Three Takeaways from the ASAP BioPharma Conference
ASAP’s 2019 BioPharma conference was one for the record books. This year’s conference was the most well attended to date. It’s no surprise to us that this record was achieved as the biopharma partnering landscape continues to evolve in new and interesting ways, including:
- working across industry boundaries
- designing and executing new types of alliances
- managing challenges and pursuing opportunities in creative ways
- expanding within organizations to build broad partnering capability
As we at Vantage reflect on all the great speakers, discussions, and panels, and the exciting, innovative approaches that were highlighted, we wanted to share three key takeaways from this great event:1. Biopharma companies are increasingly partnering with Academic Medical Centers to leverage the breakthrough innovations and discoveries emerging from these institutions. Academic-industry partnerships face a variety of challenges given the different dynamics, organizational interests, and types of stakeholders involved. AMC and biopharma partners are working together to determine how best to manage their vastly different approaches to funding, success metrics, and culture.
To learn more about how Vantage Partners thinks about academic and industry collaboration, see: https://info.vantagepartners.com/insights/effective-strategy-and-partnering-approaches-for-university-generated-ip
2. Partnerships between the biopharma industry and technology companies continue to accelerate as organizations explore the most efficient, effective, and patient-centric ways to bring therapies to market. We feel privileged to have supported Bristol-Myers Squibb and Concerto HealthAI’s digital partnership to design an operating model to bridge the partners’ different working styles and to leverage their respective strengths. This enabled the two organizations to rapidly launch their alliance.
For more information about this presentation (which was co-led by Stu Kliman from Vantage Partners), see: https://asapbiopharma.org/19/docs/presentations/301_Building_Non-Traditional_Alliance_Life_Sciences.pdf and https://www.strategic-alliances.org/blogpost/1143942/331878/Undivided-Attention-The-BMS-Concerto-Story
3. In light of the increasingly diverse types of partnerships managed by biopharma organizations, Alliance Management functions are evaluating whether and how to adapt to support them. Key questions these groups are considering include: What types of partnerships are within scope for Alliance Management, and what types are to be managed by other functions? How will existing Alliance Management activities and processes need to change? What skills and capabilities will be required to ensure continued future success? What additional levels of internal collaboration will be required to manage the complexity of cross-industry partnerships?
We look forward to seeing your organizations continue to partner in these new and exciting ways, and to discussing this and other topics at next year’s ASAP BioPharma Conference.