The Biotech Startups Podcast

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.

Part 3 of 3. 
My guest for this week’s episode is Grant Aarons, Co-Founder and CEO of FabricNano, a London-based biotech whose mission is to transform industrial chemical processes using cell-free biomanufacturing. FabricNano empowers users with the world's most advanced, flexible, and easily scalable biocatalyst platform, providing highly stable and performant biocatalysts to enable profitable production of sustainable and biobased chemicals. Their approach starts with novel immobilization engineering for enzyme stabilization, followed by budget-conscious protein engineering and process engineering to reach their clients' targets for commercialization of their new biochemical production process. 
Before FabricNano, Grant was a Research Analyst at the Federal Reserve Bank of New York, and while pursuing his PhD at the London Business School, became an Entrepreneur In Residence at Entrepreneur First, an international business accelerator that has created over 300 companies worth over $10 billion. Grant's diverse experience gives him a unique perspective on the startup ecosystem that everyone can benefit from.
Join us this week and hear about:

• Grant’s experience at Entrepreneur First and how FabricNano started
• Why sales is such an underrated part of the scientific community
• How show and tell helped Grant learn at a young age how to pitch to VCs
• What a future powered by enzymes might look like and how to disrupt the petrochemical market
• Tips on how entrepreneurs can bring their ideas to life even in difficult economic times

Please enjoy my conversation with Grant Aarons.

Find Our Guest, Grant Aaron, at these links: https://www.linkedin.com/in/grantaarons/https://fabricnano.com/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com

Timestamps:00:28 Intro01:36 What Entrepreneur First was like and the mentality one should have while in an accelerator02:58 Meeting his co-founder and the spark of curiosity that ended up never dying05:01 Launching FabricNano and learning how to properly run an email marketing campaign07:43 The underrated value of sales in the biotech/scientific community and how show and tell helped Grant learn how to talk to VCs09:39 Why FabricNano wants a future powered by enzymes and biology misconceptions14:40 The current state of the biology market and why petrochemistry is so important to it17:49 How do we move away from petrochemicals and what is FabricNano's role in that21:00 What is FabricNano's go-to-market strategy and why now is the right time to disrupt the petrochemical market24:29 Tips to other founders on how to navigate difficult economic markets and bring your innovative ideas to life25:53 What is on the horizon for FabricNano27:21 Teaching people about the dark horse of the industrial biology industry, synthetic biology28:39 Grant shouts out his mentors, FabricNano, family, and why no founder gets to where they are on their own30:17 Advice to a younger Grant31:39 Outro

Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/ 
Enriched Notes:

Topics Mentioned:
Entrepreneur First https://www.joinef.com/ Streak CRM https://www.streak.com/ Cell-Free https://en.wikipedia.org/wiki/Cell-free_system Synthetic Biology https://en.wikipedia.org/wiki/Synthetic_biology Petrochemicals https://en.wikipedia.org/wiki/Petrochemical 
Biotech Investors https://www.excedr.com/blog/top-vc-firms-for-biotechMore Biotech Investors https://www.excedr.com/blog/biotech-seed-and-angel-investors Biotech Funding https://www.excedr.com/resources/biotech-startup-funding-optionsLab Equipment for Synthetic Biology https://www.excedr.com/blog/lab-equipment-list-for-synthetic-biology-research The Power Law https://www.amazon.com/Power-Law-Venture-Capital-Making/dp/052555999X
People Mentioned:Ferdinando Randisi https://www.linkedin.com/in/ferdinando-randisi/?locale=en_US Thomas Synnott https://www.linkedin.com/in/tom-synnott-babb774/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.
Part 2 of 3. 
My guest for this week’s episode is Grant Aarons, Co-Founder and CEO of FabricNano, a London-based biotech whose mission is to transform industrial chemical processes using cell-free biomanufacturing. FabricNano empowers users with the world's most advanced, flexible, and easily scalable biocatalyst platform, providing highly stable and performant biocatalysts to enable profitable production of sustainable and biobased chemicals. Their approach starts with novel immobilization engineering for enzyme stabilization, followed by budget-conscious protein engineering and process engineering to reach their clients' targets for commercialization of their new biochemical production process. 
Before FabricNano, Grant was a Research Analyst at the Federal Reserve Bank of New York, and while pursuing his PhD at the London Business School, became an Entrepreneur In Residence at Entrepreneur First, an international business accelerator that has created over 300 companies worth over $10 billion. Grant's diverse experience gives him a unique perspective on the startup ecosystem that everyone can benefit from.
Join us this week and hear about Grant’s:

• Thoughts on the defensibility of software vs. hardware companies and the importance of capital expenditure and continuous business development
• Decision to attend London Business School and pursue his PhD
• Econometrics and grad school research endeavors in predictive modeling
• Learnings from the accelerator experience at Entrepreneur First, highlighting the importance of resilience and adaptability in entrepreneurship.

Please enjoy my conversation with Grant Aarons.

Find Our Guest, Grant Aaron, at these links: https://www.linkedin.com/in/grantaarons/https://fabricnano.com/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com

Timestamps:00:28 Intro01:38 Software companies will no longer be defensible; Intel’s hardware strategy, Nvidia’s success04:46 CapEx investments, market-capture, and FabricNano’s focus on stability and yield07:38 How hardware companies are servicing the software industry and accumulating value09:08 Grant’s econometrics research, DSGE mentors, and support network 12:26 The importance of learning, decision to attend London Business School14:58 UK mentors, their impacts on Grant’s education, and the power of opportunity19:26 Grad school research: asset pricing, econometrics models, micro and macroeconomics23:10 Grant’s decision to leaving the PhD program and the encouragement he received25:25 Resonating with an investment style, The Power Law, and hardware investors31:01 Getting involved in Entrepreneur First and the randomness of creating startups36:23 The various approaches accelerators use to create startups, Entrepreneur First’s thesis38:48 Management and philosophy styles, how co-founders help each other and the organization40:33 Outro
Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/ 

Enriched Notes:

Topics Mentioned:
Federal Reserve https://www.federalreserve.gov/London Business School https://www.london.edu/Intel https://www.intel.com/content/www/us/en/homepage.htmlNvidia https://www.nvidia.com/en-us/Simple Pharma (UK) https://www.simplepharma.com/Entrepreneur First https://www.joinef.com/DSGE Model https://www.newyorkfed.org/research/staff_reports/sr554.htmlEconometrics https://www.investopedia.com/terms/e/econometrics.aspAsset pricing https://en.wikipedia.org/wiki/Asset_pricingMicro and Macroeconomics https://www.investopedia.com/ask/answers/difference-between-microeconomics-and-macroeconomics/Biotech Investors https://www.excedr.com/blog/top-vc-firms-for-biotechBiotech Funding https://www.excedr.com/resources/biotech-startup-funding-optionsThe Power Law https://www.amazon.com/Power-Law-Venture-Capital-Making/dp/052555999X
People Mentioned:Marc Giannoni https://www.linkedin.com/in/marcpgiannoni/Marco Del Negro https://www.linkedin.com/in/marco-del-negro-91122550/Domenico Giannone https://www.linkedin.com/in/domenico-giannone-55755b45/Jerry Yang https://en.wikipedia.org/wiki/Jerry_YangSebastian Mallaby https://www.linkedin.com/in/sebastian-mallaby-13a24936/Matt Cliford https://www.linkedin.com/in/mattcliffordef/?originalSubdomain=ukAlice Bentinck https://www.linkedin.com/in/alicebentinck/Masayoshi Son https://en.wikipedia.org/wiki/Masayoshi_SonThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.

Part 1 of 3. 
My guest for this week’s episode is Grant Aarons, Co-Founder and CEO of FabricNano, a London-based biotech whose mission is to transform industrial chemical processes using cell-free biomanufacturing. FabricNano empowers users with the world's most advanced, flexible, and easily scalable biocatalyst platform. With clients ranging from startups to multinationals like Sumitomo Chemical Company, FabricNano provides highly stable and performant biocatalysts to enable profitable production of sustainable and biobased chemicals. FabricNano's approach starts with novel immobilization engineering for enzyme stabilization, followed by budget-conscious protein engineering and process engineering to reach their clients' targets for commercialization of their new biochemical production process. Before FabricNano, Grant was a Research Analyst at the Federal Reserve Bank of New York, and while pursuing his PhD at the London Business School, became an Entrepreneur In Residence at Entrepreneur First, an international business accelerator that has created over 300 companies worth over $10 billion. Grant's diverse experience gives him a unique perspective on the startup ecosystem that everyone can benefit from.
Join us this week and hear about:

• Benefitting from diverse experiences while studying engineering at Cooper Union
• Embracing experiences at the Federal Reserve Bank of New York as a research analyst
• The impact of the economy on deep tech companies 
• Tips for embracing capital dependency, intensity, and efficiency
• And much more!

Please enjoy my conversation with Grant Aarons.

Find Our Guest, Grant Aaron, at these links: https://www.linkedin.com/in/grantaarons/https://fabricnano.com/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com

Timestamps:00:28 Intro2:29 Episode starts, early days, growing up in upstate New York and New York City’s influence on Grant’s career path5:42 Decision to attend The Cooper Union and study engineering7:38 Undergrad experience with physical and chemical labs, courses about new inventions11:45 The value of diverse work experiences in coding, mechanical electrical plumbing (MEP), and economics, experience as an Android developer17:28 The challenges of a slow feedback loop in engineering and its impact on his career choice19:10 Experiences and opportunities at The New York Federal Reserve Bank, the opportunity to attend research presentations and being employed as a research analyst23:39 How times of uncertainty and stress at The Fed led to innovation, new tools, new models25:53 The purpose of the Federal Reserve Bank and its goals to keep inflation in check and keep unemployment low30:02 The current state of the economy, coming off zero, and its impact on deep tech and innovative technology businesses34:29 Benefits of deep tech embracing capital dependency with capital intensity and efficiency37:02 Outro
Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/

Enriched Notes:

Topics Mentioned:The Cooper Union https://cooper.edu/welcomeFederal Reserve Bank of New York ​​https://www.newyorkfed.org/Mechanical Electrical Plumbinghttps://apaengineering.com/engineering/mechanical-electrical-plumbingWhat is debugging?https://careerfoundry.com/en/blog/web-development/what-is-debugging/Tappan zee Bridge Replacement Projecthttps://www.fhwa.dot.gov/ipd/project_profiles/ny_governor_cuomo_bridge.aspxDSGE Model-Based Forecasthttps://www.newyorkfed.org/research/staff_reports/sr554.html#:~:text=Dynamic%20stochastic%20general%20equilibrium%20 New York Fed Nowcasthttps://www.newyorkfed.org/research/policy/nowcast#/overview
Equipment Leasing vs. Traditional Financing https://www.excedr.com/resources/equipment-leasing-vs-traditional-financing Loan Covenants 101 for Startups https://www.excedr.com/resources/loan-covenants-and-their-effectsLease Financing vs. Debt Financing https://www.excedr.com/blog/lease-financing-vs-debt-financing What Is an Operating Lease? https://www.excedr.com/blog/operating-lease 
People Mentioned:Ben Bernanke https://www.federalreservehistory.org/people/ben-s-bernankeChristopher Sims https://jrc.princeton.edu/people/christopher-simsDomenico Glannone https://www.linkedin.com/in/domenico-giannone-55755b45/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.
Part 3 of 3. 

My guest for this week’s episode is Bryan Dechairo, President, CEO, and Director at Sherlock Biosciences, an innovative biotech company that is enabling the democratization and decentralization of diagnostic testing to personalize healthcare and make an impact on global health.
Before Sherlock, and most recently, Bryan was Executive VP at Myriad Genetics and CSO and CMO at Assurex Health. His extensive career spans over two decades and also includes prominent positions at Medco Health, Pfizer, Oxagen, Sequana Therapeutics, and Roche. Bryan's vast experience working at both startups and Fortune 500 companies gives him unique insights that any entrepreneur can benefit from. 
Join us this week and hear about:

• Scaling Assurex Health out of a garage to developing a best-in-class pharmacogenomic test, GeneSight
• Working for multiple companies that had gone through the M&A process
• Developing Sherlock Biosciences’s home diagnostics test during Covid-19
• Tips and advice to other CEOs on how to raise capital in a challenging economic environment
• And much more!

Please enjoy my conversation with Bryan Dechairo.
Find Our Guest, Bryan Dechairo, at these links: https://www.linkedin.com/in/bryandechairo/https://sherlock.bio/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com
Timestamps:00:28 Intro and episode overview01:23 Getting acquired by Express Scripts and dealing with new ownership03:34 Working on a small team that got their start out of a garage and helping them scale06:23 Pitfalls to avoid while scaling your business and other tips for growing companies07:47 Why scientists do not always make the best biotech CEO's and the value of having a diverse knowledge base11:56 Myriad Genetics's acquisition of Assurex and keeping his team together through the M&A process15:60 Leaving Myriad Genetics and figuring out why Sherlock Biosciences was the right move19:26 What the home diagnostics environment was like during Covid22:20 Deciding on what would be the first over-the-counter test Sherlock would focus on25:15 Adapting diagnostic testing to the modern convenience world we live in today27:37 Why did this brilliant idea take so long to get to where it is today?31:12 Comparing the system used to distribute at-home Covid tests with Sherlock's and how they improved on it32:56 Tips for other business owners on how to develop and maintain your company's talent35:59 Advice for raising capital while in lean economic environments from a biotech CEO's point of view40:17 Sherlock Biosciences acquisition of Sense Biodetection and why the move made sense43:45 What on the horizon for Sherlock Biosciences and what Sherlock and Netflix have in common47:18 Shout outs, thank you's, and advice to younger Bryan48:38 Outro
Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/ 
Enriched Notes:
Topics Mentioned:Assurex/GeneSight https://genesight.com/ Myriad Genetics https://myriad.com/ Sherlock Biosciences https://sherlock.bio/ 
Biotech Startup Support https://www.excedr.com/resources-category/biotech-startup-supportBiotech & Big Pharma Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-researchMarketing and Sales Strategies for Startups https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs Staffing Your Startup https://www.excedr.com/blog/staffing-your-startup How to Get Funding for Lab Research https://www.excedr.com/blog/how-to-get-funding-for-lab-research What is a C-Corp & Why Do Investors Prefer it? https://www.excedr.com/resources/c-corp-investors-preferHow to Write a Business Plan for Your Biotech Startup https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs 
People Mentioned:Julie Garlikov https://www.linkedin.com/in/juliegarlikov/David Walt https://www.linkedin.com/in/david-walt-29935b8/ Dale Muzzey https://www.linkedin.com/in/dale-muzzey-70512889 Paul Meister https://magnolia-medical.com/leadership/paul-m-meister/ Andrew Marshak https://www.linkedin.com/in/andrew-marshak/ John Taylor https://www.linkedin.com/in/john-taylor-16953115/Jim Burns https://www.linkedin.com/in/james-burns-78360814/ Mark Capone https://www.linkedin.com/in/markcapone/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.

Part 2 of 3. 

My guest for this week’s episode is Bryan Dechairo, President, CEO, and Director at Sherlock Biosciences, an innovative biotech company that is enabling the democratization and decentralization of diagnostic testing to personalize healthcare and make an impact on global health.
Before Sherlock, and most recently, Bryan was Executive VP at Myriad Genetics and CSO and CMO at Assurex Health. His extensive career spans over two decades and also includes prominent positions at Medco Health, Pfizer, Oxagen, Sequana Therapeutics, and Roche. Bryan's vast experience working at both startups and Fortune 500 companies gives him unique insights that any entrepreneur can benefit from. 
Join us this week and hear about:

• Bryan’s move from a small startup to Pfizer
• The crucial nature of big data in modern genetics
• Bryan’s experience at Medco Health (an American Pharmacy Benefits Management company)
• The importance of accessible, affordable, and accurate diagnostics resources

Please enjoy my conversation with Bryan Dechairo.

Find Our Guest, Bryan Dechairo, at these links: https://www.linkedin.com/in/bryandechairo/https://sherlock.bio/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com
Timestamps00:28 Intro and episode overview01:53 Bryan’s transition from academia and a small startup to Pfizer02:37 The role and impact of big data in Bryan's career05:20 Building a team and fostering the right environment for employees06:56 Supporting team growth, helping individual contributors succeed09:37 Reflections on career development, key learning points from working at startups12:08 Adjusting to Pfizer, finding the right fit, and dealing with anxiety15:07 Discussing strategic decision-making and incorporating new technologies16:23 Managing different teams and the matrix-based organizational structure19:49 Start with the Problem Statement: identify a need, then create a solution24:40 Transitioning from Pfizer to Medco Health and learning about personalized medicine27:17 Evolving role of pharmacy benefit managers in healthcare and diagnostics reimbursement30:38 Closing thoughts on the healthcare industry and advancements in Diagnostics33:10 Outro

Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/

Enriched Notes:

Topics Mentioned:Oxagen https://www.crunchbase.com/organization/oxagenBiotech Startup Support https://www.excedr.com/resources-category/biotech-startup-supportBig Data in Healthcare https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8733917/Biotech & Big Pharma Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-researchTherapeutics https://www.nature.com/subjects/therapeuticsPersonalized Medicine https://www.genome.gov/genetics-glossary/Personalized-MedicinePfizer https://www.pfizer.com/Molecular Medicine https://www.sciencedirect.com/topics/biochemistry-genetics-and-molecular-biology/molecular-medicineGenetics, Proteomics, & Metabolomics https://www.isaaa.org/resources/publications/pocketk/15/default.aspMatrix Organization https://asana.com/resources/matrix-organizationPharmacy Benefit Managers https://en.wikipedia.org/wiki/Pharmacy_benefit_management
People Mentioned:Jeff Kindler https://www.linkedin.com/in/jeffrey-b-kindler-a304b136/Rob Epstein https://www.linkedin.com/in/epstein-robert-2937979/Julie Garlikov https://www.linkedin.com/in/juliegarlikov/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.

Part 1 of 3.

My guest for this week’s episode is Bryan Dechairo, President, CEO, and Director at Sherlock Biosciences, an innovative biotech company that is enabling the democratization and decentralization of diagnostic testing to personalize healthcare and make an impact on global health. The Sherlock team and founders include engineering biology pioneers with world-leading expertise in CRISPR and synthetic biology, diagnostic industry veterans, and disease area authorities. Together, they provide an unparalleled set of capabilities that are transforming molecular diagnostics in clinical and non-clinical settings. Before Sherlock, and most recently, Bryan was Executive VP at Myriad Genetics and CSO and CMO at Assurex Health. His extensive career spans over two decades and also includes prominent positions at Medco Health, Pfizer, Oxagen, Sequana Therapeutics, and Roche. Bryan's vast experience working at both startups and Fortune 500 companies gives him unique insights that any entrepreneur can benefit from.

Join us as we sit down with Bryan as he discusses his early years growing up on a 10-acre hobby farm in Valley Center, Southern California, his decision to study integrative biology at UC Berkeley, and his early exposure to clinical diagnostics at Roche. Bryan talks about his transition to a startup, Sequana Therapeutics, and his love for that familial environment all while pursuing his PhD. Lastly, Bryan recounts embracing a new cultural experience in the UK while studying at the University College London. Please enjoy my conversation with Bryan Dechairo.

Find Our Guest, Bryan Dechairo, at these links: https://www.linkedin.com/in/bryandechairo/https://sherlock.bio/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com
Timestamps:
00:28 Intro
02:20 Episode starts, early days and upbringing, growing up in the 70s on a Southern California hobby farm
04:33 Being raised around science and research, finding business inspiration while being on a farm
08:02 Bryan’s decision to attend Berkeley and study Integrated Biology
11:00 Undergrad lab experience with genetics, mushroom hunting, volunteering for free experiences
15:23 Experiences and opportunities at Roche post-graduation, the opportunity to collaborate with competitors
19:19 Determining what was next after Roche, attended a life-changing career fair that led to working at Sequana Therapeutics
22:21 The enjoyment and family dynamic of working with a startup
26:23 A surprising and exciting move to the UK to work with Oxagen Ltd and receive a PhD at the University College of London
32:08 Outro

Social & WebsiteLinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/

Enriched Notes:

Topics Mentioned:UC Berkeley https://en.wikipedia.org/wiki/University_of_California,_Berkeley What Is A PCR Machine? https://www.excedr.com/blog/what-is-a-pcr-machinePCR, qPCR, & DNA Amplification https://www.excedr.com/resources-category/pcr?47e8dc57_page=2What Is Polymerase Chain Reaction (PCR)? https://www.excedr.com/resources/what-is-polymerase-chain-reaction-pcrPCR Master Mix: Definition, Types, & More https://www.excedr.com/resources/pcr-master-mix-definition-types-and-moreHow PCR Systems Work & How We Save You Time & Money https://www.excedr.com/biotech-life-sciences/pcr-systemsGenetic Vectors: Overview, Types, & Applications https://www.excedr.com/resources/genetic-vectorsSingle-Cell Epigenomics: Changes to Genomes without DNA Alterations https://www.excedr.com/blog/single-cell-epigenomics
People Mentioned:Richard Brown https://www.legacy.com/us/obituaries/sandiegouniontribune/name/richard-brown-obituary?id=24374150Jamie Oliver https://en.wikipedia.org/wiki/Jamie_Oliver John Taylor https://www.linkedin.com/in/john-taylor-16953115/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.

Part 3 of 3.

My guest for this week’s episode is Terry Lo, President and CEO of Vizgen. Vizgen is developing and commercializing the next generation of genomics tools to expand on the capabilities of spatially resolved transcriptomics.

Terry is a pioneer in the emerging Spatial Biology market, with a proven track record of driving exceptional growth across global life science organizations, including Bristol-Myers Squibb, Roche, Hologic, and PerkinElmer. In addition to his two decades of experience scaling and building multinational biopharma and diagnostic groups, he is also an expert in developing business strategies for novel, innovative products.

Join us as we conclude our conversation with Terry, where we talk about him working in the revolutionary fields of spatial biology and spatial genomics, the challenges of growing a five person company, and some of the exciting things that Vizgen has on the horizon. We also discuss the importance of genetic mapping, Terry gives some advice for weathering turbulent economic times, and we talk about the important influence his parents had on his development. Please enjoy my conversation with Terry Lo.

Find Our Guest, Terry Lo, at these links:
https://www.linkedin.com/in/terry-lo-034a034/
https://vizgen.com/

Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com

Timestamps:
00:28 Intro
01:25 Revolutionizing spatial biology and scaling up Akoya Bioscience's operations
04:30 Recognizing a new opportunity emerging in spatial genomics and transitioning from Akoya to Vizgen
06:09 How Vizgen came to be and what early development was like on a 5 person team
07:53 What the spatial genomics field was like at that time and what is it like now
09:32 Vizgen's go-to-market strategy and how it is different from others
12:25 How Vizgen communicates the technical aspects behind what makes their product so accurate
14:33 Meaning behind the statement "Every disease has a map, every cure has a path"
18:14 Tips for running a business during turbulent economic times
20:22 Dealing with fundraising while being a private company that isn't profitable yet, managing rapid growth of the company
22:48 Exciting developments for Vizgen in 2024
25:57 Terry shouts out his parents and talks about their influence on him
27:08 Terry's advice to his 21 year old self
28:26 Outro

Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/

Enriched Notes:

Topics Mentioned:
Spatial Genomics https://vizgen.com/what-is-spatial-genomics/
Spatial Biology https://www.akoyabio.com/why-spatial-biology/
Vizgen https://vizgen.com/
Akoya Bioscience https://www.akoyabio.com/
Cell Atlasing https://www.humancellatlas.org/

How to Fund an R&D Startup https://www.excedr.com/resources/rd-startup-funding-first-steps
Unleashing Innovation https://www.excedr.com/resources/rd-tax-credits-incentives
Biotech Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-research
Pre-Money vs. Post-Money: What's the Difference? https://www.excedr.com/resources/pre-money-vs-post-money
What Is Financial Modeling & How Can It Help with Fundraising? https://www.excedr.com/resources/what-is-financial-modeling
Equipment Leasing vs. Financing: What's the Difference? https://www.excedr.com/blog/equipment-leasing-vs-financing
Finance https://www.excedr.com/category/finance
What Is a C-Corp & Why Do Investors Prefer It? https://www.excedr.com/resources/c-corp-investors-prefer
What Is Due Diligence? How to Prepare For It & Avoid Mistakes https://www.excedr.com/resources/what-is-due-diligence
A Guide to Writing a Small Business Grant Proposal https://www.excedr.com/blog/how-to-write-a-small-business-grant-proposal
How to Write a Business Plan for Your Biotech Startup https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs
How to get Funding for Lab Research in 2024  https://www.excedr.com/blog/how-to-get-funding-for-lab-researchThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

Part 2 of 3.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” on https://www.excedr.com/rewards.
My guest for this week’s episode is Terry Lo, President and CEO of Vizgen. Vizgen is developing and commercializing the next generation of genomics tools to expand on the capabilities of spatially resolved transcriptomics.
Terry is a pioneer in the emerging Spatial Biology market, with a proven track record of driving exceptional growth across global life science organizations, including Bristol-Myers Squibb, Roche, Hologic, and PerkinElmer. In addition to his two decades of experience scaling and building multinational biopharma and diagnostic groups, he is also an expert in developing business strategies for novel, innovative products.
Join us for part 2 of our conversation with Terry, where we talk about his transition from Big Pharma to diagnostics, the challenges of moving into the diagnostics industry, and the contrasts between drug and diagnostic development processes. Terry also discusses his experience at Roche, his time with Akoya Biosciences after PerkinElmer, and his involvement in the M&A process while balancing multiple roles. Please enjoy my conversation with Terry Lo.

Find Our Guest, Terry Lo, at these links: https://www.linkedin.com/in/terry-lo-034a034/https://vizgen.com/
Find Our Host, Jon Chee, at these links: https://www.linkedin.com/in/joncheehttps://www.excedr.com
Timestamps:00:28 Intro01:35 Leaving Bristol, joining Cytyc, and transitioning into International Strategy role 03:48 The contrasts between Diagnostics and Big Pharma05:28 Drug development vs. diagnostics development processes09:27 Moving to China and adapting to his role change from International Strategy to Managing Director10:43 Adjusting to life in China with his pregnant wife13:25 Moving back to the US and joining Roche Molecular in California15:26 Transitioning to PerkinElmer and Terry’s intro to spatial biology17:28 The challenges and triumphs in this new field20:25 The challenges of regulatory agencies and reimbursement in Diagnostics and getting a product through the FDA24:58 Merging with Akoya Biosciences after PerkinElmer to support Terry’s platform26:51 Terry’s experience with M&A of Akoya by PerkinElmer, balancing multiple roles29:13 Outro ​
Social & Website:LinkedIn: https://www.linkedin.com/company/excedr/ Youtube: https://www.youtube.com/@excedr Instagram: https://www.instagram.com/excedr_inc Twitter: https://twitter.com/ExcedrInc Facebook: https://www.facebook.com/excedr TikTok: https://www.tiktok.com/@excedr Podcast Website: https://www.thebiotechstartupspodcast.com/ 
Topics Mentioned:Corporate Business Development https://www.rontar.com/blog/corporate-development-vs-business-development/International Strategy https://phrase.com/blog/posts/international-strategy/Diagnostics vs. Pharmaceuticals https://tarikyildirim.com/blog/2019/1/21/pharma-vs-diagnosticsP&L statement https://www.investopedia.com/terms/p/plstatement.aspDrug development vs. diagnostics development https://www.ncbi.nlm.nih.gov/books/NBK235489/AI/ML in drug development https://www.fda.gov/science-research/science-and-research-special-topics/artificial-intelligence-and-machine-learning-aiml-drug-developmentProtein folding https://en.wikipedia.org/wiki/Protein_foldingProtein therapeutics https://www.nature.com/articles/nrd2399How Biotech & Big Pharma Partner to Support R&D https://www.excedr.com/blog/how-biotech-partnerships-support-researchSpatial Biology https://www.akoyabio.com/why-spatial-biology/Regulatory and reimbursement impacts in Pharma https://www.ncbi.nlm.nih.gov/books/NBK234312/ Drug approval with FDARegulatory and reimbursement impacts in Diagnostics https://www.lighthouselabservices.com/understanding-the-keys-to-diagnostic-reimbursement/Mergers and acquisitions (M&A) https://www.investopedia.com/terms/m/mergersandacquisitions.aspThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

Part 1 of 3.

As a podcast listener, you can redeem exclusive discounts with a growing list of biotech vendors and get $500 off your first equipment lease by using promo code “TBSP” at https://www.excedr.com/rewards.

My guest for this week’s episode is Terry Lo, President and CEO of Vizgen. Vizgen is developing and commercializing the next generation of genomics tools to expand on the capabilities of spatially resolved transcriptomics. Vizgen’s technology will aid the acceleration of biological research and discovery to advance human health. Terry is a pioneer in the emerging Spatial Biology market and has a proven track record of driving exceptional growth across global life science organizations, including Bristol-Myers Squibb, Hologic, Roche, PerkinElmer, and Akoya Biosciences. In addition to over two decades of experience scaling and building multinational biopharma and diagnostic groups, he is also an expert in developing business strategies for novel, innovative products.

Join us as we sit down with Terry as he talks about his early years, studying psychology and molecular genetics as an undergraduate at Ohio State and his later decision to pursue a master's in microbiology at Virginia Tech and then finance at the University of Chicago. Terry also discusses his transition from investment banking to corporate development and marketing roles at Bristol Myers Squibb, and highlights the importance of understanding customer needs and financial modeling in business development. Please enjoy my conversation with Terry Lo.

Find Our Guest, Terry Lo, at these links:
https://www.linkedin.com/in/terry-lo-034a034/
https://vizgen.com/

Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com

Timestamps:
00:28 Intro
02:10 Episode start, early experiences at Ohio State and Terry’s decision to pursue science
05:09 Terry's unique undergraduate lab experience in psychology and molecular biology
07:01 Terry's time at Virginia Tech as a molecular microbiology grad student running experiments
10:08 Terry mapping out his decision to go towards business after graduating from Virginia Tech
13:00 Terry's experience in sales after being in the lab
16:02 MBA at the University of Chicago and the decision that led Terry there
17:44 Key lessons and takeaways from being at the University of Chicago
19:28 Terry's experience in investment banking and financing, key takeaways, and learning financial modeling
25:28 Terry's time at Bristol-Myers Squibb in corporate development and experience in the marketing department
29:45 Terry's experience and transition to international business
31:50 Advice on business development
37:16 Outro

Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/

Topics Mentioned:
An Equipment Leasing Program for Scientists https://www.excedr.com/leasing
How to Fund an R&D Startup https://www.excedr.com/resources/rd-startup-funding-first-steps
Unleashing Innovation https://www.excedr.com/resources/rd-tax-credits-incentives
Biotech Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-research
Pre-Money vs. Post-Money: What's the Difference? https://www.excedr.com/resources/pre-money-vs-post-money
What Is Financial Modeling & How Can It Help with Fundraising? https://www.excedr.com/resources/what-is-financial-modeling
Equipment Leasing vs. Financing: What's the Difference? https://www.excedr.com/blog/equipment-leasing-vs-financing
Finance https://www.excedr.com/category/finance
What Is a C-Corp & Why Do Investors Prefer It? https://www.excedr.com/resources/c-corp-investors-prefer
What Is Due Diligence? How to Prepare For It & Avoid Mistakes https://www.excedr.com/resources/what-is-due-diligence
A Guide to Writing a Small Business Grant Proposal https://www.excedr.com/blog/how-to-write-a-small-business-grant-proposal
How to Write a Business Plan for Your Biotech Startup
https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

Part 3 of 3.
 
My guest for this week’s episode is Mike Stadnisky, Managing Director of Thielsen Capital. Thielsen Capital is a seed-stage financing syndicate network bringing together life science investors, operators, and innovators to drive exceptional outcomes for founding teams, investors, and science. Before Thielsen, Mike was the CEO of Phitonex, which Thermo Fisher acquired. He was also VP & GM of Informatics at BD Life Sciences and was the CEO of FlowJo before its acquisition by BD. He has also taught at MIT Sloan, authored 10 patents, and won the 2019 International Society for the Advancement of Cytometry Innovation Award.

Join us as we conclude our conversation with Mike Stadnisky as he discusses the important lessons that he learned from going through the M&A process, and how knowing about them early can benefit founders. We also discuss why it is essential for you to have the mentality that someone will see your corporate “underwear,” and why proper documentation is tedious yet vital to your company’s success. Finally, we conclude our interview with Mike by reviewing Thielsen Capital’s unique investment philosophy and the exciting things that are on the horizon for them. Please enjoy my conversation with Mike Stadnisky.

Find Our Guest, Mike Stadnisky, at these links:
https://www.linkedin.com/in/mikestadnisky/
https://www.thielsencapital.com/

Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com

Timestamps:
00:55 “Wouldn’t it be nice,” approach to calling in a favor
02:52 Be boldly innovative, but do not fake it till you make it
05:27 Learning the pitfalls of overpromising, being honest about what can and cannot be done
07:35 The importance of having loyalty and real excitement from your customer base
09:16 How social media is underutilized in the life sciences and what founders can learn from going through the M&A process
11:50 The importance of strategic optionality and other lessons learned from FlowJo’s acquisition
13:26 Decoding banker-speak and why you should always have the mentality that someone will see your corporate “underwear”
15:31 Lawyers, proper documentation, and other vital, yet unsexy, company hygiene practices
16:59 Write your own business case because you can never assume that another company understands it
19:48 Advice to startups about defining how your business will succeed and scale
22:13 Why a robust finance team and proper financial reporting are critical, even in the life sciences
24:40 Another of Mike’s financial modeling sins and being honest about how much capital your company really needs
27:01 How the M&A process inspired Mike to get into investing and start Thielsen Capital
29:57 Thielsen Capital’s objectives, mission, and what sets them apart from other VCs
31:44 Why Mike fundamentally disagrees with the 1:10 success rate model
34:02 How to maintain that founder magic and convincing people to operate in their own best interest
36:33 Paths other than the power law distribution VC route and why having optionality is important
39:55 Dangers of being in an over-capitalized environment and what getting on the venture treadmill means
42:29 Alignment and other important things founders must consider when they use alternatives fundraising sources
44:55 Finding the right people to match where your company is and why Thielsen’s focused investment philosophy is not for everyone
47:16 What's on the horizon for Thielsen Capital and the unique communal aspect of the life sciences industry
50:06 Why the work life science companies do is amazing despite their struggles to explain it to the public clearly
51:46 Mike shouts out his wife, mentors, and exceptional teams that he has worked with
54:05 Advice and perspective Mike would share with his younger self
55:47 Outro

Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/

Enriched Notes:

Topics Mentioned:
Thielsen Capital https://www.thielsencapital.com/
FlowJo Inc.  https://www.flowjo.com/
Phitonex https://www.linkedin.com/company/thermospectralcytometry/
Levi’s https://www.levistrauss.com/levis-history/

How Do Core Labs Support Life Science Research? https://www.excedr.com/blog/core-labs/
Top Cities for Biotech https://www.excedr.com/blog/top-cities-for-biotech/
What Should Investors & Founders Expect From Each Other? https://www.excedr.com/resources/investor-founder-expectations/
What is Financial Modeling https://www.excedr.com/resources/what-is-financial-modeling
Software Tools for Keeping Startup Costs in Check https://www.excedr.com/blog/tools-for-keeping-startup-costs-in-check
Guide to Reducing Startup Costs & Expenses https://www.excedr.com/blog/startup-costs-and-expenses
What Is Equity Crowdfunding https://www.excedr.com/resources/equity-crowdfunding-in-biotech
How to get Funding for Lab Research https://www.excedr.com/blog/how-to-get-funding-for-lab-research
Guide to Grant Funding for Biotech Startups https://www.excedr.com/resources/grants-public-funding-biotech-startups
Biotech Startup Funding Options https://www.excedr.com/resources/biotech-startup-funding-options
VC Term Sheets: What They Include & Why They Matter https://www.excedr.com/resources/venture-capital-term-sheets/

Multi-Omics https://en.wikipedia.org/wiki/Multiomics
Ultrarunning https://en.wikipedia.org/wiki/Ultramarathon
Term sheets https://www.investopedia.com/terms/t/termsheet.asp
Mergers and Acquisitions (M&A) https://www.investopedia.com/terms/m/mergersandacquisitions.asp
Business Development https://www.investopedia.com/articles/personal-finance/090815/basics-business-development.asp
Decision-Makers vs. Technical Champions https://www.linkedin.com/pulse/champion-vs-decision-maker-whom-target-b2b-customer-frederik-vosberg/
What are KOLs
https://www.linkedin.com/pulse/what-kol-marketing-key-opinion-leaders-retailboss/
Go-to-Market Strategy https://www.cognism.com/blog/what-is-a-go-to-market-strategy

People Mentioned:
Mario Roederer https://www.flowjo.com/about/company/founders
Alex Roederer https://www.linkedin.com/in/alex-roederer-8562051b9/
Alvin Phitonex https://www.linkedin.com/in/alvin-lebeck-b626842/
Craig LaBonda https://www.linkedin.com/in/craiglaboda/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.