BIO starts in June, right?
Wrong.
Perhaps BIO starts in late April, when partnering opens?
Sorry. Wrong again.
BIO started the moment you decided to include this important conference into your in- or out-licensing plan.
For those of you us out-licensing assets, there is at least a 30-60 day run up to the opening of the partnering system.
Why?
What is your message? – You need to think about what you will present, and how it will be presented. What will you say in the meeting invitation to maximize the chance of an Acceptance?
What are you presenting? – Is your conference deck too wordy and technical? (Hint: I hope not). Do you have another, more detailed deck ready for post-meeting follow up? (Hint: You should).
What is missing? – Need more physician interviews? Better reimbursement analysis? Fine tune the clinical development program budget? All of these issues should be buttoned down before invitations are sent out. So now is the time to fill in the gaps in the presentation(s).
Who do you want to meet? – For some assets in some therapeutic areas, this is fairly straightforward. For instance, there are relatively few companies looking to in-license Preclinical ophthalmology assets. Conversely, lots of companies would love to get their hands on an approved product generating sales in the US or Western Europe.
Who is representing your company and your asset? – In our view, BIO is not the time nor the place to send in your hard-charging, bulldog of a corporate executive, ready to negotiate escalating royalty rates in years 10+. This is the time and place to initiate the development of long-term relationships. Perhaps a deal will emerge. Perhaps not.
But personality, charm, and a smile are much more likely to lead to a friendly, sincere follow up discussion. Those 30 minute meetings are interviews. You are representing your company, your asset, and indeed, yourself. The person you are meeting with could be your next employee, or your next boss, and should be treated accordingly.
Some of these points may sound trivial. But at a huge conference like BIO, where grabbing a meeting (or having a follow up meeting) with a potential partner can be a challenge, it behooves all of us to do everything we can to maximize our chance of success.
And that takes thinking, preparation, planning, and execution.
So when does BIO start?
It already started…today…right now…