âBoehringer Ingelheim knows what it takes to be innovative and entrepreneurial. From the small factory in 1885 to todayâs multi-billion-dollar global pharmaceutical organization, we know how important it is to nurture and develop young science and technology businesses. Our track record of bringing breakthrough medicines to patients starts with new ideas and new science. Collaborations with external partners play an essential role in helping us deliver an innovation-led portfolio…â From âPartnering Day with Boehringer Ingelheim,â Biocom, September 21, 2017.
Three young entrepreneurs from the University of California San Diego, knew the value of the Boehringer Ingelheim prize when they pitched their business ideas to investors, faculty and students. The prize includes a âgolden ticket,â or one years âworth of workspace at bio-labs, an infrastructure office space for startups, located on the UC San Diego campus. It also includes mentorship and exposure to investors to help the companies get a kick-start to successful innovation and connections.
The Rady School is honored to have alumni who were the last three prize-winners of the three previous years. We wanted to find out how the prize affected them, and where they are today:
Cory Bentley
The 2017 winner of the first-ever Boehringer Ingelheim Innovation prize was RIFT Biotherapeutics, a biotech company founded by Rady alum, Cory Bentley (MBA ’10).
Tell me about your company?
I founded RIFT because I saw there was a critical area of cancer biology that hadn’t been addressed: Inflammation. I believe if the inflammation in cancer is targeted, cancer treatments can be improved.
Why did you start RIFT?
I didnât see anyone addressing cancer in this way at the time. The immune system often sees cancer as a wound that should be healed, rather than something it should get rid of. The immune system will actually make cancer stronger by supporting it with blood supply and growth factors, components of inflammation. People become resistant to anti-cancer treatments because their immune system is protecting the tumor from therapy with this inflammatory environment. It is an essential mechanism of resistance to cancer treatment. RIFT discovered an antibody-based drug that may help the immune system switch from being pro-tumoral to anti-tumoral.
How has the Rady School of Management helped you achieve your goals?
Rady gave me the confidence to know some of the significant components of starting a business and moving a large project forward. Some of these components included financing, intellectual property, accounting and people management. I wouldnât have known how to start or run a business if I hadnât gone to the Rady School.
Eric Venn-Watson
The 2018 winner of the Boehringer Ingelheim Innovation prize was Epitracker, a biotech company founded by Rady alum, Eric Watson (MBA ’10).
Tell me about your company?
Epitracker is a San Diego-based life sciences company that discovers and optimizes small molecules to treat some of the world’s most devastating diseases. To date, Epitracker has analyzed millions of metabolomic, genomic and clinical data points from archived, longitudinal, serum samples collected over 50 years. Through this process, we have discovered novel small molecules that target longevity, neurodegenerative diseases, fibrotic diseases and pulmonary diseases.
Why did you start Epitracker?
Part of my background includes being a physician in the Navy. I have a passion for science, as well as the entrepreneurial and business side of the equation. I wanted to start a company and it has included both of those passions.
How has the Rady School of Management helped you achieve your goals?
Every business school has its area of expertise. The Rady Schoolâs, is innovation, especially in the tech and biotech fields. I learned everything from the operational aspects of being an entrepreneur to handling finances as a business owner, and I was even able to grow my network within the San Diego area substantially. San Diego is an incredible city that has many key opinion leaders who are willing to help you and mentor you. The Rady School has amazing professors that will provide real-time feedback and help you develop your ideas. Knowing what you need to get started, and how to successfully develop and grow your technology, is essential.
The Boehringer Innovation prize provided lab space for a year. It helped us focus on growing the company more than anything. It also gave us credibility in terms of pitching our business to investors and experts in the field, as well as submitting for grant funding. Today, we have many compounds going through the FDA process, over 30 patents, and have raised just under three million dollars in private capital and an equal amount in grant funding. The Boehringer prize has helped us expand more rapidly by having access to a state of the art lab and a broad support network. It is an environment that is very conducive to advancing our research and our company. The combination of a Rady MBA and Boehringer Innovation prize has enabled us to accomplish much in a relatively short period. Thank you, Rady and BI!
If youâd like to read more about Epitracker, click here: http://www.epitracker.com/
Simon Bailey
The 2019 winner of the Boehringer Ingelheim Innovation prize was Darkwood Pharma, a biotech company founded by Rady alum, Simon Bailey (MBA ’11).
Tell me about your company?
Darkwood Pharma is a drug discovery company, focusing on developing novel therapies for fibrosis, with a particular emphasis on liver fibrosis due to advanced non-alcoholic steatohepatitis (NASH). NASH is a progressive liver disease that affects millions of Americans, causing fibrosis and cirrhosis, and it will be the leading cause of liver transplantation by 2020. Darkwood Pharmaâs mission is to discover and develop liver-targeted compounds which will halt and reverse fibrosis and prevent cirrhosis in this disease, for which there is currently no approved treatment, despite intense interest from the pharma/biotech world. By developing compounds that selectively act in the liver, our approach will both increase the effectiveness of the drug as well as minimize side effects which will benefit these severely ill patients.
We are hoping to have our first drug candidate molecule identified in 2020.
Why did you start Darkwood Pharma?
Iâve spent my entire career working in drug discovery, leading diabetes and oncology medicinal chemistry departments at a large pharmaceutical company then as head of research for a mid-sized biotech. Iâve been very fortunate to have led teams that have discovered many drug candidates, including two that been approved for use in lung cancer. So, if I ever started a company, it was going to be a drug discovery company.
The specific reason for founding Darkwood Pharma is that in NASH there is a compelling combination of unmet medical need and scientific opportunity that attracted me. I recognized that a small company that can be singularly focused on developing liver-targeted drugs, that can be flexible and nimble in a way that larger companies canât, would be differentiated from the competition. Plus, I thought it would be fun.
How has the Rady School of Management helped you achieve your goals?
In a way, the Rady School led to me applying for the Boehringer-Ingelheim Innovation Prize. I went to the BI prize event in 2018 to support another Rady School company, long before I had founded Darkwood Pharma, and so it was on my radar to apply for it this year. The judging process involves a pretty rigorous evaluation by BI scientists as well as their âResearch Beyond Bordersâ external innovation group, so it was pleasing to hear the positive feedback and validation of the science and the company concept after such a thorough process. We are continuing to explore a possible collaboration with BI since NASH is a focus area for them.
More generally, going to the Rady School allowed me to connect with and learn much more about the local San Diego biotech/entrepreneur ecosystem, than I ever had the opportunity to do during the 20 years I spent working for a large pharma company. This included venture capitalists, entrepreneurs and small biotech companies. I gained an appreciation of how that world works. Also, San Diego is an active environment for innovation, and we need people creating companies here, not in Boston or the Bay Area. The Rady School is a great way to make connections and get involved to continue to build the San Diego innovation community.
Find out more about Darkwood Pharma here: www.Darkwoodpharma.com