Read the summary and watch or listen to the interview here: https://www.crowleylawllc.com/podcasts/biotech-insights-advice-with-entrepreneurial-biotech-executive-dr-jahanara-ali/
Introduction to the Podcast
Philip Crowley: Welcome to the From Lab to Patient, Garage to Market podcast. In each episode, we discuss issues important to professionals in the tech startup market. You can find this show on all major platforms, including YouTube, LinkedIn, Facebook, Apple Podcasts, Spotify, and our website, CrowleyLawLLC.com. Our goal is to provide insights into starting and running a company focused on commercializing technology, increasing your chances for success while helping you avoid costly mistakes.
Meet Dr. Jahanara Ali: A Journey into Biotech
Philip Crowley: Today, I’m delighted to have Dr. Jahanara Ali, a life sciences expert with experience in academia, operating companies, and as a venture capital investor. Welcome, Jahan.
Jahanara Ali: Thank you, Phil.
Philip Crowley: How did you end up in biotech?
Jahanara Ali: It wasn’t the plan. I grew up next to hospitals, and my mom was a physician. I spent my childhood curious about what happened inside those buildings. Later, I pursued a PhD in bioscience, but during graduate school, I realized my interest in science didn’t align with the narrow focus of lab work. After completing my PhD, I transitioned into science writing, then licensing at NYU. There, I created marketing summaries for patents, which sparked my interest in biotech innovation. That’s how I got into this space.
From Academia to Industry: Licensing and Technology Transfer
Philip Crowley: What happened after NYU?
Jahanara Ali: After consulting at NYU, I met someone at the BIO meeting who would become my boss at Mount Sinai School of Medicine, where I began my first tech transfer job.
Philip Crowley: What kinds of technologies did you work with at Mount Sinai?
Jahanara Ali: We worked on various technologies, including genetic disorders and protein therapies for rare diseases. I was involved in licensing a GnRH receptor patent, which later became a product marketed by AbbVie for ovarian cancer treatment.
Philip Crowley: That’s fascinating. What did your time at Mount Sinai prepare you for?
Jahanara Ali: After four years, I wanted to experience the constraints of a smaller company. So, I joined Mojave Therapeutics, a startup from Sloan Kettering developing therapeutic vaccines. There, I learned the importance of teamwork in a startup environment.
The Power of Teamwork in Startups
Philip Crowley: How did Mojave differ from Mount Sinai?
Jahanara Ali: At Mojave, everyone contributed their expertise—finance, patents, regulatory—into each deal. It was a great learning experience, especially seeing different perspectives on licensing agreements.
Philip Crowley: That’s a crucial point for startups. What did you learn next?
Jahanara Ali: After Mojave was acquired, I joined the Hospital for Special Surgery (HSS) to lead tech transfer. There, I worked on product development agreements, creating businesses around surgeon-driven innovations, which was a new area for me. I also helped start an orthopedic accelerator.
Philip Crowley: How long were you at HSS?
Jahanara Ali: About four years. I enjoy learning and exploring new challenges, which led me to the Partnership Fund for New York City, where I focused on biotech investments.
Navigating the Biotech Investment Landscape
Philip Crowley: What did you focus on in your biotech investments?
Jahanara Ali: At the Partnership Fund, I helped grow the biotech sector in New York, where despite strong academic resources, early-stage venture funding lagged behind regions like Boston or San Francisco.
Philip Crowley: What should biotech companies focus on when approaching venture capitalists?
Jahanara Ali: It’s essential for companies to demonstrate a strong team, a clear business model, and an understanding of the market.
About Crowley Law
Philip Crowley: Let me introduce Crowley Law. We help life sciences and tech innovators navigate the path from research to commercialization. We assist with company formation, contracts, financing, and collaboration agreements. Visit our website for resources or contact us at [email protected].
Jahanara Ali: When approaching venture capitalists, biotech innovators should ensure they target investors aligned with their stage and focus. For instance, if you’re at Series A, make sure you’re reaching out to investors interested in Series A funding. Also, ensure they focus on your specific field, whether it’s sequencing or another area.
At the top of the funnel, we first assess the team. It’s crucial to have a team that can execute, with integrity and the ability to adapt to setbacks, which are common in early-stage biotech. The team is even more important than technology, especially in digital health, though it remains vital in biotech. Then we look at the technology itself. For biotech, the technology should be sufficiently advanced, with a clear lead product. We also check whether the company has freedom to operate and if the finances make sense. For digital health, we want to see traction, such as pilot results.
Philip Crowley: It sounds like companies should target venture capitalists who are aligned with their stage and area of interest. It’s important to focus on building a strong team with the grit to overcome challenges and setbacks, as investors value dependability. Networking and staying in touch with potential investors also seems critical for building credibility.
Jahanara Ali: Exactly. If you meet an investor, take their advice seriously. If you follow up with results, it builds credibility and trust. It shows you’re dependable and can execute.
Philip Crowley: What advice would you give to biotech and tech entrepreneurs looking to start a company?
Jahanara Ali: First, start with an end in mind. Whether you want to sell your technology in a year or take your company public, knowing your goal will shape your business plan and help measure progress. It also helps you determine if you’re committed and if the project has potential.
Second, if you’re a scientist with no business background, seek mentors. Many people are willing to help for free, and they can bridge gaps in your knowledge. It’s crucial to have people around you who understand business to avoid costly mistakes. A biotech innovator I’m working with exemplifies this—he has a strong team and is aware of his gaps, which has helped him raise money even in tough times.
Philip Crowley: That’s great advice.
Philip Crowley: Thank you so much for sharing your insights, Jahanara. If you enjoyed this podcast, please like, subscribe, and share it with others. For more resources, visit CrowleyLawLLC.com.
Jahanara Ali: Thank you for having me. I really enjoyed it.Philip Crowley: You’ve been listening to the From Lab to Patient, Garage to Market podcast with your host, Phil Crowley. You can find this show on all major platforms, including YouTube, LinkedIn, Apple Podcasts, and Spotify. Please subscribe, like, and share if you found this helpful.
