Next Phase Newsletter

Susan Nemetz

Interview with Susan Nemetz, CEO at Corval By Caitlin Dolegowski, Marketing Manager, LSN

Caitlin Dolegowski

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! 

Greg Mannix

Interview with Dennis Ford By Greg Mannix, Vice President International Business Development, General Manager Europe, LSN

Dennis Ford

Gregory Mannix: Please Explain why Life Science Nation’s Redefining Early Stage Investments (RESI) conferences are a good strategy for a startup seeking capital investment and licensing partners. 

Dennis Ford: It is very hard navigating all the partnering events and conferences if you are a startup with a limited budget, and trying to figure out which events will be best and most fruitful for you and your firm. 

 The first thing is getting in context; if you are raising a seed, Series A or Series B round, it can take 9-18 months to complete a round. Secondly, it is a numbers game. You must increase your visibility to as many potential players as possible, and it is not enough to go to a few events a year. You must be committed to being out in the marketplace, kissing many frogs, hearing many nos, and not being deterred. Third, this is not a part-time undertaking. It takes dedication to do a global fundraising campaign. It is a journey; you will have ups and downs along the way and must persevere.  

GM: What is your fundamental advice to startup CEOs? 

DF: My advice to startup CEOs is: every time you stick out your hand, you will be giving up as much as 20% of your company, so make sure you do the math and know how much cash you need for the next 24-36 months so that you have cash and runway to make your milestones and get your data for your next inflection point before the next round.   

GM: What is the distinct differentiator for a RESI Partnering Event? 

DF: RESI is unique because it has been a dedicated partnering event for over a decade, and while other events may have 10-15% investors in attendance, 50% of RESI’s attendees are investors. This bodes well for booking meetings with investors who fit your product and stage of development. Follow the money! 

 RESI is cross-border; we have three events in the U.S., one in Europe, and one in Asia, and it is also cross-silo, meaning that the buy-side attendees are seeking early-stage drugs, devices, diagnostics, and digital health (the 4Ds) startups for their portfolios. A startup can follow the RESI events every few months worldwide and use RESI to execute their global roadshow.  

GM: Who attends a RESI event? 

DF: The audience is well defined. As stated, the attendees are split 50/50 between sell-side startups across the 4Ds and ten categories of buy-side investors and licensing partners. This makes RESI partnering events incredibly interactive, and deals get done. LSN estimates that we have helped over 400 startups raise over $5B. The startup-to-investor ratio has been the same for the last ten years. The investors range from angels and family offices to early-stage VC and PE, Big Pharma and MedTech strategics, and corporate and government funders. 

GM: Startups are frustrated with the extravagant pricing models to attend events today. What has LSN done to help with this pricing pain point? 

DF: LSN introduced a flexible pricing model during COVID-19 that coincided with our virtual conferences that have morphed into present-day pricing. The challenge is finding price points that fit a startup company’s ever-changing stage of development.   For example, if you are a new startup, you can buy an audience access pass for $595. Although you will not have access to the partnering system, you can experience all the investor panels and workshops firsthand to see how other startup CEOs leverage RESI in their fundraising campaign.  They can attend pitch challenges to see how other start-up CEOs pitch to investors and subsequently observe investor reactions and questions. Attending RESI and learning through observation is invaluable for a newcomer.  

Presently, RESI is a three-day event with one face-to-face and two virtual days, so we adjusted the pricing so a startup can purchase a one-day, in person event with partnering for $1,795. Alternatively, the standard three-day package costs $2,295, which allows flexibility and is very competitive with the extravagant pricing that is out in the event arena today. Lastly, for a company that wants to participate in partnering, but cannot physically attend the conference, they can register for a virtual-only pass that costs $1,195, allowing them to connect with investors via videoconferencing.