Head of Business Development
- Employer
- Formation Bio
- Location
- New York City, NY
- Salary
- ~$275,000 base w/ cash bonuses for successful licensing deals plus equity in TrialSpark and NewCos.
- Start date
- Sep 29, 2020
View more
- Discipline
- Sales & Service, Business Development
- Required Education
- Masters Degree/MBA
- Position Type
- Full time
Job Details
The biggest bottleneck in bringing new treatments to patients is the clinical trial. On average, getting a drug through the trial process takes nearly a decade and frequently costs $1B+. And the problem is only getting worse.
TrialSpark is a technology company that brings new medical treatments to patients faster. We’re reimagining the clinical trial by introducing a new model, using technology to streamline every aspect of the trial. To fulfill our mission, we partner with pharma, biotech, and digital health companies to run studies faster and more efficiently.
About the position
The Head of Business Development is tasked with accelerating our mission by creating strategic partnerships that can leverage TrialSpark’s unique CRO and development capabilities. This may include the creation of drug development partnerships, JVs and completion of out-licensing deals with funding partners, including Aditum Bio.
You will identify, originate and pursue business opportunities, and collaborate with the Operations, Medical and Finance teams in drafting proposals, bid decisions and project management of larger strategic partnerships.
Key responsibilities
Duties include but are not limited to:
- Creating and originating new business development opportunities that leverage our CRO, clinical trials, and drug development capabilities.
- Sourcing assets: this includes identifying and originating drug assets from pharma companies that are off-strategy or do not have the peak sales potential to develop internally. Sourcing will also occur from platform companies in biotech, or academia.
- Leading the due diligence process: this includes managing the modelling of CRO revenue opportunity and timing, as key input to financial models, as well as coordinating overall due diligence across functions.
- Negotiating and closing transactions: this will include developing terms and conditions of the drug purchase/out-licensing, as well as the economic and governance terms of the NewCo and the drug development plan.
- Securing financing for assets.
- Other responsibilities include driving to successful and timely closure of deals and a smooth transition of the new asset to the NewCo management team so the development plan can be executed.
- Manage Partner Collaborations: manage the relationship with our external partners, interfacing with them in a way that projects the values of TrialSpark.
Required education and experience
- At least 7 years experience in BD&L in pharmaceutical industry. Ideal candidate will have large pharma experience, as well as smaller biotech experience. Background in Biology or Medicine is an advantage. MBA preferred, but not required.
- Strong track record in sourcing, negotiating and closing transactions. Experience in exiting assets is important.
- Excellent negotiating skills: including deeply understanding the important points to the other side of the negotiation.
- Proven ability to work collaboratively internally and externally. Strong interpersonal skills is a key requirement.
- Results oriented and self-assured.
You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
Company
Formation Bio is a tech-driven pharma company differentiated by radically more efficient drug development. Formation Bio has built a technology platform that optimizes all aspects of drug development, enabling more efficient trial design, faster trial completion, and higher quality trial data capture.
Formation Bio acquires clinical-stage drugs from pharma and biotech and develops them faster and more efficiently, unlocking greater value per program and accelerating access to new treatments for patients.
Join our culture of innovation where your work directly contributes to transforming patient care in areas such as rheumatology, dermatology, CNS, and cardiometabolic diseases. Our dynamic environment blends advanced technology with strategic drug development, speeding up the delivery of new treatments. Here, every role plays a part in our mission to bring new treatments to patients faster and more efficiently.
- Website
- https://www.formation.bio/
- Phone
- +1 510-545-3803
- Location
-
16 East 34th Street floor 10
New York
NY
10016
United States
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