Read the summary and watch or listen to the interview here: https://www.crowleylawllc.com/podcasts/navigating-the-biotech-world-insights-from-krista-mckerracher/
Introduction to the Podcast
Philip Crowley: Welcome to From Lab to Patient, Garage to Market, with your host, Phil Crowley. In each episode, we discuss topics important to tech startups and the professionals supporting them. You can find this podcast on major platforms like YouTube, LinkedIn, Facebook, Apple Podcasts, Spotify, and on our website, CrowleyLawLLC.com.
Now, here’s your host, Phil Crowley.
Hi, and thanks for tuning in! Our podcast is dedicated to providing helpful insights for founders and aspiring entrepreneurs in the life sciences and tech startup worlds. We invite experts to share their knowledge and experiences to give listeners a behind-the-scenes look at these industries.
Meet Krista McKerracher
Philip Crowley: Today, I’m thrilled to welcome a friend, former colleague, client, and successful pharmaceutical and biotech executive—Krista McKerracher, founder of Fig Advisory. Welcome, Krista!
Krista McKerracher: Thank you, Phil. It’s great to be here.
Philip Crowley: To start, how did you first get involved in the life sciences? What was your undergraduate focus?
Krista McKerracher: I pursued a degree in Applied Health Sciences, which was essentially pre-med. From a young age, I loved biology, chemistry, and science. I initially planned to go to medical school. After earning my degree, a classmate got a job as a pharmaceutical sales rep. At the time, I had no money, so I decided to try it for a year before returning to med school. Forty years later, I never went back, but I built a fulfilling career in pharmaceuticals.
Krista’s Early Career in Pharma
Philip Crowley: Can you give us an overview of your career for those considering the pharma and biotech space?
Krista McKerracher: Sure. Right after my undergrad, I became a pharmaceutical sales rep in Toronto, Ontario. My plan was to work for a year and then attend med school, but I ended up staying. I started in sales, then transitioned into hospital sales, focusing on specialist products.
In 1988, I responded to an ad saying, “Join the biotech revolution.” That led me to become the third employee at OrthoBiotech Canada. Being part of a startup gave me broad experience, as I wore many hats. Eventually, this role brought me to the U.S. with Johnson & Johnson.
Biotech Revolution and OrthoBiotech
Krista McKerracher: At OrthoBiotech, I worked on groundbreaking projects, including launching the first monoclonal antibody, Orthoclone OKT3. Back then, monoclonal antibodies were made using mouse cells, and I traveled across Canada educating transplant centers about this technology.
I also worked on recombinant erythropoietin (EPO), a protein that stimulates red blood cell production. Initially, we used it for dialysis patients, but we quickly explored other applications, including anemia in cancer patients. This led me into the oncology space, where I spent most of my career.
Philip Crowley: For listeners unfamiliar with biotech, how does erythropoietin work in treating anemia?
Krista McKerracher: Erythropoietin is a protein naturally produced in the kidneys that stimulates red blood cell production. Patients with kidney failure or cancer often become anemic. Recombinant EPO served as replacement therapy, reducing the need for transfusions. It was also used in autologous blood donation before surgery, allowing patients to “bank” their own blood.
Global Marketing and Oncology
Krista McKerracher: In 1996, I moved to New Jersey to join J&J’s International Marketing Group. I worked on global marketing for EPO and partnered with startups on projects, including a blood substitute. These experiences gave me insight into bridging the worlds of big pharma and biotech.
Philip Crowley: How did working with smaller startups differ from your experience in big pharma?
Krista McKerracher: There’s a distinct difference in risk tolerance and focus. Big pharma prioritizes long-term scalability, while startups are more risk-tolerant and resource-constrained. Effective partnerships require understanding these differences and finding common ground.
Transition to Orthoclinical Diagnostics and Novartis Oncology
Krista McKerracher: After my global marketing role, I joined Orthoclinical Diagnostics, a J&J subsidiary in the medical device sector. I managed their plasma fractions business. Ultimately, the business wasn’t viable, so we shut it down.
This led me to my next opportunity at Novartis Oncology, where I continued to focus on oncology innovation.
Novartis and Cultural Differences
Philip Crowley: Tell us about the cultural differences you experienced transitioning from Johnson & Johnson to Novartis. Both are major companies, but what stood out to you?
Krista McKerracher: The companies were very different. Johnson & Johnson is a large U.S. conglomerate, whereas Novartis is Swiss-based. The cultural differences stemmed from their headquarters and leadership. At Novartis, where most senior management was based in Switzerland, there was a structured approach—something we used to joke about, calling Switzerland a place where everything is “either mandatory or forbidden.”
Despite these differences, I loved my time at Novartis. I worked in a small, entrepreneurial unit focused on oncology, with its own CEO and head of development. I was in a global marketing role and managed the worldwide launch of a niche drug for iron overload, which profoundly impacted patients with conditions like thalassemia and sickle cell disease. It was immensely rewarding to bring such a transformational product to market.
Novartis Career Progression
Philip Crowley: What followed your time at Novartis?
Krista McKerracher: I was at Novartis for 14 years, and they offered me an unusual opportunity. David Epstein, the CEO, approached me during a massive development reorganization and tapped me for a franchise head role in development, despite my marketing background. He believed my diverse experience, including time in medical affairs, made me suitable for the challenge.
For the last decade at Novartis, I served as the franchise head for hematology and oncology development, overseeing clinical, regulatory, medical affairs, and other core functions. It was a demanding yet rewarding role that demonstrated the importance of leadership in orchestrating cross-functional teams.
Transitioning from Novartis
Philip Crowley: What led you to leave Novartis?
Krista McKerracher: I reached a point where I no longer loved going to work every day. After doing the same role for a long time, I realized it was time for a change. I opted for early retirement and planned to do some consulting. However, I was introduced to CRISPR Therapeutics and ended up working there for two years, commuting weekly from New York to Boston.
CRISPR Therapeutics and Gene Editing
Philip Crowley: Can you explain CRISPR technology and your work at CRISPR Therapeutics?
Krista McKerracher: CRISPR is a groundbreaking gene-editing tool, often described as “biological scissors.” It allows precise cuts in DNA using a guide sequence to target specific genes. At CRISPR Therapeutics, we focused on curing sickle cell disease and thalassemia.
We used CRISPR to cut a gene that suppresses fetal hemoglobin production after birth. Disrupting this gene reactivates fetal hemoglobin, which alleviates the symptoms of these diseases. I was involved from the IND stage through the first patient treatments in Germany and the U.S. In December 2022, the FDA approved this therapy, marking a transformative step for patients.
Consulting and Board Opportunities
Philip Crowley: After CRISPR, what did you pursue next?
Krista McKerracher: Commuting weekly was exhausting, so I retired again and focused on consulting through my business, Big Advisory. Leveraging my network, I also secured corporate board opportunities. Networking has been invaluable throughout my career—it opens doors to exciting projects and collaborations.
Advice for Aspiring Executives
Philip Crowley: What advice would you give to aspiring executives?
Krista McKerracher: Build a solid foundation and gain diverse experiences, even if it means taking lateral moves. It’s not just about technical skills; leadership and teamwork are crucial. Embrace opportunities outside your comfort zone, as I did when transitioning into development at Novartis.
Stay true to yourself, avoid corporate politics, and maintain genuine relationships. Short-term game-playing might benefit you temporarily, but authenticity and kindness lead to long-term success.
Women in Pharma and Biotech
Philip Crowley: The pharma industry has traditionally been male-dominated. What advice would you give to women aspiring to leadership roles?
Krista McKerracher: The landscape has improved significantly since the 1980s, with more women in senior roles serving as mentors and role models. My advice is to seek diverse experiences, cultivate a strong network, and find mentors who provide honest feedback.
I also volunteer with Springboard, an incubator for female entrepreneurs, which reinforces the importance of mentorship and coaching.
Serving on Corporate Boards
Philip Crowley: How is being a board member different from being in management?
Krista McKerracher: Board members focus on strategy and governance, ensuring the company operates ethically and effectively. You’re a sounding board for the CEO and represent shareholders, particularly in public companies. It’s rewarding but requires a shift from operational responsibilities to a more advisory role.
Nobel Prize Experience
Philip Crowley: Tell us about your experience attending the Nobel Prize ceremony.
Krista McKerracher: It was an incredible opportunity. Donna Strickland, a professor at my alma mater, the University of Waterloo, won the 2018 Nobel Prize in Physics. I was invited to join the university’s team in Stockholm and attended Nobel lectures and events during Nobel Week. It was a once-in-a-lifetime experience.
Conclusion and Final Thoughts
Philip Crowley: Your career exemplifies how hard work, adaptability, and a willingness to take on challenges can lead to success. Thank you, Krista, for sharing your journey and insights.
Outro: This has been the From Lab to Patient, Garage to Market podcast with Phil Crowley. Subscribe, review, and share on all major platforms. For more resources, visit CrowleyLawLLC.com.
