Caiti Dolegowski (CD): We are pleased to have Corval back as a Redefining Early Stage Investment (RESI) sponsor for LSN’s upcoming RESI JPM conference in San Francisco! For those who may not have connected with you at RESI Boston in September, introduce us to Corval.
Susan Nemetz (SN): Corval® is a strategic planning platform that enables teams to quickly create a tailored multi-year commercialization map with a companion budget and resource plan. We specifically designed Corval for biopharma companies (or their consultants) that need the highest quality expert thinking but don’t yet have the internal capabilities to manage early commercialization priorities.
Corval is pre-populated with 75,000 data points informed by industry benchmarks across different biopharma companies and therapeutic areas. Biopharma leaders just need to guide the platform with their unique clinical and regulatory milestones, asset assumptions, and company information then let Corval do the heavy lifting. The Corval platform quickly builds a 3-5 year strategic commercialization map, budget, and hiring plan with multiple executive views. The integrated logic allows them to quickly update the full plan when timelines and data change as they always do.
CD: Susan, you are the Founder & CEO of Corval, tell us more about yourself and how Corval came to be.
SN: I have been in the biopharma industry my entire career across different roles and company types. I have seen the amazing contributions our industry makes in science and for patients and I have seen the inefficiency, some of which can be addressed through technology.
In addition to founding and leading Corval, an innovative software company, I am the CEO and Founder of The NemetzGroup, a successful, strategic commercialization consultancy. The NemetzGroup has been instrumental in supporting the evolution of over 200 biopharma companies from startup to publicly traded and the development of numerous assets from targets to approved, life-saving treatments. With more than 35 years of corporate strategy, commercial, medical affairs, business development, and operational experience, C-suite leadership teams rely on our thought partnership and mentoring to achieve goals across all stages of drug development.
Prior to launching The NemetzGroup in 2003, I held various corporate roles including as Vice President, Global Commercial Strategy, and then Vice President of International Commercial Operations at Millennium Pharmaceuticals. Previously, I was fortunate to progress through multiple commercial leadership roles at DuPont Pharmaceuticals that culminated in a role as Executive Vice President of the cardiovascular and imaging franchise. I also serve as an advisor of Life Science Cares, a collective effort of the life science industry to eliminate the impact of poverty on Boston neighborhoods and I am on the Board of Directors of Good Shepherd Community Care. Good Shepherd is dedicated to delivery of the highest quality of palliative and hospice care, support, and education for those experiencing serious illness or loss.
CD: What can RESI JPM attendees learn from you and who are you looking to connect with at RESI?
SN: We are interested in speaking to anyone who has a vision for their asset and needs to make sure all the steps and resources required are accounted for so their drug will get to the patients who need it. Specifically, pre-commercial companies at about P2 who need to understand what it takes to commercialize in either a go-it-alone or partnering scenario. Often these companies are also looking for funding and need to tell the story regarding use of proceeds to commercialize their asset. In summary, we are looking to speak to companies who are building plans that involve one pre-commercial asset or portfolio of assets and may also involve modeling or comparing different scenarios to inform strategic decisions.
Since we were last at RESI, we have introduced an enterprise offering of Corval which means the platform can also transform how service providers, VC/PE firms support their clients. Our platform supports firms to:
- Create a market advantage by engaging prospects with a dynamic, real-time strategic planning tool
- Provide an innovative, collaborative, and flexible client/consultant interface for planning, support, and transparency across all functions
- Analyze and manage their portfolio across all accounts to maximize service offerings to guide clients and support relevant business development
CD: Who among Corval’s staff will be attending RESI?
SN: Our Business Development Representative Nigel Cawthon and Head of Engineering & Technology, Paul Sohal, will be attending the RESI JPM conference. They attended in September and had a wonderful time and really enjoyed the connections they made. They are thrilled to be back.
CD: What worked well for Corval at RESI September and what connections were made?
SN: With the pre-conference app, RESI made it effortless for us to connect with likeminded individuals and anticipate meaningful conversations before we even entered the building. The entire event was incredibly well-organized with engaging breakout sessions on industry trends and thought leadership—as well as funding opportunities and grants for early-stage companies. Both during the conference and after in follow-up conversations, RESI was a tremendous opportunity to showcase and illustrate Corval’s technology and innovation in biopharma commercialization.
CD: RESI hosts early-stage startups, what is the optimal timing for a biopharma company to prepare for the commercialization process?
SN: Begin planning early, but stage-gate your implementation. Most failed launches are becausecritical steps were not completed early enough, or they missed some entirely.
Early-stage biopharma often ignores the need or kicks the can down the road in later P3 because they are only focused on the science. But studies have proven that the companies that DO engage in early strategic planning are much more likely to reach their financial goals and serve the patients’needs that are a focus of their science. I cannot stress enough the importance of planning asearly as possible (typically around Phase 2) so commercialization thinking can inform in allaspects of clinical development resulting in a strong differentiated product profile that is the foundation of success in the market at launch and over the product life cycle. This is why we all do what we do in this industry. Use Corval, and you will save time, money, energy, and, just maybe, your sanity!
Momo Yamamoto, Investor Research Analyst, LSN | Dennis Ford, Founder and CEO of Life Science Nation, Creator of the RESI Conference Series | Christoph Meinert, PhD, CEO & Co-Founder, Gelomics
Susan Nemetz
