Innovate Biopharmaceuticals has had more meetings through BIO’s One-on-One Partnering™ than they can count. In fact, it is the principal way the company meets candidates for both in-licensing and out-licensing arrangements. Participating for at least six years, the company points out that in the last three years, alone, it has had over 300 meetings scheduled through the system.
This is the second in a series recognizing one of BIO’s Triple Crown Partners
Founded in 2012 by Jay Madan and Kendyle Woodard, Innovate Biopharmaceuticals has five assets in its portfolio focused on autoimmune and inflammatory diseases. Its lead drug candidate—Larazotide INN-202—is the first ever treatment for celiac disease to enter a Phase 3 clinical trial. An estimated 1% of the population suffers from this autoimmune disease. The only treatment currently available is a gluten-free diet which does not always manage the symptoms. The drug Innovate is testing has a mechanism of action that corrects a dysfunctional intestinal barrier which is also present in several diseases such as Crohn’s disease, ulcerative colitis, irritable bowel syndrome and others.
Innovate Biopharmaceuticals is a BIO “Triple Crown Partner”, having completed BIO’s triple crown of partnering meetings: BIO Investor Forum, BIO 1x1@JPM and BIO CEO & Investor Conference. From the outset, the company looked for partners to help bring its drug pipeline to market. A public company, the initial idea was to find other candidates for in licensing to benefit the drug development process. As INN 202 moved closer to commercialization the company expanded its search to partners who can help with commercialization. Almost all these searches were conducted using BIO One-on-One Partnering.
“I think we must be a superuser of the BIO partnering system” quipped Woodard. “During one event, we had over 60 meetings! We get there and get to work; we don’t take lunch breaks—we have as many meetings as we can.”
Veteran users of the system, Woodard and Madan said they appreciate the continued updates and improvements that make it very user-friendly. For example, users can track all previous meetings scheduled through the system. “When a request comes in, I can check to see when we’ve met and refreshed my memory,” noted Woodard. “It is so helpful to see how many interactions with either an individual or a company we’ve had so we can properly plan for the meeting.”
Woodard and Madan had this advice for both novice and experienced users of BIO One-on-One Partnering:
- Know your objective and start early—as soon as partnering opens.
- Take time to flesh out your company profile. Know your objective and state it in the profile comment section. For example, Innovate might say something like, “Out licensing IN 202 for the treatment of celiac disease which is in Phase 3 clinical trials”. The more specific your objective, the better your meetings will be.
- Keep meetings that are matched to the goals.
- Make a personal connection. Email early and establish a relationship before the meeting.
- Use the time to meet people you’ve never met. Since the system meetings last only ½ hour, you can schedule more in-depth meetings with people you’ve met before outside the partnering system.