BD as a Service

25/10/2024

Is Email Marketing Dead?

I get a lot of cold emails, and most of them irritate me. They are generic, and have subject lines straight out of ChatGPT. My 'favorite' word is elevate - I am convinced that ChatGPT is on a secret mission to infect the world with it. Has there ever been a person who thought their business needs 'elevating'?

Yet, on more than one occasion I replied to a good cold email and was not disappointed. And some of the best clients of BD as a Service came from cold emails.

Many businesses doubt the effectiveness of email marketing due to low open rates and minimal engagement. It's true that crowded inboxes and spam filters present challenges. But is email marketing truly dead, or is the strategy behind it lacking?

The Real Issue: Strategy, Not Email
We had a client ready to abandon email marketing after their generic campaigns yielded little to no engagement. After the client came to us, we persuaded them to give email another chance.

We suggested that they pick a narrow audience and come up with a message that addresses relatively small, but annoying problem they could solve. Once the foot is in the door, we can always talk about the big stuff.

The result? We started booking meetings almost immediately, even before any follow-ups. This success came from a focused strategy that resonated with the right people.

Why This Approach Works

Tailoring emails to a specific audience makes them more effective. By understanding the unique challenges of a niche group, you increase the likelihood that your message will resonate.

Personalization isn't just about using first names. Of course, you can trick people into thinking you researched them by mentioning their hometowns and the conferences they attended recently. You may get their attention, but what's next?

Ultimately the success of a cold email comes down to addressing a relevant problem that genuinely bothers your audience.

Is Email Marketing Dead? I get a lot of cold emails, and most of them irritate me. They are generic, and have subject lines straight out of ChatGPT. My…

16/10/2024

AI's Role in the Resurgence of Small Molecule Drugs

Do you know the LL Cool J song Mama Said Knock You Out? The first words are, "Don't call it a comeback, I've been here for years." That’s exactly how I feel looking at what’s happening in the small molecule drug market right now.

About 15 years ago, I remember sitting at a conference where a pharmaceutical economist presented a rather bleak picture of the future for small molecules. He showed the net present value (NPV) of drug development projects at the time. While biologics had an NPV of over a billion dollars, small molecules had a negative NPV. In other words, investing in small molecules back then would likely have lost you money. It felt like a death sentence for that class of drugs.

But it seems like that math is changing—and AI is the driving force behind it.

Why Small Molecules Were Written Off
Biologics have dominated the market for several reasons. Their predictability and safety profiles made them more appealing to developers and investors. These advantages justified the high costs associated with developing biologics and made them the go-to option for many companies. Meanwhile, small molecules were considered risky. Predicting their interactions with targets and their potential side effects was much harder, which made the returns on investment much less appealing.

How AI Is Revitalizing Small Molecules
Today, AI is leveling the playing field. Advanced algorithms can now model and predict how small molecules will interact with specific targets in the body. AI can also assess the safety profiles of these compounds, flagging potential adverse reactions before they reach clinical trials. What used to be a guessing game is becoming an exact science.

And small molecules have always had advantages that biologics couldn’t match. They’re cheaper to produce, can be taken orally, and can cross the blood-brain barrier—an essential trait for many neurological treatments.

With AI making them more predictable and safer, the small molecule market is primed for a comeback.

16/10/2024

AI's Role in the Resurgence of Small Molecule Drugs

Do you know the LL Cool J song Mama Said Knock You Out? The first words are, "Don't call it a comeback, I've been here for years." That’s exactly how I feel looking at what’s happening in the small molecule drug market right now.

About 15 years ago, I remember sitting at a conference where a pharmaceutical economist presented a rather bleak picture of the future for small molecules. He showed the net present value (NPV) of drug development projects at the time. While biologics had an NPV of over a billion dollars, small molecules had a negative NPV. In other words, investing in small molecules back then would likely have lost you money. It felt like a death sentence for that class of drugs.

But it seems like that math is changing—and AI is the driving force behind it.

Why Small Molecules Were Written Off
Biologics have dominated the market for several reasons. Their predictability and safety profiles made them more appealing to developers and investors. These advantages justified the high costs associated with developing biologics and made them the go-to option for many companies. Meanwhile, small molecules were considered risky. Predicting their interactions with targets and their potential side effects was much harder, which made the returns on investment much less appealing.

How AI Is Revitalizing Small Molecules
Today, AI is leveling the playing field. Advanced algorithms can now model and predict how small molecules will interact with specific targets in the body. AI can also assess the safety profiles of these compounds, flagging potential adverse reactions before they reach clinical trials. What used to be a guessing game is becoming an exact science.

And small molecules have always had advantages that biologics couldn’t match. They’re cheaper to produce, can be taken orally, and can cross the blood-brain barrier—an essential trait for many neurological treatments.

With AI making them more predictable and safer, the small molecule market is primed for a comeback.

AI's Role in the Resurgence of Small Molecule Drugs Do you know the LL Cool J song Mama Said Knock You Out? The first words are, "Don't call it a comeback…

15/10/2024

The BIOSECURE Act: Big Changes Ahead for CDMOs?

As autumn conferences keep us busy, a major shift in our industry may be flying under the radar: the BIOSECURE Act. Passed by the House of Representatives on September 9, 2024, with strong bipartisan support (306 to 81 votes), this legislation is designed to reduce US dependence on Chinese biotech companies. It's now waiting for Senate approval and the President's signature, and it could have a big impact on the CDMO industry.

What Does the BIOSECURE Act Mean for the Industry?

The act includes a procurement ban, which prevents US government agencies from:
▪️ Buying biotech equipment or services from "companies of concern."
▪️ Working with companies that use services or equipment from these companies.
▪️Additionally, any organization working with such companies won't be eligible for US government grants, loans, or contracts.

Which Companies Are Affected?

The act targets companies that:
▪️ Are based in countries like China, Russia, Iran, North Korea, or Cuba.
▪️Pose a national security risk by:
- Partnering with foreign militaries.
- Sharing sensitive data with foreign governments.
- Collecting human data without consent.

Four companies are currently named: BGI Genomics, MGI, Complete Genomics, and WuXi AppTec.

Impact on the CDMO Industry
CDMO companies are already adjusting supply chains to reduce reliance on China. This opens the door for companies in neutral or Western-aligned countries to step up and meet new demand.

Even though the act doesn’t cover all Chinese CDMOs, many companies may still feel the impact due to the industry's cautious approach, which could lead to:

Shortages and shifts in CDMO capacity.
More trade restrictions in biotech, similar to those in the semiconductor space.
Opportunities and Risks

The BIOSECURE Act is a challenge for companies that rely heavily on outsourcing to China. But it’s also a chance for companies offering secure and reliable alternatives to gain new business.

Looking Ahead
This act could reshape the industry. CDMOs and their clients need to stay alert, diversify supply chains, explore new partnerships, and invest in domestic capabilities to thrive in this changing landscape.

15/10/2024

I’ll be at the Festival of Biologics in Basel, October 15-17. If you’ll be there too, let’s catch up!

10/10/2024

A Masterclass in Consultative Sales from Better Call Saul

Watch this video. It's 3.5 minutes long.

https://buff.ly/3YmRwrm

It's from Better Call Saul TV show, and I think this is the best example of consultative sales in popular media.

Many believe that winning clients requires enthusiasm and praise for your own abilities. However, a scene from Better Call Saul featuring Mike Ehrmantraut, Gus Fring, and Werner Ziegler offers a different perspective on consultative sales.

In the scene, Ziegler approaches a massive construction project with realism, not excitement. Unlike other candidates who failed to land the deal, Ziegler listens carefully, asks insightful questions, and acknowledges the complexities involved. His calm, understated confidence wins him the contract.

Key Takeaways:

Understand Client Needs – Ziegler listens and assesses instead of pitching solutions too quickly.
Realism Over Optimism – He doesn’t sugarcoat challenges, building trust through honesty.
Understated Confidence – By focusing on the work, not self-promotion, he proves his competence.

This scene is a reminder that consultative sales aren't about being the loudest but about offering real value, trust, and expertise.

Shortly after Werner is invited to evaluate the construction site, he is introduced to Gustavo.Season 4 Episode 5 - Quite A Ride: In a flash forward (taking ...

10/10/2024

The Simple Truth About Storytelling in Biotech

If you’re a biotech founder, you’ve probably heard the same advice a hundred times: "You need to tell a compelling story to get investors on board." If you come from a background in, Finance, Research, or Medicine, that kind of talk can sound like fluff.
It’s the hard numbers and facts that matter, right?

The reality, however, is that data and research alone often are not enough to convince investors. It’s not because they don’t understand the science; it’s because they need to know why it matters beyond the lab.

I recently worked with a biotech founder who had all the pieces in place—solid data, a clear proof of concept, and a product with real potential. But when he walked into a room full of investors, the conversation stalled.

He was too deep in the technical details, talking in a way that made sense to researchers but left everyone else cold. It wasn’t until he shifted the focus to the origin of the company, the frustration that lead him on his journey and the impact on patients’ lives that the investors leaned in.

That’s what storytelling in biotech is really about—not hype, not overpromising, but connecting the dots between your motivation, your science and its real-world value.
Here’s why it works:

▪️ Turning Complexity into Clarity: It’s about making your technology accessible—helping investors see not just what it does, but why it’s worth their time.

▪️ Creating a Connection: It’s not just data; it’s about the lives your work could touch. That’s where the real engagement happens.

▪️ Building Trust: Investors need to know you’re realistic about both the challenges and the potential of your innovation. No shortcuts, just straight talk.

▪️ Guiding the Investor’s Journey: It’s showing where you are now and where you’re headed, with all the bumps in the road included.

As you pitch, remember: it’s not just about the numbers and data. It’s also about giving investors a clear sense of your journey—where you started and where your innovation is headed.

The Simple Truth About Storytelling in Biotech If you’re a biotech founder, you’ve probably heard the same advice a hundred times: "You need to tell a…

09/10/2024

Turning a Locked-In Contract Into a Win

Imagine this scenario: You're selling a technology solution. It’s better than anything your client has seen. In fact, the client is blown away. They’re excited and ready to move forward with your solution. But as they go to cancel the existing solution, it turns out that your client is locked into a contract with their current system for another year.

The sensible, and perhaps easiest, approach would be to say, “Let’s put a date in the calendar for next year and reconnect when your contract expires.” It seems straightforward enough. After all, their decision is constrained by contract terms, and waiting until the contract ends might seem like the only option.

However, this approach carries risks.

The Hidden Risks of Waiting

When you leave things for a year, a lot can change. Priorities may shift. The client’s attention could move to new projects, or internal restructuring might make it harder to pick up the conversation where you left off. You may find yourself in the same position a year from now, trying to reestablish momentum. The competitive window you once had could vanish.

A Creative Solution to a Locked-In Contract

What did the company I was helping do in this scenario? They didn’t wait. Instead, they offered the client the solution for a symbolic price for one year.

Yes, this meant taking a short-term financial hit. But it did something powerful: it gave the client an alternative to a system they no longer wanted. The client, already frustrated with their existing provider for locking them into a solution they weren’t happy with, jumped at the opportunity.

Why This Works

By offering the solution at a symbolic price, the company made it easy for the client to start using their system right away. The client's dissatisfaction with their current provider created a powerful incentive to adopt the new system, even if it was technically a "side project" for the next year.

As a result, when the client’s existing contract ends, the decision to fully switch to the new solution is practically guaranteed. They’ve already had a year of positive experience with the better system, and they’ve likely integrated it into their workflows.

Overcoming the Sunk Cost Fallacy

This strategy helps clients overcome the sunk cost fallacy—the cognitive bias that leads people to continue using something just because they’ve already invested in it. By giving the client a low-cost way to transition, the company made it easier for them to break free from a system they didn’t want, without feeling like they were wasting money.

Sometimes, making a small sacrifice in the short term ensures that your client doesn’t lose out in the long term—and it all but guarantees a future, full-price renewal.

08/10/2024

I’ll be at BiotechX 2024 in Basel, November 5-7. If you’re there, let’s take a moment to connect and chat!

08/10/2024

I’ll be at BiotechX 2024 in Basel, November 5-7. If you're there, let’s take a moment to connect and chat!