notes for facilitating the group discussion · 2020. 9. 25. · notes for facilitating the group...
TRANSCRIPT
Notesforfacilitatingthegroupdiscussion
ThankyouforyourinterestandparticipationintheStrategyToolkitsworkshop.Thegoalofthegroupdiscussionistogivetheparticipantsachancetoapplytheprinciplestheylearnedfromthelecture.Thetasktheywillperformisdescribingtheoperatingenvironmentofascientificenterprisefrombrowsingthecompany’swebsite,anddiscussingpossiblenextmovesfortheenterprise.ThegroupmemberscanchoosetoperformaSWOT,PESTorFourCornersanalysisforacompanyofinterestoranacademiclab.Asamplelessonplanfora2hrsession:6-6:15pm,Reviewkeyconcepts.talkabouteachassessmentfromvideo1&talkaboutthestrategyprocessfromvideo26:15-6:25pm,Introducetheactivity.Breakintosmallgroupsanddescribetheoperatingenvironmentofascientificenterprise.ThegroupmemberscanchoosetoperformaSWOT,PESTorFourCornersanalysisforacompanyofinterestoranacademiclab.Theymaycontinuethisactivitywithacompanyofinterestfromlastweek.I'llbeexplicitaboutoneacademicgroup.Assignrolesinthegroup,likenotetakersandpresenter.6:25-7:15p,Facilitatedactivity.Makesuretheyanswer:-WhydidyouchoosetheSWOT/PEST/FourCornerstoassessyourcompany?-Whatistheexternallandscapeforthatspecificcompany-Basedontheanalysis,whatisapossiblenextmoveforthecompany?7:15-7:45p,Grouppresentations.3minuteseach,with2minutesofQ&A.7:50-8p,Reviewandquestions,evaluations.Directtheconversationfromthestart.Eachgroupwillneedtoselectacompanyandananalysis.Remindthemthattheywillpresentonthereasontheyselectedthatassessmentandthenextstepstheywouldtakebasedontheassessment.Thiswillhelpfocusthegroupdiscussion.Questionstoanswerintoday’sdiscussion:
• Whatistheexternallandscapeforthatspecificcompany?(externalassessment)• WhydidyouchoosetheSWOT/PEST/FourCornerstoassessyourcompany?(tools)• Basedontheanalysis,whatisapossiblenextmoveforthecompany?
Notesforfacilitatingthegroupdiscussion
Asareminder,theStrategyToolkitsmodulecomprisestwomajortopics.Today’sdiscussionwillcoverpart1:Part1.EnvironmentalAssessment-frameworkstoevaluateanoperatingenvironmentincludingcompetitors,stakeholders,supplies,andeconomic,regulatoryortechnologytrends;SWOT,FourCornersandPESTanalyses.Bytheendofpart1,participantswillbeableto:
• Describecommonlyusedtoolsforenvironmentalassessments• Explainthebenefitsofdoingtheanalyses• Identifywhichtoolappliesbestinagivensetting• Useoneormoretoolstodescribetheoperatingenvironmentofascientificenterprise
Part2.DevelopingStrategy-toolstohelpset,generate,andprioritizeanenterprise'sgoals.Bytheendofpart2,participantswillbeableto:
• Describethekeyelementsofanenterprise'sstrategy• Identifycommontoolsusedtofacilitatestrategydevelopment• DraftSMARTobjectives• Explainthevalueofmonitoringprogresstowardsgoals
Asareminder,wehavedefinedtheconceptsbelow–
SWOT(strengths,weaknesses,opportunities,threats)analysis-astudyundertakenbyanorganizationtoidentifyitsinternalstrengthsandweaknesses,aswellasitsexternalopportunitiesandthreats;atoolwhenusedinabusinesscontextcanhelptocarveasustainablenicheinamarketFourcornersanalysis(drivers,strategy,assumptions,capabilities)-Amodeldesignedtohelpstrategistsassessacompetitor'sintentandobjectives,andlikelyfutureactions;usedindevelopingastrategyandperformingcompetitiveintelligence;canbeausefulanalysisintheabsenceofdataPESTanalysis(political,economic,socio-culturalandtechnological)-Astrategictoolforunderstandingmarketgrowthordecline,businessposition,potentialanddirectionforoperations;helpsdeterminehowmacro-environmentalfactorscanaffecttheperformanceandactivitiesofabusinessinthelong-termSMART(Specific,Measurable,Actionable,Realistic,andTime-based)goals-Goalsthathelpyouachieveyourstrategy
Whatifconversationstalls?Below,youwillfindalistofquestionstoprompttheparticipants.Afteraskingaquestion,steelyourselftowaitthroughthesilence,responseswillcome.Ifyounoticethesame2-3peoplespeaking,andwantbroaderparticipationyoumightsay:“Let’shearfromsomeonewehaven’theardfromyet”or“Howaboutsomeonefromthissideofthegroup?”etc.Youcanalsomovearoundthegroup—youwillboostparticipationfromwhateverdirectionyouface.
Notesforfacilitatingthegroupdiscussion
Questionstopromptconversation:§ Pushstudentstothinkaboutstrategy-howcouldtheygoaboutengaginginthe
opportunitiestheyhaveandsolvingtheirthreats?o Whatarecompetitorsdoing?o Whatisthemarket?(Espimportantforsmallermarket)-somecompanieswilllook
togetacquirediftheywanttogetsomewhere.o Internally:Whatproductsdowehave?Dotheymakesensegiventheenvironment?o Whataretheholesorgapswehave/whatcanwedotofillthisout?o Whoareourcustomers?
§ Studentsmayask,ifnot,askaboutprioritizing(thenextstepbeyondbrainstorming)-withsomanyideasandstrategieshowwouldacompanylikeJunoprioritize?
o Actionability-isitrealistic?Whatisthemarketcompetition?o Feasibilityofclinicaltrial?Istheoutcomeeasytodetect?o Sizeofthemarket?Howmuchdoyoutakeattheendoftheday?o Ifhaveextratime,askthemtoplotthisona2-waymatrix
§ WhenwethinkofSWOT,doesitalwayshavetodowithanalyzingacompetitor?SWOTcan
beusedforinternalassessment.Strengthandweaknessarefortheirowncompany,andtounderstandO&Tneedtounderstandboththesurroundingenvironmentandyourown.
§ Istheresomethingnovelornewaboutthecompanyordotheywanttotakeanewdirection?MayconsiderPESToverSWOT
Whattypesofquestionsmighttheparticipantsaskmeduringthediscussion?Whenwepreviouslyadministeredthiscourse,werecordedthemostcommonquestions.Belowyouwillfindthislistofquestionsfollowedbypossibleresponsesinthegraytext.Facilitatortip–Thefacilitator’sroleistopromptthegroupdiscussion.Whenastudentorpostdocasksaquestion,considergivingabroadanswertogetthemstarted,butthenpointtheminthedirectionofthewebsitewheretheycanfinditthemselves.Youmayalsoaskthequestionbacktothegrouptoseeifanyoneelsehasaresponse.QuestionsparticipantsmayaskForSWOTanalysis
• Howdoyoudetermine(S)trengths?Possibleresponse:whatdotheydobest?[ifnoresponse]gobacktovalueproposition,why/what.
• (W)eaknesses?Ask:whatwasthebiggestproblem?• (O)pportunities?Ask:whatelsecouldtheyimprovetowininthemarket?
o [Ifstudentsgetstuckthinkingaboutscience/technology]Thinkoutsidetheboxbeyondthepipeline-towhattheycanimprove?
o Whatotheropportunitiesdotheyhave?Thinkaboutthestakeholderso Sowhoarethecustomers?Asidefromthepatients?
• (T)hreats?Ask:whoaretheircompetitorsoutthere?o Whattypesofcompaniesarethey?o Howaretheycompetitive?
[SWOTexamplefromJUNOconversation]:• Ifcompaniesaretargetingthesamemolecule,howwouldyourcompanydifferentiateitself?
Notesforfacilitatingthegroupdiscussion
Thisisanothertrickforpharma,youeitherfileforadultsorkids.Forexample,whatdidNovartisdorecently?TheyjustgotFDAapproval,butwhatdidtheyfilefor?Whatindication?Importanttofindoutwhattheyfiledforandwhatindication?
• Whatistheleadindicationforthecompanymostadvancedinclinicaltrials?Checkthepipelinesectionofthewebsite.
• Isitfirstorsecondgeneration?Theywon’tgetasbigofashareofthemarket.Theywillneedtoproveefficacyandovercomethebiggestproblem–safety.
• Whatelsearetheytargetinginthepipeline?Lookinthepipelineforothertargetsliketypesofcancerortumors.ExforJuno:Theproblemofhematologiccanceristhatit’skindofsmalltargetpopulation.Sobygoingtosolidtumortheywouldbeexpandingtheirmarket.
• Whatelsecouldtheyimprovetowininthemarkettogetalotofpatientstotaketheirdrug?Thisgoesbeyondthepipeline.Thinkoutsidetheboxtowhattheycanimprove?Typesofpatients(howill),drugdelivery,ormanufacturingissues.Forex:whatdoyouthinkaboutthehealthstatusofrelapse,refractorypatients?Ittakes4weekstomanufactureCAR-T?It’sgoingtotakesolongforthemtogettheirCAR-Tback,theycouldjustdieduringthattime.Ifthedeliveryprocessisnotstreamlined,itmaydelaywhenthepatientscanaccessthedrug.
• Whatcanacompanydoiftheyhaveabadreputation,likeKitewasknownasabadCAR-Tcompany?Improvesafetyandefficacy;targetspecificity.
ForFourCornersanalysis
• WhataretheFourCorners?Drivers,strategy,assumptions,capabilities• Drivers?Ask:Whataretheirgoals?Whataretheirvalues?Whatdotheyfindimportant?
Whoaretheircustomers?• Strategy?Ask:Wherehavetheybeenfocusing?Whereistheirgrowth?Whatarethey
presentingtoinvestors?Whataretheirrelationships?Investments?CanlookatquarterlyearningreportsorfindinterviewswiththeCEO/ExecutiveQ&As.
• Assumptions?Ask:Whatdoyouthinktheythinkaretheirstrengthsandweaknesses?Howwouldtheydescribetheirmarkets?Howdocompaniesseethemselves(ex:sametechnology,butidentityasasequencingcompanylikeIlluminavs.diagnosticlikeGrail),anddotheyseethemselvesasbeingthesamemarketornot?Dotheyhavethesamepotentialcustomers?
• Capabilities?Ask:Whataretheirassets?Whatconfidencedotheyhave?Whatkindofabilitytoadapttochangesdotheyhave?Financial(ex:dotheyhavecapitaltoacquireacompany?)Technology–havinginternalresourcestodotheirwork(ex:sendtheirsequencingfortheirdiagnostics).Known/establishedbrand?
• WhywouldyouuseFourCorners?Possibleresponse:youcangetinsidecompetitorsheads;toconsiderwhatitwouldbeliketopartnerwiththem.Howaretheygoingtoapproachthistechnology?Howaretheygoingtomakedecisions?Willtheirculturefitus,willtheirphilosophyofbusinessfitus?Also,youdothisassessmentbecauseyoucan’toftengetpublicinfoontheirtechnologyorstrengthsandweaknesses.Thenwhenyouarereadyforthenextstage(ex:commerciallaunchofdiagnosticlikeGrail),willtheybeagoodpartner?
• ForFourCorners,doyoustartwithyourcompany’spointofvieworthecompetitors?Youfirstwanttounderstandyourcompanythengetintotheheadofthecompetitor.Butforthelimitedtime,definebasicsforyourcompany(ex:Grailisyounganddevelopinganewtechnology),sounderstandIllumina(thecompetitor)
• Whattypesofinfocanyoulookat?Salesforexample.Andprecedenceandhowtheyhavehandledpartnersinthepast.Dotheylikemakingdealsorgivepartnersrevenuetokeepdoingtheirthing.Forexample:dotheypartnerwithpeopleandthenassoonasthetechnologyissuccessfuldotheyjustbuyitoutrightandisthatokay?
Notesforfacilitatingthegroupdiscussion
• DocompaniesdoFourCornersanalysisonthemselves?No,becauseacompanywouldknowit’sownculture.AcompanywoulddoaSWOTforinternalassessment.
[ExamplefromIllumina’sFourCornersanalysis]:• In2017,2.4Binsalesandtheirsharesfell23%.Howdoyoufindoutwhytheirstocksfell?
GoonIlluminawebsiteandlookattheirnewsorGoogle,becauseananalystlikelywroteaboutwhathappenedforadropthatbig.
• Whatmightitsayiftheirpresentationsonlytalkaboutsales?Thecompanymaynotbepushinginnovationwiththeirinvestors.Nottalkingaboutgrowthpotential.Focusingontheshortview.Theirstrategymaybecashinginonwhattheyhave
• Whatmightcauseadropinstocks?Lowerrevenuethanexpected.Productdidn’tlaunch.Nonewinnovations
• Whyspinoff?Regulatoryrequirements(ex:Diagnosticsrequirealot,whilesequencingdoesn’thavealotofregulatoryconstraints).Differentmarketingskill.Financial–costsassociatedwithdevelopmentand/orrunningaclinicaltrial.Expertiseforthosedrivers.
PESTAnalysis[academicexample]
• Political?Regulationsandethicalconcerns?Whomightadvocateforyou?Whatdoestheuniversitycareabout?WhatistheNIHNSFfocusingon?Righttimeforclinicaltranslationalstudies?
• Economic?Whatdivision?Whatistheuniversity/gov’tfunding?Newendowments?DoesthePIjustdoresearch(alsoseepatients)?Newfundingmechanisms?
• Social?Dootherlabsattheuniversitydothis?Willapostdocspinouttheresearch?HowdocolleaguesregardthePI?Whomightbereviewingthework?
• Technology?Howexecutingexperiments(ex:balanceanimalmodelsandhumanstudies)?Howacquireequipment(ex:runacore)?Collaborate?Newandbettertechnologiestouse?
• WhywouldyouusePEST?Ifinnovatingandstaringanewdirection,couldbeusefultolookatthecurrentenvironment.Whatisthelandscape?
• Whattypeofinfodoyoulookfor?Labwebsites.Researchoverview.Grantportfolio.Partnerships.Runsacore.
General
• Whataboutthestrategyofpartnering?Someoftheothercompaniesaredoingthat,theycouldgowithotherpartnerships,butJunohassomeofthisgoing.Ex:Kiteiskindofsmall,butNovartishasalotofpartnerships,collaborations,andfunds.AndJunoissmallcomparatively,sothey’llneedtoengageinpartnershipstobeabletocompetewiththelargercompanies.
• Whatmakesamarket“huge”?Wheretheopportunity/indicationhasabiggestmarket:#productsalreadythere(competitors),numberofpatients,efficacy/diseaseseverity
• Whatifacompanywantstotrysomethingnewthattheydon’thaveexpertisein?Iftheydon’thavetheinhouseresourcesorexpertise,partneringmightbeagoodoptiontofigureoutdurability.
• Whoarethecustomersbesidesthepatients?Doctors.Helpthedoctorsunderstandtheprocessaswell.Oneappealcouldbeprovidinglowercostforacontract(e.g.Costco).Alsohospitalsandinsurers
• Whatdoesregulatorylooklike?Mostpharmashavearegulatoryteam.TheywouldneedtotalktotheFDA.
• Withsomanystrategies,howdoesacompanyprioritize?Acompanyusuallyproposesaworkshopwiththekeystakeholdersfromeachmajorpartofthecompanyandformally
Notesforfacilitatingthegroupdiscussion
worksoutwhat’simportanttothecompanyandscoreit.Basedonthatyouhaveascore/weighingsystemdependingontheirpriorities,maylookatlong-termvsshort-term.Andthat’showtheydecidewhattoexecutefirst.
o Actionability-isitrealistic?Whatisthemarketcompetition?o Feasibilityofclinicaltrial?Istheoutcomeeasytodetect?o Sizeofthemarket?Howmuchdoyoutakeattheendoftheday?
• Howdocompaniesmoveonfrombigfailures?Iftheyaresmall,thentheymaypositionitselftobeanacquisitiontargetjustsothenamecanchange.ITmaybeagoodideatogetacquired.Forbiggercompanies,dependswhothatpotentialpartnermaybe;aretheypoisedandreadytotakeupthisprogram?Whatdirectiondotheywanttotakethecompany?
• Isthereaquickwayforcompaniestolookatwhatthecompetitorsareinthespace?Canlookatcompetitorsintheclinicaltrials;publicandprivatedatabasesareavailable.
HelpfulquestionsfromtheBusinessDevelopmentmodule
§ Howdowedefineagap?Possibleresponse–Whatisthecompany’sstrategy?Howdoesitwanttomakemoneyorgrowinthefuture?Havethemdeterminethecompany’svaluepropositionanddefinewhatthecompanyisfocusingontohelpthemdeterminewhatgapsneedtobefilledintermsoftherapeuticarea,technologyorstakeholders..Platformcompaniescouldlooktoexpandtoothertherapeuticareas.Disease-focusedcompaniescouldlooktoexpandtheirproductsortechnologies.ExamplevaluepropositionforFivePrimeTherapeutics-Platformtechnologybringinggenomicsinanovelwaytomousemodels,tohelpvalidatethepotentialviabilityofpotentialclinicaltargets.
§ Whatisanexampleofafinancialgap?Anexamplewouldbetogrowrevenue.Acompany’stargetmaynotyetbeonthemarket,andtheyarefocusingononlyonetherapeuticarea,theyneedrevenueiftheywanttogrow.
§ Whatisanexampleofanexpertisegap?Iftheyarefocusingononeareaandtheywanttoexpandtootherareas,theyprobablydon’thavepeopleinthisnewarea.Probablyneedtohireinthisnewareaorcollaboratewithacademiclabs.
§ Whatisanexampleofamarketgap? Acompanycouldhaveadruginneuroandnowwanttogetintooncology.Oncologyislucrativerightnow.
§ Howdoyoudeterminegapsforatechnology-basedcompany?Lookatcurrentpipelinecandidates.Gapscouldspanmultiplepotentialtherapeutictargetsanddifferentareas.Scenario-Let’sassumetheyareamature,platformcompany.Maybetheychoseearlyontofocusinoneclinicalarea,andhavesomedrugsinthepipelinealready.Checknewsarticlestoseeifthey’vedonealicensingdealorpartneredforthoseproducts.Inthiscase,theycouldhaveactivecollaborationsinoneclinicalareabuttonedup,andcouldlooktofillamarketgap,oradifferenttherapeuticareaaltogether.Alternatively,iftherearenolicenses,therecouldbeatechnologyorproductgap.Ex:FivePrimeTherapeutics–theyareusingmiceastheirplatformtoidentifynoveltargetsthatcanbefurtherdeveloped.
§ Howdoyouknowwhatdealsacompanyhasalreadydone?Companiespublishtheirpipeline.Tofindthisinformation,lookiftheyhavetoputthepartnerlogocompaniestheyhaveworkedwith.Pressreleasesareanotherplacetofindwhattypesofdealsthey’redoing.Aretheysellingtheasset,oraretheyco-developingandwanttodosomeofthework
Notesforfacilitatingthegroupdiscussion
themselves?Acompanymaynotwanttosellthewholecompany,butit’sdifficulttodevelopeverythingonyourown.
§ Canyougetinformationfromclinicaltrials?Clinicaltrialsmaygiveyouinformationaboutunmetmedicalneed,andhintatsubsetsofpatientsthatacompanyhasn’tidentifiedyet.Couldlookatclinicaltrialfailuresincertainmarkets.
§ WherecanIfindinformationaboutcompetitors?Informationaboutcompetitorsmaynotbefoundonthewebsite,butthe10K(financialdocument)willtalkaboutcompetitors.Additionalsourcesforidentifyingcompetitorsareclinicaltrials.govandgooglesearches.
§ Isitbetterforacompanytodevelopproductsformultiplediseasesareasorexplorejustone?There’snorightanswer.Thinkaboutthevariations.Ifit’saplatformcompany,maywanttheabilitytospinoffmultipledrugtargetsandmaynotbelimitedtotherapeuticareaorclinicalindication.Onepossibility-Startwithonetargetandseehowthatdevelops;buildacollaborationwithacademia.Dependsonhowsupportiveyourinvestorsareandhowmaturethecompanyisregardingsizeorsuccesswithcurrentproducts.
Career-relatedquestions
§ HowmanyBDprofessionalsareinacompany?Dependsonthecompany.Usuallywhenthebusinessreachesover15-20peopleandtheseniorfolksaredoingtoomuch,they’llhireonsomeoneforbusinessdevelopment.Andifyou’re50-100people,they’llhavetwoBDprofessionals.MoreandmorecompaniesarehiringwithaPhDorMDpre-requisite.
§ WhydosomecompanieswantbusinessvssciencepeopleinBDroles?Dependswhatthey’relookingfor.Iftheywantsomeonewhoistechsavvyandcancommunicatewithbiggercompanies.Othercompaniesmaywantsomeonewithbusinessbackground.Usuallyit’stheformer,someonewhohasadeepunderstandingofthetechnologyorbiology.
Groupreportingfrom2018,ColumbiaAcademicgroup–theirpromptwasananalysisofapotentialfacultycandidate.TheyselectedthePESTanalysisratherthanaSWOTanalysistohaveamoregloballook.Iftheywereassessingthecandidate’sresearchprogram,theywouldhavedoneaSWOT,butwantedtoseefitforthedepartment,university,andUS.Theychoosetogiveratingsona10ptscalewhere10wasthehighest.Overall,theydecidednottohirethecandidate.
Notesforfacilitatingthegroupdiscussion
Juno–PESTanalysisJunowasjustacquiredbyCelgeneandtheywantedtoassesshowthismightaffectgettingtomarketin2020.Theynotedthehistoryofdeathsandbeing2ndtomarket,sotheymightfocusonefficacyofthedrug.Theyalsonotedcostofthedrug.
InterSECT–SWOTSelectedbecauseInterSECTisastablemarket.Thecompanyisfirsttomarket,buthasonlycapturedalimited,orsmallportion,ofthemarket.Thegroupnoticedincreasecostforsalesandmarketingteam,whichoffsetrevenue;andwhyInterSECTdoesnothavepositiveprofit.Theirnextstepswouldbenewmarketsandtargetingotherstakeholderslikedoctorsandinsurerstocapturemoreofthemarket.
Notesforfacilitatingthegroupdiscussion
Academicexample:assessingasafuturepostdocadvisorTheyapproachedtheassessmentasafuturepostdoc.TheylookedattheS/WasassessingthelabandO/Tastheiropportunitiesandthreatsshouldtheydecidetojointhelab.Note:theysettheirownmetricsforanemploymentdecision.NottypicaloftheexternalcategorizationforO/T.Theydecidednottojointhelab.
***Groupreportingfrom2017,UCSF
Academicgroup(noposterpicture)Labtheyassessed-MarkLooneylabPEST-therewasn’tacompetitortolookat;SWOTwouldbehardbecausewedidn’tknowalotofinformationaboutthelab.PlatebiogenesisofthelungPESTtolookatwhetherornotthisnewprojectshouldstayinthelaborgoout?P-NIHbudget,humanstudies(ethicsetc..),corefacilities(theyhaveaccesstothis,butitcouldtakeupalotoftimeinthelab)E-economicallygoodtospintheworkintoinstitutionalfundingvs.gettingotherNIHgrants.S-postdocthatdevelopedthisisleaving(isthereenoughspacefor2labspursuingthis?),positionindepartment(wouldthedepartmentsupportthis?),publicattention(couldhelptoleverageadditionalresourcesforfundingandgarnersocialsupport).T-(technology)-corefacility(couldhelptopushwork),disadvantageisthatthisdevelopmentreliesinimaging,notauniquetechnology.Maybeagoodthingtodoindustrycollaborations
Notesforfacilitatingthegroupdiscussion
JUNO (no picture of poster) L - 2 presenters Used SWOT to see where they are and the environment Competitors - looked at Novartis and Kite who are doing CAR-T as well. Novartis targets ALL and DLBCL. Kite looking at DLBCL Juno is looking at DLBCL so thought: improved target specificity and safety and efficacy. Outside of improving the particular cancer, moving out of blood cancers into solid tumors there would be a bigger market these competitors are looking at blood cancers, so even though they are looking at a smaller market, they do a better job addressing the side effects. For Juno, we saw that they are not as ‘fast’ at making the product, because Juno is relying on making CAR-T from patients as opposed to looking at a cell-line option that works for everyone. assessing delivery process (can we be faster than 4-weeks) or maybe collaborate with off-the shelf so patients have a treatment starting while they’re waiting for specialized CAR-T. Another strategy is that they could make themselves an acquisition target if they can’t recover from the negative press. A lot of opportunities. We felt they would need to rank what they could do via: Actionability/market size/feasibility. START-UP - Care anytime S - push in medicine towards prevention as opposed to treatments. W - the startup is funded by owner, no big companies and need to start a new market. Not enough funds and penetrate to a new market. Also still in the process of developing new protocols to prevent chronic diseases, still have to work on diagnoses and treatments. More research needed to convince physicians that adiponectin is a good marker. T - other physicians in the country could be competition in the future.
Notesforfacilitatingthegroupdiscussion
INTER-SECT ENT
L - 2 presenters L: We felt SWOT would be best, it’s not a non-dynamic market, but we felt that there weren’t many factors that would make it totally novel. Because it’s doing something that was done before just in another part of the body. L: internal SWOT: Strength: long-term treatment option, to our knowledge is the only of its kind, but there are a couple comparable but not totally directly competitive (not FDA approved) vs this product IS FDA approved and they’re working with patients already. Weakness: they don’t really have the ‘word out’ not really have
industry/pharma adopting. Invasive approach which would be hard to adapt. External OT O - build relationships with KOL/ Opinion Thought leaders to help get the word out contact them by going to conference. Build relationships with new customers, increasing the market share for a new indication In looking into the product we looked at other products that are similar. O - If we looked at other products - they could be intimidated so they could consider acquiring these other companies. T - Similar products out there, not as invasive, so could pull people away. Drug-based treatments that don’t require surgery. Also if someone comes out with a better surgical advancement. Another drug that is better than your drug that’s another device. Next steps - KOL, 4 corners analysis on your competitors. Long term: acquiring another company or be acquired.
Notesforfacilitatingthegroupdiscussion
GRAIL/Illumina - spin off
Four corners Grail is a cell-free DNA technology, detect cancer antigens Used: 4 corners because they wanted to see if they would be good at collaborating. Looked at perspective from grail analyzing illumina. Grail targets patients, but Illumina is looking at researchers and companies, but they are already invested in Grail (own 20%). But potential value there because Strategy - illumina is trying to control the whole market in sequencing. And things might change since illumina just got a CEO. Illumina might not want to expand because they decided to spin out Grail.
Illumina has good access to capital and good technology in market. Maintain partnership or collaborate? Collaborate yes, voted.