Insights from Venari Partners/ZS CCO Networking Forum in Boston

It’s always a pleasure to visit Boston. The city has rich history, great food (always got to get in a lobster roll!)  – and, of course, a thriving biotech scene.

During my most recent trip to Boston last month, I had the privilege of co-hosting a commercial C-suite networking reception in collaboration withZS Associates. We held the event, designed for biotech chief commercial officers, at ZS’ offices. 20 CCOs from emerging biopharma companies attended for an evening of networking over drinks and canapés – as well as a fireside chat and a presentation from ZS.

Ben Hohn, Principal at ZS, began the evening with insights into first launches in the industry in recent years.  2023 saw the highest number of approvals in a single year, with a total of 107 novel drugs cleared by the FDA and the EMA combined. We’ve seen similar trends this year with oncology and immunomodulator drugs leading in approvals.  Although blockbuster drugs remain disproportionately in Big Pharma territory, emerging biopharma is set to continue growing its representation in broader launches, expected to represent 52% of launches in the next 5 years.

Ben noted, however, that it is still uncommon for emerging biopharma to grow to a mid-sized or large entity after first launch. Of the 101 companies in the US (and 18 in the EU) that launched novel products for the first time between 2011 and 2023, 45 have been acquired, while five went bankrupt or divested assets. ZS provided an analysis of 51 novel US first launches between 2018 and 2022. While just over half met or exceeded analyst expectations, that 47% underperformed highlights the uncertain landscape for launches at present.

After this initial presentation came the fireside chat I conducted withAnders Lundstrom, Interim CEO and board member atShield Therapeutics. Anders has a wealth of previous experience, including roles atAZandBiogen. He was also previously CCO atBanner Life Sciencesand CEO ofOrexo, so his tenure at Shield is by no means his first experience of the C-suite. We discussed Anders’ experience in taking the next step beyond a CCO role, into a CEO or board role in biotech.

What was Anders’s main advice for professionals CCOs looking to move on up the ladder? ‘Network, network, network.’ He stressed the importance of building relationships and utilising your connections. This includes recruiters – Anders’s words, not mine! – as they can give you the best advice and updates on what’s happening in the market. When I asked him about conducting a successful launch, he highlighted the importance of commercial analytics, with the function gaining increasing importance within biopharma organisations.

Finally, ZS Principal Cody Powers gave a summary of biotech investment trends in 2024 and beyond. Bankruptcies in the field have outpaced historical norms in recent years; indeed, there were 28 last year alone. Other challenges the industry has faced have revolved around clinical trial volumes, likely due to the current funding landscape. Biotech capital raised through IPOs this year has already surpassed the total for 2023 – and let’s hope this continues into next year.

It’s always great to bring together a great audience of commercial experts and to catch up with ZS Associates. I’d like to extend my thanks to them for a brilliant evening – not to mention to everyone who joined us. I hope to see you all again soon.

In the meantime, if you’re looking for advice on commercial positions in the biopharma space – or are a life sciences company looking to make hires in this area –don’t hesitate to get in touch.

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