and let me know, 90 percent of the problem was already solved. I knew about it, cared about it, and it got solved.

See parts one and two of this blog and ASAP Media’s ongoing coverage from the 2018 ASAP BioPharma Conference on the ASAP Blog at www.strategic-alliances.org. You will find interviews with conference presenters and other coverage of leadership and strategy, biopharma-tech partnerships, and other trending conference topics in recent and forthcoming editions of Strategic Alliance Magazine and eSAM Plus

Tags:  Alex Waldron  alliance managers  Broad Institute  Christine Carberry  collaborations  c-suite  Editas Medicine  James C. Mullen  Keryx Biopharmaceuticals  partnerships  Pear Therapeutics  Samantha Singer  scorecard 

Share |
PermalinkComments (0)
 

The C-Suite Takes Front Seat in Lively Panel Discussion at ASAP BioPharma Conference (Part 2)

Posted By Cynthia B. Hanson, Wednesday, October 31, 2018

This article continues ASAP Media’s coverage of the panel discussion “Speak My Language: How to Have a High Impact Conversation with the C-suite,” which took place September 25 at the 2018 ASAP BioPharma Conference in Boston. After introducing the panel members (see Part 1 of this blog post for background information on the panelists), Christine Carberry, CSAP, chief operating officer at Keryx Biopharmaceuticals, prompted the panel members to answer the following: “Let’s dig into where things tend to go awry. How do alliance professionals demonstrate their value to the organization? The second half of my question is, what are some of the pitfalls? Where do alliances get in trouble, and how can an alliance manager avoid those pitfalls?”

Samantha Singer, chief operating officer at the Broad Institute: Alliance managers demonstrate their value in their ability to escalate appropriately and bring issues to senior management. We don’t always understand where relationships are going to stumble when we go around the corner. Where I’ve seen situations fall down is when alliance managers think they need to solve problems first; coming to the senior executive when there’s something wrong without ideas for how to solve it. Also, treat the relationship as a relationship. Make sure the transactional doesn’t get in the way of the relationship for you and the entire team. The last point is: Keep the conversations honest. When people are collaborating together, someone usually wants to impress someone else or know more. But we all know, on projects, that is not how you get things done: Tackle problems, and be creative. And make sure that honest dialog really happens.

James C. Mullen, chairman of the board of directors at Editas Medicine, Inc.: Understand whoever is running around the C-suite, they only know so much. You need to decide what they need to know. The tendency is to over-communicate. I’ve received 40-page project reports that I never read. I only care about the problems. Focus on escalating the exceptions. That’s what I need to know about. The best way to get my attention is: Don’t try to tell me everything as if I am on the same level as you are. If you dump those 40 pages in my in-box, they never get read. Escalate it, and escalate it quickly. If there is an issue, highlight it and tell me what the implication of this issue is. I want to hear ideas on how to solve the problem. Finally, I want to know if you need help from me to work on a problem. Those are my four steps. The last thing is: You need to know the details of the contract. And if the realities of the partnership are drifting to someplace else, you need to address that contractually. If they drift too far, then you are in a no-mans land of who-was-supposed-to-do-what.

Alex Waldron, chief commercial officer at Pear Therapeutics: I am empathetic in one area: You are the people who need to implement the contract that has just been written. You’ve got to translate the three million pages into what it means for the company and get that going forward. The quickest way to do this is to create as much transparency as you possibly can with the partners out there. Alliances are like marriages: When you get married, you are star struck. It’s a wonderful idea that is almost never accurate. As both companies grow, the priorities will change over time: Your job is to remind everyone of that. Don’t use the “E” wordEscalate. Try to understand the alliance manager on the other side of the table, and create as much transparency as you can, even if it means saying “I understand why you are saying ‘no’ to me, but I must insist based on this contract….”  Managing the contract is absolutely critical. To ensure the success of the contract is essential to avoid pitfalls.

See recent and forthcoming editions of eSAM Plus and Strategic Alliance Magazine and revisit the ASAP Blog at www.strategic-alliances.org for continuing, comprehensive ASAP Media team coverage of the 2018 ASAP BioPharma Conference. 

Tags:  Alex Waldron  alliance managers  Broad Institute  Christine Carberry  collaborations  c-suite  Editas Medicine  James C. Mullen  Keryx Biopharmaceuticals  partnerships  Pear Therapeutics  Samantha Singer 

Share |
PermalinkComments (0)
 

How Contract White Space Becomes the Gray Area of a Deal (Part Three)

Posted By Genevieve Fraser, Tuesday, October 31, 2017
Updated: Saturday, October 28, 2017

Panelists were discussing the very different worlds of deal making vs. alliance management when ASAP Media left off in Part Two of our coverage of “Reading Between the Lines: Living in Contract White Space” explored the “gray area” between contract signing and actual implementation on day two of the 2017 ASAP BioPharma Conference September 13-15 in Cambridge, Mass. USA. The presenters were Christine Carberry, CSAP, chief operating officer at Keryx Biopharmaceuticals, Andy Eibling, CSAP, vice president of alliance management at Covance, the drug development business of LabCorp, and Brian O'Shaughnessy, a partner at Dinsmore & Shohl and president and chair of the board of LES, the Licensing Executives Society (USA and Canada), which focuses on licensing and commercial transactions involving intellectual property (IP) rights. Now the panel is discussing the handoff from deal to alliance management implementation of the partnership.

 

How does effective handoff happen?

  •  Knowledge transfer.
  •  Art meets science.
  •  The deal leader needs to have significant EI, emotional intelligence.
  •  Sometimes working through difficulty can be bonding.
  •  You don’t want everybody involved in every step, but you need an effective handoff. Bring in the alliance early on and as things wrap up, so the knowledge transfer occurs. Make a note of potential problem areas.

O'Shaughnessy: “There are problems with getting a person to read the contract. He tells me ‘he trusts me,’ but this is HIS business. He needs to bear down and read the terms. Too often a client signs off on details but has never read the contract. That’s when you need to document the visits and confirm the statements he made. Granted, this is difficult to do diplomatically. Frankly, if the boss isn’t going to read the contract, the boss isn’t going to read the contract.”

 

Carberry: “The executive sponsor, whoever that person is, needs to take ownership of it. What will this mean in a year’s portfolio? Is this a big deal or small? If this is a primary revenue driver, you will pay greater attention.”

 

“In terms of anticipating problems, a lot has to do with how you get started. Building a relationship in the beginning is helpful when things get contentious. Everyone should state what they consider to be successful and what concerns them, so everyone has an understanding. Whatever the ‘noise is in your head,’ get it out on the table. Think about having everyone come up with an evaluation of the project, then share it. In the end, the value may be the same, but they used totally different assumptions to get there. Also, set up an easy achievement to drive momentum.”

 

“Remember, people who created the deal are not the ones who implement it. It’s important to reset it with the people involved with the process. You need to get the teams together to discuss process and reinterpret the contract based on what each believes is the deal.”

 

O'Shaughnessy: “The third phase is when the respective implementers and deal makers get together to see if there are fundamental differences. Deal maker drafters will hear the implementers out. Feedback is critical. Don’t drag the last contract out as a basis to begin; instead, examine hot buttons. Sometimes you discover ‘the last time we did this we got burned,’ so seek to avoid it again.”

 

Takeaways:

  •  Success means: parties up-front agree on a set of values.
  • Nothing was agreed to ‘til everything was agreed.
  • Look at everything in development, then made sure it sticks—is held together.
  •  Put details into a ledger.
  •  Teams work through areas as they come up and acknowledge that processes happen within companies so they can move on with negotiated details working in parallel.
  •  Autonomy is a good thing. If lawyers create a massive structure, the results may be too bureaucratic. Flexibility is needed to reflect variables that crop up.

How can we apply previous experiences to future deal negotiations?

According to the audience, there’s a need for “common learning,” sharing it back. You need to discuss what could have been done differently and, in the end, retain some collective understanding, such as capturing what is of value and problem areas.

Tags:  ”First patient  alliance management  alliances  Andy Eibling  Brian O'Shaughnessy  change agent  Christine Carberry  compromise  contract  Covance  Dinsmore & Shohl  due diligence  emotional intelligence  first visit”  governance  Implementation  Keryx Biopharmaceuticals  Licensing Executives Society 

Share |
PermalinkComments (0)
 

How Contract White Space Becomes the Gray Area of a Deal (Part Two)

Posted By Genevieve Fraser, Monday, October 30, 2017
Updated: Saturday, October 28, 2017

This picks up where ASAP Media left off in Part One of our coverage of “Reading Between the Lines: Living in Contract White Space” explored the “gray area” between contract signing and actual implementation on day two of the 2017 ASAP BioPharma Conference September 13-15 in Cambridge, Mass. USA. The presenters were Christine Carberry, CSAP, chief operating officer at Keryx Biopharmaceuticals, Andy Eibling, CSAP, vice president of alliance management at Covance, the drug development business of LabCorp, and Brian O'Shaughnessy, a partner at Dinsmore & Shohl and president and chair of the board of LES, the Licensing Executives Society (USA and Canada), which focuses on licensing and commercial transactions involving intellectual property (IP) rights.

All presenters agreed that in general no one talks about when things go wrong. People focus on success. But change agents happen. People need to think more about likely situations that arise, about what can change. According to Carberry, biopharma negotiations offer special problems when teams spend 80 percent on work related issues and 20 percent on the exit. The exit can be what’s tricky.

“How should you run an alliance?” Eibling asked, shifting the focus of the discussion. “There’s a boilerplate we’d like to follow vs. figuring out what happens when everything blows up. Think of audit provisions; once you pull the trigger, everyone shifts into distrust mode.”

He reminded them that governments impose transparency and accounting, a carefully defined system of disclosures so the process is established. But it’s your responsibility to address issues early on, before they become an issue. 

“Trust is everything in an alliance. Trust is key,” Eibling stated. “Some think controls run in the face of trust, but it’s the opposite. The process helps establish trust building. If you have trust, you can more easily get to benchmarks. My motto is ‘no deal without a meal.’ Sit down over lunch with your counterpart to build trust.”

 

Shifting focus once again, Eibling questioned what’s missing from agreements. “External communications need to be on-going. ‘What’s material and what’s missing’ is what’s needed when everything blows up. The question is, what can be done during the deal making process to improve success?”

O'Shaughnessy: “Licensing is a full contact sport and needs the full team—lawyers, tax experts, scientists, business folks. Speaking from a LES prospective, they don’t appreciate the growing field of alliance management, so there’s not an effort to bring alliance into the deal process. They need to understand that an alliance team can analyze the details to see problem areas.”

“I had no idea what went on after the deal was signed.”

“Too often, LES views alliance management as a hindrance, as the folks who throw up roadblocks. Alliance management needs to stay in the background and define simple defining principles: This is how we work—from cultural differences to operating principles. When in the grey space, the alliance team will make it work, will look to principles to get through the grey area.”

Eibling: The alliance will shepherd the process, but the alliance needs to remain in the background and let others negotiate. The alliance folks tell them to finish the deal and then we’ll focus on governance, commitments etc. Meanwhile, they need to remain vigilant to see what was contentious, to remain alert to problem areas.

This interaction continues in Part Three of ASAP Media’s coverage of the 2017 ASAP BioPharma Conference session, Reading between the Lines: Living in Contract White Space.”

Tags:  ”First patient  alliance management  alliances  Andy Eibling  Brian O'Shaughnessy  change agent  Christine Carberry  compromise  contract  Covance  Dinsmore & Shohl  due diligence  first visit”  governance  Implementation  Keryx Biopharmaceuticals  Licensing Executives Society 

Share |
PermalinkComments (0)
 

How Contract White Space Becomes the Gray Area of a Deal (Part One)

Posted By Genevieve Fraser, Friday, October 27, 2017
Updated: Thursday, October 26, 2017

There’s a place—a twilight zone— that exists between the high “expectations of a deal well struck and the hard reality of implementation. “Reading Between the Lines: Living in Contract White Space” explored that “gray area” on day two of the 2017 ASAP BioPharma Conference September 13-15 in Cambridge, Mass. USA. The presenters were Christine Carberry, CSAP, chief operating officer at Keryx Biopharmaceuticals, Andy Eibling, CSAP, vice president of alliance management at Covance, the drug development business of LabCorp, and Brian O'Shaughnessy, a partner at Dinsmore & Shohl and president and chair of the board of LES, the Licensing Executives Society (USA and Canada), which focuses on licensing and commercial transactions involving intellectual property (IP) rights.

O'Shaughnessy cut right to the chase. “Typically, the problem is that people negotiating the deal are talking the same lingo. You need to look at common deal terms that cause collaborations to falter. Too often short shrift is given to definitions, to defining terms. Spelling out definitions doesn’t seem important because you and the others know what you mean. But contracts need to be written so non-experts understand. Spend time writing definitions in plain, simple terms. For example, technology patent and patent applications are two different things.”

 

“Three months from the signing of the contract, you will not be living in the world you had envisioned,” Christine Carberry added. “When you are caught up in the excitement of creating the deal, it’s natural to avoid looking at inherent risks. The likelihood is that X drug may not move to blockbuster status. Then, how do you navigate? How do you avoid having the reality of the situation, the reality you must deal with, keep from pulling people apart?”

 

“There areas often missing that are not even gray space—with nothing there to give guidance,” Andy Eibling began, throwing it out to the audience. “Name some areas in a contract that cause issues. What are your pet peeves?” Responses included:

  • Milestones based on study initiation (When does a study really start?)
  • “First patient, first visit” doesn’t mean what most thinks it means.
  • Every single compromise is going to come back—because the people who work on the contract were not part of the compromise.
  • Implementation time is not realistic. The contract states six months, but WE KNOW it takes nine months.
  • There are definitions within definitions. Check to see if the contract is still in alignment.
  • Due diligence—Best efforts—Clear process is needed for dispute resolution. The idea that you will just specify “arbitration” doesn’t cut it. You need to set up a process.

 Carberry rattled off a few scenarios: You couldn’t come to agreement, so you punted. Even worse, you know going into a contract, tension exists, so you opt not to deal with it. And, it’s contentious because you know it’s likely to happen!

 

“You can come up with complicated solutions that sound great—but how to execute it is the issue. It’s important that alliance people are brought in early to assist with ironing out conflicts,” she emphasized.

 

Let LES, the Licensing Executives Society draft the front end and the company draft how it will work, O'Shaughnessy suggested. “How do we prevent this and that from becoming a problem—such as scheduling meetings? And there’s always a risk of shifting provisions. Business people like to say, ‘that’s all legal stuff. Let the lawyers figure it out.’ But what they figure out might not align with the business model. If I absorb more risk, I need more attention.”

Tags:  ”First patient  alliance management  alliances  Andy Eibling  Brian O'Shaughnessy  Christine Carberry  compromise  contract  Covance  Dinsmore & Shohl  due diligence  first visit”  Implementation  Keryx Biopharmaceuticals  Licensing Executives Society 

Share |
PermalinkComments (0)
 
Page 1 of 2
1  |  2
For more information email us at info@strategic-alliances.org or call +1-781-562-1630