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Introduction to the Podcast
Voice-Over: Welcome to the From Lab to Patient, Garage to Market podcast with your host, Phil Crowley. In each episode, we discuss professionals serving the tech startup market and the challenges they face. You can find this show on all major platforms, including YouTube, LinkedIn, Facebook, Apple Podcasts, Spotify, and on our website, CrowleyLawLLC.com. Now, here’s your host, Phil Crowley.
Phil Crowley: Welcome, and thank you for tuning in. On this podcast, we have conversations with leaders in the life sciences and tech industries, sharing their experiences to help you, our listeners, learn about things to do, things to avoid, and the interesting paths they’ve taken to get where they are.
Meet Catherine Sohn: A Multifaceted Pharma Executive
Phil Crowley: Today, I’m delighted to welcome Catherine Sohn, a talented pharmaceutical and biotech executive. She is the former worldwide head of business development for SmithKline Beecham, and has served on the boards of both public and private companies. She’s also an adjunct faculty member at the University of California, San Francisco. Catherine, welcome!
Dr. Catherine Sohn: Thank you, Phil. Happy to be here.
Catherine’s Journey into Life Sciences
Phil Crowley: Catherine, how did you get involved in life sciences? Everyone has their own unique path. How did you find your way into this vibrant community?
Dr. Catherine Sohn: It’s actually a personal story. I’m the daughter of a pharmacist, and I grew up seeing how my father was respected in the community, serving as a bridge between physicians and patients, explaining new medicines. I went to UCSF, which was his alma mater, and was trained there. As an intern, I saw how medicines impacted patients’ lives, especially those in clinical research, and how those therapies were developed for unmet medical needs.
Phil Crowley: That’s an interesting background.
Transitioning from Academia to Industry
Phil Crowley: How did you transition from academia to the corporate world?
Dr. Catherine Sohn: After four years as an assistant professor at the Philadelphia College of Pharmacy, I was recruited by SmithKline Beecham, now GlaxoSmithKline. One of the physicians I worked with had moved to SmithKline, and he brought me in to work in medical affairs. It was my academic background, along with the relationships I built outside of my immediate circle, that created the opportunity for that transition.
Phil Crowley: It sounds like even in a technical field like this, the human connections are just as important.
Navigating the Corporate World as a Woman
Phil Crowley: As a woman in what was traditionally a male-dominated industry, what challenges did you face, and how has it changed over the years?
Dr. Catherine Sohn: When I joined SmithKline, they didn’t meet government diversity requirements. I was recruited for a position specifically aimed at improving diversity. The CEO himself sponsored five of us for three years to ensure diversity and help us integrate into the company. It’s a reminder of the importance of sponsors who not only guide you but advocate for you. This is something I’ve always strived to do for others—mentorship and sponsorship are invaluable.
Phil Crowley: It sounds like mentorship plays a huge role. With the younger generation less inclined to come into the office, do you think mentorship opportunities are diminishing?
Dr. Catherine Sohn: It’s a challenge, but it’s also a great opportunity to adapt. Virtual interactions can still lead to valuable mentorship, but you’re right that informal in-person encounters can’t be replicated online. It’s important to build those relationships regardless of the medium.
The 50/50 Rule and Career Growth
Phil Crowley: You mentioned a 50/50 rule for career growth. Can you explain that?
Dr. Catherine Sohn: The 50/50 rule is something I’ve developed over time. For every new position, 50% of it should be something you’re prepared for, where you can hit the ground running. The other 50% should be a challenge—a chance to grow and learn something new. This mindset has helped me transition from clinical pharmacy to business development and beyond. Curiosity and building relationships outside your immediate role are key to growth.
Phil Crowley: It’s like testing your wings for the first time, knowing you have the core skills and confidence to adapt.
Dr. Catherine Sohn: Exactly. Curiosity is key. Asking questions, exploring other functions, and connecting with others in different areas allows you to learn and grow.
Phil Crowley: So, how did you transition from the technical side of the business to the marketing side?
Dr. Catherine Sohn: While I was at the Philadelphia College of Pharmacy, I was part of a task force exploring a potential collaboration with a local business school. That sparked my interest in business. Then, after four years at SmithKline, I was recruited to move into a business development role. My background in medical affairs made me a strong candidate for the position, which required both technical knowledge and a commercial perspective.
Phil Crowley: Fascinating development. Let’s take a moment to tell our listeners a little bit about Crowley Law.
About Crowley Law
Phil Crowley: At Crowley Law, we focus on helping life sciences and tech entrepreneurs turn their ideas into reality—taking innovations from the lab or garage to the marketplace. We understand the challenges faced by scientists and technologists, and we work to help them navigate legal obstacles as they bring their ideas to life. If you have questions about forming companies, licensing technology, or other related areas, reach out to us at [email protected].
Phil Crowley: Catherine, as the global head of business development, what did you enjoy most about that role?
Business Development and New Products
Dr. Catherine Sohn:
My 28-year career at SmithKline French, SmithKline Beecham, and GlaxoSmithKline focused on new products. I enjoyed finding new technologies to extend our current products, licensing in technologies or products to move from prescription to over-the-counter, or acquiring important new products. This work was closely related to my 16 years in the pharmaceutical division, where I launched new products.
One of my most entrepreneurial experiences was building the U.S. vaccine business from scratch, especially during a merger. This role required strategic focus, discipline, and securing financial support. Whether developing products internally in areas like neuroscience and cardiovascular/metabolic, or bringing assets from international businesses, my work involved evaluating opportunities and executing launches. I was driven by recognizing unmet needs, which shaped my career in business development.
Phill Crowley:
Your entrepreneurial experience in building a business within a larger company during a merger shows the importance of relationships and communication. As Daniel Goleman discusses in Emotional Intelligence, those with strong people skills tend to succeed in business. In your consulting work, you’ve likely seen common mistakes smaller companies make. Can you share some of those challenges and how to avoid them?
Dr. Catherine Sohn:
When working with private companies, I emphasize focusing not just on the science, but on the end patient benefit, unmet need, and the competitive landscape. It’s crucial to tell the company’s story clearly, explaining the science, its potential, and how it differs from existing treatments. Honesty about challenges and what potential licensing partners or investors will face is key.
Small companies should focus on two main points for success:
- Building the right team from the start, even with external contractors when necessary.
- Establishing relationships with potential funders and partners early, before you need them.
Phill Crowley:
Building credibility with people you want to work with in the future is vital. Are there warning signs when you evaluate a company, like issues with the management team, scientific team, or board?
Dr. Catherine Sohn:
Red flags often arise when the team has too much of the same expertise. For instance, if the entire team has similar academic backgrounds, they may lack the complementary skills needed for business growth. Investors and partners value teams with diverse skills. First-time entrepreneurs sometimes focus too much on doing everything themselves, which can hinder success. Investors care about both the team and the science, so it’s critical to demonstrate a well-rounded, credible team and a solid scientific rationale.
Phill Crowley:
How important is it for companies, particularly CEOs, to research potential investors?
Dr. Catherine Sohn:
It’s crucial for time management. Many publications rank top investors, detailing their focus areas and investment stages. CEOs should research these investors, understand their investment thesis, and evaluate whether their portfolio aligns with the company’s stage and technology. It’s important to prioritize time with investors who are likely to be interested based on their current portfolio.
Phill Crowley:
It seems matching your pitch to the investor’s interests is important for getting your foot in the door.
Dr. Catherine Sohn:
Yes, and it’s essential to use the same language investors use in their communications, such as quarterly newsletters. This shows you understand their priorities and makes the pitch more relatable.
Phill Crowley:
Is there a significant difference between seeking investment from venture capitalists versus strategic partners like GlaxoSmithKline or Johnson & Johnson?
Dr. Catherine Sohn:
Yes, strategic partners look for opportunities that align with their long-term goals, such as accelerating time to market. For investors, the focus is more on financial return. When pitching to strategic partners, it’s important to align your company’s goals with theirs, particularly regarding timelines and patient benefits. For investors, presenting the financial and development timelines clearly is key.
Phill Crowley:
That’s insightful. Thanks again for sharing your expertise. It’s been a pleasure.Voice-Over:
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