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A perennial question for small biopharmas is how to engage w/ scientific advisors. One caution is not to list as "advisors" people w/ whom you've had only one or two convos, or who don't really understand or support your platform. Formalizing an SAB can be a way to make...1/6
...sure those you consider "advisors" are comfortable being identified as such. Presumably you'll also get more value out of a formal SAB. But proceed w/ caution in terms of how often the SAB meets; I've seen co's put more time and energy into preparing for these than for...2/6
...board meetings. It's critical to review your SAB structure & mtg frequency at least yearly, & be flexible as the co.'s needs may change (over time you may also want to form a Clinical Advisory Board, reduce # of formal SAB mtgs. to focus more on one-on-one mtgs., change...3/6
...out membership, etc.) Scientific founders occupy a special role in the co's development & should be engaged as much as possible. The IP issues should be addressed early - e.g., taking care not to publish before IP is filed; whether the co. will have a first look at new...4/6
...technology, compounds, programs coming out of the founder's lab, etc. External advisors (like independent board members) should be evaluated not just on what they know / study / publish on, but also on how useful they are in giving feedback on YOUR programs. Knowledge...5/6
...doesn't always translate into someone being value-added. That being said, some luminaries are always going to add to the stature of your organization (again, as long as they actually know / like what you're doing!) 6/6
