Accelerating value creation in biotech firms

Fintan Walton talks to Dick Haiduck about his work with Implicit Bioscience, Cytopia and others, and his ‘partner to CEO’ service. Dick describes these two different companies - both based in Australia - and their product offerings. The companies are at different stages of development, and therefore have different requirements: Implicit Bioscience is focused on immunology-based drug development, while Cytopia focuses on JAK (Just Another Kinase) inhibitors for cancer treatment. A third company that Dick works with focuses on a point-of-care hydration measurement tool.

Dick, who is CEO of Implicit Bioscience, US Operations, talks about the founding of the firm in 2004; this was based on the principle that quality people are critical to driving success. The company’s business model, which initially involved acquiring assets to a compound previously tested for a different indication, and exploring how new technology can overcome the problems encountered during clinical development, is particularly interesting.

Following a brief discussion of Dick’s industry experience, Fintan asks him about the biotech landscape today, the trend of pharma buying up biotech firms and access to capital for firms. Despite the challenges that the industry faces, Dick assures us that the combination of entrepreneurship and good science in the US are irrepressible, and that these will, inevitably lead to success, even if CEOs have to become increasingly creative.

About Dick Haiduck

Dick Haiduck, BSc, MBA, has extensive experience in the life sciences industry. Prior to his ‘partner to CEO’ work, Dick gained extensive life sciences M&A, and licensing experience as Managing Director, Burrill & Company. Earlier in his career, Dick spent 14 years at Abbott Laboratories, where he held the position of International Company Managing Director, and was at one time responsible for the productivity of Abbott’s US Pharmaceutical Operations.

About Implicit Bioscience

Implicit Bioscience Pty Ltd is an immunology-focused drug development company headquartered in Brisbane, Australia, but with US offices located on the San Francisco Peninsula. Set up in 2004, the company has a team with significant industry experience across the full range of drug development and commercialisation activities.

The company has a portfolio of small molecule drug candidates in immunomodulation, cardioprotection and neuroprotection, vaccine delivery and adjuvancy. Implicit’s lead compound, oglufanide disodium, is a synthetic dipeptide immunomodulator, with a primary indication for influenza.

For more information about Implicit Bioscience, visit www.implicitbioscience.com