Bio Job Blog : Bio Jobs : Biotechnology Jobs : Biopharmaceutical Jobs : Bioscience, Biotech Jobs : Bio Job Blog : Biocareer : Bio-Business Training, Biotechnology Training : Jobs in Biology : Internships in Biology : Internships in Biotechnology

Abbott Laboratories today announced that it will split itself into two companies by spinning off its branded prescription drug business and creating a second company responsible for its medical implants, diagnostic tests and baby formula businesses.

The pharmaceutical company will exclusively sell its branded prescription drugs (including its blockbuster biologic Humira) and will be lead by Abbott’s Richard Gonzalez who currently head the company’s pharmaceutical business. Current Abbott CEO Miles White will lead the diversified medical products company. 

The reason for the split is to allow investors to value each of the companies on their distinct characteristic. Abbott’s decision to split the company is consistent with the prevailing notion that companies that sell both prescription drugs and consumer products don’t perform well. This led Bristol Myers Squibb to sell off its medical devices and consumer products divisions several years ago. Interestingly, prescription pharmaceuticals/consumer products/medical devices were de rigueur in the 1990s and early 2000s. Abbott’s decision leaves companies like Pfizer, Novartis and Johnson & Johnson as examples of the few remaining companies that still house pharmaceuticals, devices and consumer goods under one roof. Don’t be surprised if in the future these companies also decide to spin off or divest themselves of their consumer goods/medical devices divisions.

Finally, while the split may be good for investors, it may not be that great for Abbott employees. Usually, spin offs or divestitures

Until next time..

Good Luck and Good Job Hunting!!!!!!!!!!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

After a long drought, venture capital and private equity investments into private life sciences companies are beginning to flow again. VCs and fund managers have monies that must be invested into promising new ventures. The best way to find the right investors is to present at life sciences investment fairs like LifeScienceFest Americas. This year BioJobBlog and BioCrowd are cosponsoring the event.  

If you are interested in presenting your company to qualified investors, please read the information presented below and take advantage of discounted rates.

APPLY NOW TO PRESENT AT LIFESCIENCEFEST AMERICAS - JUNE 17, 2011
Investorfest Media is proud to announce call for nominations from promising startups for
LifeScienceFest Americas conference on June 17th.  At the 3rd annual venture conference, we will showcase up to 16 promising innovators seeking funding to active life science angels and investors.

APPLICATION DEADLINE : MAY 14, 2011
If you are a startup (seed, Series-A,B,C or restart) from the medical device, diagnostic or
healthcare technology space and you are seeking new investment to start or grow to the
next level, this is THE conference for you. You must be seeking funding from $250K to
under $20M. Learn more on the application process, segments of interest and deadlines.

CONNECT WITH LEADING INVESTORS AT LIFESCIENCEFEST
General Partners & angels from 20+ leading firms including Sand Hill Angels, Band of Angels, Keiretsu Forum, Claremont Creek Ventures, Bay City Capital,Physic Ventures, Psilos Ventures, Sofinnova Ventures,  Lumira Capital and many others will be at the event. Learn more..

WHO SHOULD ATTEND

Investors from Founders of promising innovative companies seeking capital to industry executives, investors and M&A professionals will be in attendance at this exclusive, limited seating event. Non-presenting entrepreneurs can also attend, and must register early to reserve their spot. Register Now to reserve your spot

BIOJOBBLOG BIOCROWD MEMBER DISCOUNT
A limited number of discounted tickets are available for Biocrowd members who will receive $50 off early bird registration and pay just $299. Apply code BIOCR50. Discounts are offered to qualified non-service provider professionals from the life science and med device industry and on a first-come, first-serve basis. Register Now at the discounted rate.

ABOUT INVESTORFEST MEDIA
Investorfest Media is the leading VC funding accelerator working in the life science and medical device space. Through our highly focused training and hands on support, qualified companies are put in front of specially chosen investors our annual LifeScienceFest conference. To date over 75% of presenting companies have gone on to receive funding, with over $280 million being raised since 2006. Learn more at investorfest.com

Until next time

Good Luck and Good VC Hunting!!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

Sam Waksal, the former Founder and CEO of ImClone Systems who was convicted in 2003 of insider stock trading and spent about five years in prison is trying to make a comeback as a biotechnology entrepreneur.

Shortly after his release from prison, Sam started a new, privately-held, biotechnology company called Kadmon (a moniker taken from the Kabbalah). He reportedly was able to raise over $50 million in venture capital (much of it allegedly coming from Carl Icahn a long time investor, business partner and friend.*

Kadmon which has been operating in stealth mode for the past two years today announced that it had acquired Three Rivers Pharmaceuticals, a privately held company in Warrendale, PA that develops and sells drugs to treat hepatitis C infection. Three Rivers was acquired to provide Kadmon with an ongoing source of revenue to help develop other drugs. It sells versions of the drugs alpha interferon and ribavirin, mainstays of hepatitis C treatment.

According to a company spokesperson, Kadmon acquired Three Rivers for over $100 million. Previously, Kadmon quietly acquired PhytoCeutica a company developing a cancer drug derived from traditional Chinese medicine and Flux Therapeutics a company co-found by Thomas E. Shenk, PhD a Princeton University virologist. Coincidentally, Dr. Shenk works in the Carl Icahn Laboratories at Princeton University.

Despite his conviction for insider trading, Sam is a seasoned and successful biotechnology entrepreneur who almost single handedly brought the blockbuster anti-cancer drug Erbitux to market. Sam who has a PhD degree in Immunology from Ohio State University and  has a "leg-up" on many biotechnology entrepreneurs because he understand both science and business.  As you may recall, ImClone System (the company that he founded in the 1980s) was sold two years ago to Eli Lilly for $6.5 billion—a deal brokered by ImClone’s Chairman, Carl Icahn. 

Interestingly, Sam is prohibited by a settlement he made with the Securities and Exchange Commission from serving as a director or executive of a publicly traded company. It will be interesting to see whether or not Kadmon decides to remain private. I suspect that won’t be the case if the IPO window opens up a bit more over the next few years. Once biotechnology companies go public, there is no longer a need for entrepreneurial founders like Sam to stick around!

Until next time...

Good Luck and Good Job Hunting (try Kadmon, they have lots of cash)

 * An NY Times article published on Nov 1, 2010 contends that Carl Icahn had initially considered investing $30 million in Kadmon but ultimately decided to pass.

• Email This
• Print
• Comments
• Trackbacks
• Share Link

As the competition for traditional life sciences jobs continues to intensify, many PhD-trained life scientists are looking for alternate career opportunities. One of the most popular and intriguing options is business—mostly because each of us more than likely knows somebody “who hit it big” by starting a biotechnology or life science-related company. While the entrepreneurial life isn’t for everyone, those intrepid individuals who are willing to give it a shot and possibly be successful ought to be aware of a few basic tools that will make life as an entrepreneur slightly less stressful. To that end, Emma Taylor over at Accredited Online Colleges sent me a blog post that lists 100 web tools that may be valuable to budding entrepreneurs and business-oriented life scientists.

Author Note: The list is a very valuable one; I am using several of the tools on the list that I had previously never heard about! So, here goes: 

Organization

Keep your studies, ideas and research organized with these helpful online tools.

1. Google Reader: Instead of visiting every blog you read, why not organize them all on this easy-to-use RSS reader?
2. Backpack: Keep your notes, contacts, information and just about everything else for class or business organized with this tool.
3. Stickies: This application makes it simple to make notes to yourself right on the web.
4. Bla-Bla List: Try out this to-do list application for no frills tracking of all the things you need to get done.
5. Mindomo: This web tool is great for laying out your thoughts for anything from business endeavors to class projects.
6. FreeMind: Use this free mind-mapping software to figure out where you want to go with an idea.
7. bubbl.us: This web application is perfect for brainstorming your next big project.
8. iOrganize: Mac users can try out this application, designed to keep notes and important information centrally located and easy to find.
9. Zoho Planner: Give this free planner a try. It’ll let you create and share to-dos, notes, contacts, images and more.
10. Clipmarks: Those who do a lot of web research or just like to browse can save interesting links for future reference using this tool

Scheduling

Make sure you never miss a meeting, test or networking opportunity by using these scheduling apps.

1. Google Calendar: Google’s calendar is easy-to-use and will let you organize all your important work, school and social events.
2. Cozi: This calendar tracks everything from sports meets to shopping lists.
3. Keep and Share: If you often work with others on projects or extracurricular activities, this calendar-sharing app could be right up your alley.
4. Spongecell: With this application you can create and customize your calendar and share it with others when you choose.
5. Doodle: This personalized scheduling app will help you arrive on time and prepared for the events in your life.
6. StudyRails: Plan out your study time and know when important due dates are coming up with this application.
7. 30 Boxes: Use this tool to keep track of all the things, both big and small, going on in your life.
8. SlimTimer: Track how long you’re working on a project, create to-dos and generally manage your time more wisely with this application.
9. WhichTime: This calendar makes it incredibly simple to keep track of where you’re supposed to be and when.
10. Jotlet: Quickly jot down appointments and important due dates using this calendar app. 

Networking and Marketing

Use these web tools to get your name out there, make connections and make the most of the millions of potential investors and employers using the web.

1. Facebook: You can do a whole lot more with Facebook than just keep track of your old friends. Create a networking profile and get your name known.
2. Twitter: Creating a Twitter account can be a great way to share updates about your business, school or your ideas.
3. LinkedIn: Take advantage of this networking tool to get in touch with the thousands of other businesspeople online in your field.
4. Elance: Using this tool you can make connections and even find some freelance work.
5. iMantri: If you’re in search of a mentor in your industry, don’t pass up this excellent site for pairing young professionals with mentors.
6. Company of Friends: One of the earliest business social networks, this site still offers a great number of professional contacts for those who are willing to search for them.
7. Ecademy: Meet people, blog and join professional groups on this business networking site.
8. Media Bistro: This site makes it easier to meet and talk with people in the content generation business, great for promoting your business or for making contacts.
9. Jigsaw: Link your budding business up with others through this large B2B network.
10. Meetup: Through this site you’ll be able to find business meetups, events and more in your area. 

Staying Connected

Talk to business partners, clients, friends and colleagues using these great online tools.

1. Gmail: Of the free email services out there, most would agree that Gmail is far and away the best choice. Better yet, you can link it up with a calendar, RSS reader and more.
2. Google Voice: This online service allows you to get your voice messages no matter where you are and to consolidate your phone numbers.
3. Campfire: Collaborate with others on school and work projects using this site.
4. FaxZERO: Fax machines may be outdated, but in your business you’ll likely encounter someone who wants something faxed to them. That’s where this service comes in handy.
5. K7: On the flipside, this service allows you to receive fax messages even if you don’t have a fax machine.
6. LogMeIn: If you can’t always take your computer with you where ever you go, it’s not a problem with this service that lets you log onto your desktop from anywhere.
7. Highrise: This web tool makes it simple to keep track of your professional contacts, perfect for helping you find work or drum up business.
8. Wufoo: One way to generate a better product is by asking customers what they think. This site helps you do that simply and easily.
9. Wordpress: What better way to get your business out there and stay connected with the world than by creating a blog? Get a free site here.
10. Meebo: Chat with people on all chat platforms using this one easy tool.

Research

Whether you’re doing research for a class or for your own ideas or ventures, these tools can help.

1. BNET: Get access to this site’s business library and news to stay on top of what is going on in the business world.
2. Seeking Alpha: Research stocks and investing ideas through this site.
3. U.S. Business Reporter: On this site you’ll find information about businesses, including their sales, statistics and more.
4. BizShark: Whether you’re looking for a job or just want to know more about a particular business, this search engine makes it simple.
5. Motley Fool: Find all the market advice and information you need through this site.
6. Masterseek: This company search engine lets you search by brand, product or business.
7. Zibb: Find just about any business and accompanying news, stats and information on this site.
8. Google Scholar: The web is full of information, but not all of it’s reliable. This search engine pares down results to just scholarly and professional sources.
9. Zotero: If you use Firefox as a browser, then try out this great plug-in that makes it simple to save, share and cite references you’ve culled from the web.
10. CiteULike: Make sure your bibliography isn’t a total mess by using this easy citation generator.

Mobile Apps

Don’t let a little thing like being away from the computer slow down your business aspirations. Try out these mobile web apps to take your projects on the road.

1. Business Reference Library: Make every time you don’t know something an opportunity to learn more with this amazing dictionary.
2. Oxford Dictionary of Finance and Banking: Look up any words or terms that seem strange to you with this handy tool.
3. mbPointer: Transform your phone into a fully featured presentation pointer using this application.
4. Analytics App: See just how well your business or personal website is doing with this analytics tool.
5. QuickOffice Mobile Office Suite: Whether you’re writing a business plan, tracking your finances or just preparing for class, this app lets you do it from anywhere.
6. Pocket MBA Test: If you’re studying to get your MBA, practice the information you’ll need to know for the test while on the go.
7. Glossary of Business Acronyms: Never wonder what an acronym means again with this helpful reference app.
8. Leadership Quotes: Get inspired with this application full of great business leadership quotes.
9. Bump: With this application you can share your business card simply by touching your phone to another.
10. Wall Street Words: Not sure what the heck the Wall Street Journal is talking about? Don’t stay ignorant, look the word up in this financial dictionary app.

Multitasking and Productivity

Learn how to get more done with less by using these apps.

1. OmniFocus: Try out this application to finally "get serious" about productivity with functions that let you take notes, turn them into to-dos and stay on task.
2. Netvibes: Keep all your favorite websites organized in one place so you can see what’s going on with each at the same time using this site.
3. Evernote: Create notes for yourself on the go and share, email and access them later with this tool.
4. Remember the Milk: Get to-do lists on your computer that you can check on the web or on your phone with this tool.
5. Ta-Da List: This simple tool lets you create to-do lists to ensure you get all your work done.
6. Joe’s Goals: Set goals for yourself for this year, five years from now or this week using this site.
7. Time Tracker: This tool lets you keep track of what sites you’re visiting so you can pare down your procrastination time.
8. Rescue Time: If you’re easily distracted, this tool is designed to help you focus and limit the temptation to browse other websites.
9. TreePad Lite: Organize your personal information, data, contacts, notes and more in one place using this application.
10. Todoist: Use this application to track all of the things you need to get done in a day or week.

Starting a Business

If you’re feeling ambitious and want to start your own business while in graduate school, these free tools can be a big help in getting the venture off the ground!

1. Highrise: Use the website to track business leads, clients and contacts so you’ll never lose out on potential business.
2. Freshbooks: Manage all of your business finances using this online tool.
3. Basecamp: This project management site will let you dole out tasks, see where a project stands and keep it all organized.
4. Wesabe: Whether you use it for your personal finances or to track a business’ worth, this free financial tool is a great online resource.
5. ConceptShare: Get feedback on your designs, concepts and projects easily through this collaborative tool.
6. PayPal: You’ve got to get paid somehow, and this site makes it pretty darn simple to get it done.
7. MyNewCompany: Use this site as a great source of information to make sure you’re not making any big blunders when it comes to running your new business.
8. Nolo: Find legal advice for your new business on this site.
9. BigCartel: If you need a shopping cart app for your site, this one is reasonably priced and easy to use.
10. Google AdWords: Google Ads are a great way to promote your business or to make a few extra bucks by placing them on your site.

Markets and Investment

Follow global economic trends, identify investors or and try your own hand at investing by using these tools.

1. Covestor: Follow what more experienced investors are doing on Covestor to see how things work and gain confidence.
2. Tip’d: Stay current with the latest business and financial news on this site.
3. Market Watch Community: This site will help you to learn more about the market in an online investment community.
4. Zopa: If you need a loan for your business, get one from everyday people and not the bank through this site.
5. Market Watch: Keep up with the ups and downs of the market on this site.
6. Quote.com: Find out where any stock stands by looking it up on this site.
7. Investor Guide: Get stock quotes, investing advice and the latest financial news on this site.
8. Go4Funding: Go through this site to find an angel investor for your business venture.
9. Venture Worthy: Find out if your business has what it takes to draw in investors from this great website.
10. Investing Minds: Share advice and ideas on investing on this online community.

Business Toolkits

These toolkits combine a wide variety of resources from business plan templates to financial calculators to make sure you know the ins and outs of being an entrepreneur.

1. Inc.com: From finding a job to managing a workplace, this site is full of tools and articles to help you do it right.
2. BizToolkit: Learn how to plan, market and grow a business with this toolkit.
3. Entrepreneur.com: Find vendors, learn how to franchise, discover PR tools and more through this site.
4. SCORE: Here you’ll get access to business-related quizzes, podcasts and links.
5. U.S. Small Business Administration: There are numerous free resources available to small business owners on this government site.
6. Bplans.com: Find sample business plans and learn how to build your own on this site.
7. Green Business Guide: Try out the resources found on this site to launch your own green business.
8. Small Business Toolkit: The U.S. Chamber of Commerce has created this set of tools to help you start, manage and expand your business.
9. Goliath Business Tools: With business plans, a business encyclopedia, and a company profile database, this site is chock-full of business goodness
10. Business Owner’s Toolkit Find everything you’ll need to get your business up and running on this site.

Until next time...

Good Luck and Good Job Hunting!!!!!!!!!!

• Email This
• Print
• Comments (1)
• Trackbacks
• Share Link

As many of you may recall, in 2001, Sam Waksal, founder and former CEO of the biotechnology company ImClone was convicted (along with his good friend Martha Stewart) for fraud and insider trading of ImClone stock. Waksal, who was released from prison in late 2008 and lived in a half way house for several months had kept a relatively low profile until earlier this month. Rumor has it that Sam along with Richard Mulligan, PhD a Harvard professor and former ImClone director and Dr. Larry Witte, a current executive vice president in the ImClone division of Eli Lilly are attempting raise about $50 million for the privately-held new venture called Kadmon. Other reports indicate that Waksal and other members of the Kadmon team are putting up $50 million as well. 

According to insider reports the company will ostensibly focus on cancer and infectious disease targets and—taking a page out of the Cubist, Celgene and Sepracor play books—re-purpose once promising drug candidates discarded by other companies. To that end, according an article in TheStreet, the company's drug research programs include a "statin inhibitor for influenza" from a "leading Ivy League university" along with a variety of monoclonal antibodies for use as targeted cancer treatments, similar to Erbitux. Kadmon is also eyeing several existing cancer-focused drug companies, one of which already has a marketed product, as acquisition targets, according to the prospectus. For those of you who may be wondering about whether or not Waksal can legally start another biotechnology company, an agreement with the Securities and Exchange Commission bars Waksal from serving as an officer in a publicly traded company, but as previously mentioned, Kadmon is a private venture.

Whether you like Waksal or not, his track record in the biotechnology industry speaks for itself. Unlike the vast majority of his rivals, Waksal shepherded a molecule from discovery through commercialization. That molecule, a monoclonal antibody called Erbitux, became a multibillion dollar a year treatment for certain forms of colorectal cancer. More importantly, Waksal was one of the first to recognize that humanized monoclonal antibodies directed against certain cellular receptors could be used to treat a variety of oncology indications—a concept that is driving a large portion of discovery and product development in the oncology space. For those of you who may not know, Eli Lilly purchased ImClone two years ago for $7.0 billion dollars after a very public and acrimonious fight over the sale price of ImClone erupted between Carl Icahn, ImClone’s Chairman, and Jim Cornelius, CEO of Bristol-Myers Squibb (BMS). ImClone and BMS co-marketed Eribitux prior to the sale.

Waksal has been in and around the biotechnology industry for over 30 years and many consider him to be one of the early industry pioneers. Unfortunately, despite his dubious past, Waksal represents a dying breed of visionaries whose entrepreneurial spirit and unorthodox approach to new drug development is largely responsible the biotechnology industry’s current largess. Like other ex-felons Waksal did his time and like all Americans he is entitled to a second chance.

Let’s hope that Sam learned a few things during his incarceration and is smarter and wiser for his second and possibly final act. I wish Waksal success in his new venture and I hope that he and his team still possess the insight, creativity and tenacity required to discover and develop innovative oncology and infectious diseases drugs.

Until next time....

Good Luck and Good Job Hunting!!!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

While Genzyme has begun to address its manufacturing woes and its CEO and top leadership have managed to keep their jobs, the specter of a possible forced sale of the company has emerged. This is because Carl Icahn, the billionaire, activist investor with a history of forcing the sale of financially-challenged and underperforming public biopharmaceutical companies like ImClone and MedImmune, owns 1 percent of the outstanding shares of Genzyme.

Speculation is rife that Icahn and Ralph Whitworth, a founder of Relational Investors which owns 4 percent of Genzyme’s stock, may force the company to put itself up for sale. While many experts contend that this may not be in the best financial interests of Icahn and Whitworth (or other institutional investors), the threat may allow both men to get themselves or their representatives on Genzyme’s board. This would allow them to control the direction of the company and better position the company (the fifth largest biotechnology company in the world) for future sale. Henri Termeer, Genzyme’s embattle CEO, said he has had no contact with Icahn.

Investors have not been pleased with Genzyme’s current management team’s decision to plow profits from its orphan disease business into R&D activities that have been unsuccessful. According to a recent Citigroup financial report, the company may have squandered over $1.0 billion (throughout its history) by investing into unprofitable, non-core research areas including kidney disease diagnostics and surgical products. Conventional wisdom suggests that if Icahn and Whitworth gain control of the Genzyme board that they could sell off Genzyme’s unprofitable kidney disease and surgical lines which would allow management to focus on orphan diseases drug development and allow the company to fix its recent highly publicized manufacturing problems.  Relational’s Whitworth hinted that this is one scenario that he may be interested in pursuing. To date, Icahn has been uncharacteristically mute on a possible takeover attempt.

Stayed tuned for more details.

Until next time....

Good Luck and Good Job Hunting!!!!!! (try Genzyme, they are probably looking for a few good biomanufacturing executives and managers)  

• Email This
• Print
• Comments
• Trackbacks
• Share Link