The Biotech Startups Podcast

Latest Episodes:

🧬 Kittu Kolluri - Neotribe Ventures - Part 1 | Entrepreneurship as a First-Generation Immigrant | Working & Growing at Silicon Graphics | Learning From Mistakes & Pride of Ownership | The Dangers of Company Microcultures Dec 13, 2023

Show notes

Part 1 of 3.
My guest for this week’s episode is Kittu Kolluri, Founder and Managing Director of Neotribe Ventures, an early- and growth-stage venture capital firm investing in companies that solve hard technical problems and disrupt non-traditional industry sectors. Neotribe is led by a team of serial entrepreneurs with a track record of supporting and advising startups from seed round to IPO.
As a Silicon Valley veteran with a career spanning three decades, Kittu has had numerous roles before his time at Neotribe Ventures. Some highlights include working as an engineer at Silicon Graphics, co-founding Healtheon/WebMD, being the founder and CEO of Neoteris, and investing in over four dozen successful companies as a general partner at NEA.
Join us as we sit down with Kittu to talk about his childhood in Hyderabad and his recollection of the many serendipitous accidents that have occurred in his life. He talks about his experience as a first-generation immigrant getting into entrepreneurship, and the differences between his and his parent’s generation. He also discusses how he got into computer science, his time at Silicon Graphics, and his opinion on why culture can make or break a startup. Please enjoy my conversation with Kittu Kolluri.
Find Our Guest, Kittu Kolluri, at these links:
https://www.linkedin.com/in/kittukolluri/
https://www.neotribe.vc/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:51 Episode starts, Kittu’s childhood in Hyderabad, India, recognizing accidental influences in his life
06:10 The difficulties of taking the entrepreneurial risk as a first-generation immigrant
08:50 The differences in outlook between his parent’s generation and his generation
10:18 Choosing to studying mechanical engineering, ending up at SUNY Buffalo
12:52 Studying operations research, getting exposure to computer science, benefits of multidisciplinary exposure
16:35 Working at Silicon Graphics, falling in love with being a software engineer
20:48 Dealing with a company’s rapid growth, learning from your mistakes
24:05 Pride of ownership, mentors and colleagues who influenced Kittu
28:37 Being a student for life, the definition of trust in a team
30:17 Why startups can beat large companies, the dangers of microcultures in a company, company culture’s importance
34:02 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:

Topics Mentioned:
Staffing Your Startup https://www.excedr.com/blog/staffing-your-startup
Writing a Business Plan https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs
What Is Startup Valuation https://www.excedr.com/resources/startup-valuations
Biotech Funding for Startups https://www.excedr.com/resources/biotech-startup-funding-options
Bootstrapping Your Biotech Startup https://www.excedr.com/resources/how-to-bootstrap-biotech-startup
Silicon Graphics https://en.wikipedia.org/wiki/Silicon_Graphics
Grant Funding for Biotech Startups https://www.excedr.com/resources/grants-public-funding-biotech-startups
Naming Your Startup https://www.excedr.com/resources/naming-your-startup
Pre-Money vs. Post-Money https://www.excedr.com/resources/pre-money-vs-post-money
Should You Incorporate in Delaware https://www.excedr.com/resources/incorporating-your-biotech-startup
People Mentioned:
Shankar Srinivasan https://www.linkedin.com/in/srinivasanshankar/
Jim Clark https://en.wikipedia.org/wiki/James_H._Clark
Pavan Nigam https://www.linkedin.com/in/pavannigam/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Fengru Lin - TurtleTree - Part 3 | The Value of Early HR for Company Building | Creating a People-First Work Culture | Refocusing to Reach Commercialization Sooner | Navigating Seed Series Fundraising Dec 06, 2023

Show notes

Part 3 of 3.
My guest for this week’s episode is Fengru Lin, Founder and CEO of TurtleTree, a biotech company revolutionizing food for good. Having raised a 40 million dollar Series A, TurtleTree is creating cell-based milk, with a current focus on releasing LF+, the world’s first sustainably produced lactoferrin made with cutting-edge precision fermentation technology.
Prior to TurtleTree, Fengru worked at UL, Salesforce, and Google, gaining a tremendous amount of experience in sales and business development. Her breadth of experience makes her insights invaluable to life science companies looking to create opportunities for themselves in their verticals.
Join us as we sit down with Fengru to talk about TurtleTree’s early days and how focusing on HR early was crucial to their success. She talks about creating a people-first work culture and how having a business-centric leadership team can be advantageous. She also discusses her experience refocusing TurtleTree’s efforts to reach earlier commercialization and touches on navigating fundraising for series A and B in volatile markets. Please enjoy my conversation with Fengru Lin.
Find Our Guest, Fengru Lin, at these links:
https://www.linkedin.com/in/fengru
https://www.turtletree.com
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:13 Episode starts, TurtleTree’s vision and mission, building TurtleTree’s team and focusing on HR early
03:42 Creating a people-first company culture, the importance of a business-centric leadership team
06:34 TurtleTree’s pivot to creating lactoferrin to commercialize earlier rather than later
10:12 The idea of refocusing on something new vs pivoting completely
12:03 Planning go-to-market strategy and commercialization efforts, understanding market fluctuations
16:02 Navigating fundraising for TurtleTree, tips and tricks for fundraising efforts, raising Series B funding
18:27 Biggest challenges and triumphs for TurtleTree, empowering your team to get their buy-in
23:14 What is in store for TurtleTree in the next couple of years
26:06 Fengru’s shout-outs, advice to her 21-year-old self
27:35 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com
Enriched Notes:
Topics Mentioned:
TurtleTree https://www.turtletree.com
Staffing Your Startup https://www.excedr.com/blog/staffing-your-startup
Abbott Laboratories https://en.wikipedia.org/wiki/Abbott_Laboratories
Fonterra https://en.wikipedia.org/wiki/Fonterra
Precision Fermentation https://en.wikipedia.org/wiki/Industrial_fermentation#Precision_fermentation
Lactoferrin https://en.wikipedia.org/wiki/Lactoferrin
Gross Margin https://en.wikipedia.org/wiki/Gross_margin
Lab Equipment Leasing https://www.excedr.com/leasing
Bioreactors https://www.excedr.com/general-lab-equipment/bioreactor
Choosing & Collaborating with a CMO https://www.excedr.com/blog/contract-manufacturing-organizations
Financial Modeling & How Can It Help with Fundraising https://www.excedr.com/resources/what-is-financial-modeling
What Is Due Diligence https://www.excedr.com/resources/what-is-due-diligence
What Is Series A, B, & C Funding https://www.excedr.com/resources/series-funding-explained
What Is Patent Licensing https://www.excedr.com/resources/how-patent-licensing-works
Intellectual Property 101 https://www.excedr.com/resources/intellectual-property-guide
Understanding Intellectual Property Rights https://www.excedr.com/resources/intellectual-property-rights-for-biotechs
IFT https://en.wikipedia.org/wiki/Institute_of_Food_TechnologistsThe Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Fengru Lin - TurtleTree - Part 2 | Salesforce’s Customer-Centric Sales Motion | The Value of Knowing Your Audience in Every Conversation | Why Executive Buy-In Matters | How a Hobby Led to TurtleTree’s Founding Idea Nov 29, 2023

Show notes

Part 2 of 3.
My guest for this week’s episode is Fengru Lin, Founder and CEO of TurtleTree, a biotech company revolutionizing food for good. Having raised a 40 million dollar Series A, TurtleTree is creating cell-based milk, with a current focus on releasing LF+, the world’s first sustainably produced lactoferrin made with cutting-edge precision fermentation technology.
Prior to TurtleTree, Fengru worked at UL, Salesforce, and Google, gaining a tremendous amount of experience in sales and business development. Her breadth of experience makes her insights invaluable to life science companies looking to create opportunities for themselves in their verticals.
Join us as we sit down with Fengru to talk about her experience doing sales and business development at Salesforce. She talks about the success of placing the customer at the core of the sales motion, the importance of the 90/10 rule, and the value of knowing your audience in every conversation you have.
She also discusses the importance of executive buy-in, shares her thoughts on innovation enabling other parts of your org, explains how the idea for TurtleTree came about, and tells us the story of how she met her co-founder. Please enjoy my conversation with Fengru Lin.
Find Our Guest, Fengru Lin, at these links:
https://www.linkedin.com/in/fengru/
https://www.turtletree.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:10 Episode starts, going to Salesforce, the customer as the core of the sales motion
05:44 How to do sales, the difference between early sale and sales at scale
08:07 The 90/10 rule of sales and its application to fundraising, dealing with rejection in sales and business development
09:50 Mentors from Salesforce, the importance of knowing your audience in every conversation
11:26 Getting executive buy-in, innovation is there to enable other parts of the organization
14:43 How Fengru’s cheesemaking hobby sparked TurtleTree’s creation, meeting co-founder
17:12 The power of simply talking to experts, founding TurtleTree and bootstrapping at the start
19:38 Advice for filing the patents, working off of existing technology
21:03 The complexity of milk, the difficulties of reaching commercialization, finding the right partners
23:02 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:

Topics Mentioned:

Salesforce https://www.salesforce.com/
Marketing & Sales Strategies for Startups https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs
Software Tools https://www.excedr.com/blog/tools-for-keeping-startup-costs-in-check
Getting Funding for Lab Research https://www.excedr.com/blog/how-to-get-funding-for-lab-research
TurtleTree https://www.turtletree.com/
Bootstrap Your Biotech Startup https://www.excedr.com/resources/how-to-bootstrap-biotech-startup
Seed Funding Explained https://www.excedr.com/resources/seed-round-funding-explained
Startup Valuation https://www.excedr.com/resources/startup-valuations
VC Term Sheets https://www.excedr.com/resources/venture-capital-term-sheets
What Is Patent Licensing https://www.excedr.com/resources/how-patent-licensing-works
Intellectual Property 101 https://www.excedr.com/resources/intellectual-property-guide
Understanding Intellectual Property Rights https://www.excedr.com/resources/intellectual-property-rights-for-biotechs
How to Protect Your IP https://www.excedr.com/resources/how-to-protect-your-intellectual-property
Intellectual Property Strategy https://www.excedr.com/resources/intellectual-property-strategy-for-biotechs
People Mentioned:
Max Rye https://www.linkedin.com/in/maxrye/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

Show notes

Part 1 of 3.
My guest for this week’s episode is Fengru Lin, Founder and CEO of TurtleTree, a biotech company revolutionizing food for good. Having raised a 40 million dollar Series A, TurtleTree is creating cell-based milk, with a current focus on releasing LF+, the world’s first sustainably produced lactoferrin made with cutting-edge precision fermentation technology.
Prior to TurtleTree, Fengru worked at UL, Salesforce, and Google, gaining a tremendous amount of experience in sales and business development. Her breadth of experience makes her insights invaluable to life science companies looking to create opportunities for themselves in their verticals.
Join us as we sit down with Fengru to talk about her upbringing in Hong Kong and Singapore and her time in the Girl Guides. Fengru talks about how her early love of planning helped hone her operational management skills as an adult.
We also cover her thoughts on the value of business people for their ability to connect the dots and communicate ideas effectively. Lastly, Fengru talks about graduating college, her internship at Nestle, and how her first job out of college at Collis Asia taught her about the importance of QA/QC. Please enjoy my conversation with Fengru Lin.
Find Our Guest, Fengru Lin, at these links:
https://www.linkedin.com/in/fengru/
https://www.turtletree.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:43 Episode starts, Fengru’s upbringing in Hong Kong, being self-reliant and determined, joining Girl Guides
04:00 How loving planning helped hone operational management skills as a child
05:40 Going to Singapore Management University, diving into tech as the internet boomed
07:27 The value of business people connecting the dots and communicating between individuals
11:24 Summer jobs, internship at Nestle, learning what you want and don’t want in your career
14:04 Getting a job at Collis Asia after college, learning about QA/QC and how it is still an applied skill
16:07 Going into international sales and business development, empowering your team
19:22 Traveling internationally, learning about cultural differences in business
21:28 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Girl Guides https://en.wikipedia.org/wiki/Girl_Guides
Daiwa https://en.wikipedia.org/wiki/Daiwa_Securities_Group
Nestle https://en.wikipedia.org/wiki/Nestl%C3%A9
What Should Investors & Founders Expect https://www.excedr.com/resources/investor-founder-expectations
Write a Lean Business Plan https://www.excedr.com/resources/how-to-write-lean-business-plan
Write a Business Plan https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs
What Is Cash Runway https://www.excedr.com/blog/what-is-cash-runway
UL https://en.wikipedia.org/wiki/UL_(safety_organization)
Loan Covenants & Their Effects https://www.excedr.com/resources/loan-covenants-and-their-effects
Blanket Liens & Their Effects https://www.excedr.com/resources/blanket-liens-and-their-effects The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Sandy Paige - Seabright Ventures Fund - Part 4 | Creating Competitive Moats | Leveraging Financing Opportunities for Growth | The Purpose of a Board of Directors | Ambiguity as an Asset & Avoiding the Bias Toward Action Nov 15, 2023

Show notes

Part 4 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech.
Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million. Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about creating and finding competitive moats, and how Explora Biolabs leaned into a creative financing opportunity to grow. Sandy also discusses the importance of solving problems in unconventional ways.
We cover his thoughts on how a board of directors finds its purpose in keeping the CEO in check and the healthy tension that exists in that balance. Lastly, Sandy touches on the qualities he attributes his success to, as well as offering advice to his 21-year-old self that everyone can benefit from hearing. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:20 Episode starts, Explora Biolabs’ contract research, technical staffing, renting vivarium rooms
03:26 Creating competitive moats, unique financing opportunities as a business model
07:03 Learning to negotiate his position and mitigate risk, solving problems unconventionally
10:55 Maintaining profitability and the board’s purpose to keep the CEO in check
13:28 Getting acquired by Charles River, finding the right timing to exit
17:44 Tips for those looking to get acquired, taking your time with the decision
18:50 Sandy’s attributes to success: humility, a great team, personal hustle, ambiguity as an asset
22:14 What Sandy and the Seabright Ventures Fund are up to in the next couple of years
25:18 Sandy’s advice to his 21-year-old self: work with interesting people doing interesting things with integrity
27:16 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Explora Biolabs https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-expl
ora-biolabs
Choosing & Collaborating with a CRO https://www.excedr.com/blog/contract-research-organizations
Choosing & Collaborating with a CMO https://www.excedr.com/blog/contract-manufacturing-organizations
How Do Core Labs Support Life Science Research https://www.excedr.com/blog/core-labs
Biotech Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-research
Managing Your Capital: Equipment Leasing vs. Traditional Financing https://www.excedr.com/resources/equipment-leasing-vs-traditional-financing
Equipment Leasing vs. Financing https://www.excedr.com/blog/equipment-leasing-vs-financing
Series A, B, & C Funding https://www.excedr.com/resources/series-funding-explained
Seabright Ventures Fund https://seabrightventuresfund.com/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Sandy Paige - Seabright Ventures Fund - Part 3 | Managing International Distribution | Meaningful Work & Personal Buy-In as a Form of Equity | Getting Into Business Development & The Importance of Sales Experience | Starting & Running a Search Fund Nov 08, 2023

Show notes

Part 3 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech. Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million.
Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about his experience managing international distribution at The Jackson Laboratory. Sandy also discusses how meaningful work and personal buy-in are important forms of equity. We cover his thoughts on how business development is different from sales and his advice on getting your start in BD.
Lastly, Sandy touches on leaving The Jackson Laboratory to start a search fund, his success in doing so, and the initial stages of his acquisition of Explora Biolabs. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:00 Intro
01:01 Episode starts, managing international distribution at The Jackson Laboratory
03:32 The Jackson Laboratory and cancer research, personal buy-in as a form of equity
06:08 Advice on business development, starting in sales, and the benefits of that experience
10:20 The importance of learning about sales, and business development as “everyone’s job”
13:38 Leaving The Jackson Laboratory, raising a search fund
16:12 Learning about search funds, raising the fund at age 48
18:50 Finding Explora Biolabs, the prevalence of VC money in biotech companies, finding a good business “fit”
21:50 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:

Topics Mentioned:

The Jackson Laboratory https://www.jax.org/
Marketing & Sales Strategies https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs
Intellectual Property 101 https://www.excedr.com/resources/intellectual-property-guide
Understanding Intellectual Property Rights https://www.excedr.com/resources/intellectual-property-rights-for-biotechs
How to Protect Your Intellectual Property https://www.excedr.com/resources/how-to-protect-your-intellectual-property
Life Sciences Licensing Agreements https://www.excedr.com/blog/life-sciences-licensing-agreements-guide
Patent Licensing & How It Works https://www.excedr.com/resources/how-patent-licensing-works
Search Fund https://en.wikipedia.org/wiki/Search_fund
Explora Biotech https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-explora-biolabs
What Is Secured Debt https://www.excedr.com/blog/what-is-secured-debt
Understanding Debt & Equity Funding Options https://www.excedr.com/resources/debt-equity-options-funding-startup The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

Show notes

Part 2 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech. Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million.
Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about his experience practicing corporate entrepreneurship after getting his MBA. Sandy also discusses how his time as a general manager of a paper mill taught him life lessons about people and led to his commitment toward treating them in a way he’ll never regret.
We cover his move from the East Coast to the West Coast, where he took up a position at The Jackson Laboratory, and where he learned to scale a non-profit aggressively. Lastly, Sandy touches on when to be frugal and when to spend, the 3-5 important decisions per year that CEOs make, and how crucial a good team is to running a successful business. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:00 Intro
01:04 Episode starts, joining CIANBRO after getting his MBA, practicing corporate entrepreneurship
05:18 Starting consulting, becoming a general manager of a paper mill
10:10 Life lessons taken away from his experience, treating people in a way you’ll never regret
13:08 Finding an industry that has margin and growth instead of being a commodity
16:07 Moving from the East to the West coast and joining The Jackson Laboratory, managing a very different team of people
18:40 Managing employee churn, understanding cultural differences after the move
21:33 Hiring and scaling effectively at an enormous non-profit company
24:45 Choosing when to spend vs when to be frugal, over-capitalizing things that are mission-critical
27:23 Making the most important decisions, a good team is a critical component for success
29:42 CEOs make 3-5 important decisions per year, most of those are hiring people, pattern recognition
34:11 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
CIANBRO https://www.cianbro.com/
Knight-Celotex https://en.wikipedia.org/wiki/Celotex
Employment Agreements https://www.excedr.com/resources/understanding-employment-agreements
How & When to Fire Someone https://www.excedr.com/resources/how-and-when-to-fire-someone
The Jackson Laboratory https://www.jax.org/
Staffing Your Startup https://www.excedr.com/blog/staffing-your-startup
Leasing & Financing https://www.excedr.com/category/leasing-financing
Cost of Capital https://www.excedr.com/blog/cost-of-capital
Loan Covenants https://www.excedr.com/resources/loan-covenants-and-their-effects
Understanding Debt & Equity Funding https://www.excedr.com/resources/debt-equity-options-funding-startup
Equipment Lease vs Loan https://www.excedr.com/blog/equipment-lease-vs-loan
Explora Bio https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-explora-biolabs
Intellectual Property Strategy https://www.excedr.com/resources/intellectual-property-strategy-for-biotechs
People Mentioned:
Chuck Hewett https://www.linkedin.com/in/chuckhewett/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Sandy Paige - Seabright Ventures Fund - Part 1 | The Value of Hustle & Being a Team Player | Saying Yes to Opportunities | Corporate Entrepreneurship & Finding Your Path | Entrepreneurs & Risk Aversion Oct 25, 2023

Show notes

Part 1 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech. Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million dollars.
Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about his childhood watching his father as a CEO, and how he learned to leverage his hustle and found value as a team player. Sandy also discusses the benefits of multifaceted education and how a wide range of experiences can lead to more opportunities. Lastly, we cover his time going from politics to industry, his journey to getting an MBA, and his path into corporate entrepreneurship.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Timestamps:
00:00 Intro
01:56 Episode start, Sandy’s childhood growing up in Maine, watching his father as a CEO
04:53 Deciding not to become a zero-to-one entrepreneur, the value of hustling and being a team player
07:05 The benefits of a multi-disciplinary liberal arts education and of having a varied background of experiences
09:41 Taking the opportunities provided and taking things job-by-job, how a letter led to a job opportunity
13:20 Working for Angus King, following up on things people recommend and saying yes at critical moments
18:42 Moving into industry, going to Fairchild Semiconductor, getting an MBA
23:16 Benefits of exposure to broader business operations, corporate entrepreneurship as a career path
26:43 Entrepreneurship as risk aversion, managing risk-return profiles to find a path
28:35 Outro
Enriched Notes:
Topics Mentioned:
Entrepreneurship https://www.excedr.com/category/entrepreneurship
Liberal Arts Education https://en.wikipedia.org/wiki/Liberal_arts_education
Laboratory Management https://www.excedr.com/category/laboratory-management
Minimize Overhead Costs https://www.excedr.com/blog/how-to-minimize-overhead-costs
Managing the Impact of Rising Interest Rates & Inflation https://www.excedr.com/blog/how-to-manage-the-impact-of-rising-interest-rates-and-inflation
Explora Biolabs https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-explora-biolabs
Salzburg Seminar for American Studies https://www.salzburgglobal.org/multi-year-series/american-studies
Bath Iron Works https://en.wikipedia.org/wiki/Bath_Iron_Works
Fairchild Semiconductor https://en.wikipedia.org/wiki/Fairchild_Semiconductor
VC Term Sheet Glossary https://www.excedr.com/resources/vc-term-sheet-clauses-and-terms
Writing a Startup Business Plan https://www.excedr.com/resources/how-to-write-a-business-plan-for-biotechs
Business Entities & Their Differences https://www.excedr.com/resources/what-are-the-differences-between-business-entities
Babson College https://www.babson.edu/
Funding an R&D Startup https://www.excedr.com/resources/rd-startup-funding-first-steps
People Mentioned:
Buzz Fitzgerald https://www.c-span.org/person/?36913/BuzzFitzgerald
Angus King https://www.king.senate.gov/The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Maneesh Jain - Mirvie - Part 3 | Finding & Addressing Unmet Needs | The Maternal Health Crisis | Creating an Empathy-Focused Company Culture | Fundraising & Hitting Milestones in a Recession Oct 18, 2023

Show notes

Part 3 of 3.
My guest for this week’s episode is Maneesh Jain, CEO and Co-Founder of Mirvie, a life science company that predicts pregnancy complications before they happen by revealing the underlying biology of pregnancy health. Mirvie is dedicated to shaping the future of pregnancy health through simple, personalized blood tests. Before Mirvie, Maneesh was a founder, CEO, or executive of five successful start-ups, which include Parallele Bioscience, Auriphex Bioscience, Ion Torrent, Butterfly Network, and Cirina.
All of the businesses successfully exited or commercialized to the likes of Affymetrix, Illumina, Life Technologies, the FDA, and GRAIL, respectively. Join us as we sit down with Maneesh to talk about how finding the biggest unmet need led to the founding of Mirvie after leaving GRAIL.
Maneesh also discusses the maternal health crisis and the state of the market for pregnancy health. We also cover his thoughts on how to create an empathy-centric culture that balances being collaborative and understanding with achieving aggressive goals. Lastly, Maneesh discusses the intricacies of fundraising during recessions and the critical importance of hitting milestones, especially the ones investors value most. Please enjoy my conversation with Maneesh.
Find Our Guest, Maneesh Jain, at these links:
https://www.linkedin.com/in/maneesh-jain-2509388/
https://www.mirvie.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Timestamps:
00:00 Intro
01:43 Episode start, founding Mirvie after leaving GRAIL, finding the biggest unmet need
04:08 Detecting abnormal developments during pregnancy, the state of the market for pregnancy medicine
07:23 The maternal health crisis and working to resolve it, finding safe methods of diagnosis
09:04 Creating a collaborative and supportive environment with aggressive goals, empathy as a core value
11:55 Fundraising during recessions, hitting your milestones, and creating/proving your own value
14:08 Finding milestones investors value most, the importance of asking “why” for prioritization
17:16 What’s in store for Mirvie in the next year or two, shifting paradigms for pregnancy health
20:20 Shoutouts to people who have supported Maneesh over the years
22:29 Advice to a 21-year-old self, self and team success are the same thing
24:37 Outro
Enriched Notes:

Topics Mentioned:
GRAIL https://grail.com/
Mirvie https://www.mirvie.com/
Hematology Analyzers https://www.excedr.com/clinical-equipment/hematology-analyzer
Medical Imaging https://www.excedr.com/blog/medical-imaging-and-radiology-overview
New Drug Applications https://www.excedr.com/blog/ind-application-process
FDA Drug Approval Process https://www.excedr.com/blog/fda-drug-approval-process-guide
Clinical Trials https://en.wikipedia.org/wiki/Clinical_trial
Principal Investigator https://en.wikipedia.org/wiki/Principal_investigator
Series A, B, & C Funding https://www.excedr.com/resources/series-funding-explained
Funding Options for Startups https://www.excedr.com/resources/biotech-startup-funding-options
What Is a Seed Round https://www.excedr.com/resources/seed-round-funding-explained
Bootstrapping Your Biotech Startup https://www.excedr.com/resources/how-to-bootstrap-biotech-startup
Invert (Charlie Munger Model) https://modelthinkers.com/mental-model/inversion
Stanford Genome Technology Center https://med.stanford.edu/sgtc.html
Affymetrix https://en.wikipedia.org/wiki/Affymetrix
People Mentioned:
Charlie Munger https://en.wikipedia.org/wiki/Charlie_Munger
Maya Angelou https://en.wikipedia.org/wiki/Maya_Angelou The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

🧬 Maneesh Jain - Mirvie - Part 2 | Company Size & Innovation | Supply Chain Learnings from Other Industries | Scaling Go-to-Market Strategies | Culture’s Interaction with Mergers & Acquisitions Oct 11, 2023

Show notes

Part 2 of 3.
My guest for this week’s episode is Maneesh Jain, CEO and Co-Founder of Mirvie, a life science company that predicts pregnancy complications before they happen by revealing the underlying biology of pregnancy health. Mirvie is dedicated to shaping the future of pregnancy health through simple, personalized blood tests.
Before Mirvie, Maneesh was a founder, CEO, or executive of five successful start-ups, which include Parallele Bioscience, Auriphex Bioscience, Ion Torrent, Butterfly Network, and Cirina. All of the businesses successfully exited or commercialized to the likes of Affymetrix, Illumina, Life Technologies, the FDA, and GRAIL, respectively.
Join us as we sit down with Maneesh to talk about having the confidence to learn new things outside your comfort zone and how it is likely to be a core skill for future generations. Maneesh also discusses leveraging learnings from the semiconductor industry's supply chain to find new paths to innovation.
Lastly, we cover his thoughts on how to maintain culture when going through mergers and acquisitions, and how using the power of liquid biopsies led to his success at Cirina and later Mirvie. Please enjoy my conversation with Maneesh.
Find Our Guest, Maneesh Jain, at these links:
https://www.linkedin.com/in/maneesh-jain-2509388/
https://www.mirvie.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Timestamps:
00:00 Intro
01:38 Episode start, starting Aurifex BioScience, company scale and its effect on innovation
04:38 Getting out of your comfort zone, having the confidence to learn something new
06:29 Going to Ion Torrent, leveraged learnings from supply chains in the semiconductor industry
09:58 Scaling a team and designing go-to-market strategies as the first commercial hire
13:30 Acquisitions and mergers, keeping culture intact when having a partner company
15:25 Butterfly Network, clinical applications of using ultrasounds on a chip, democratizing technology
19:24 Working with the FDA, founding Cirina and the power of liquid biopsies
22:36 Early detection of cancer, building teams across the world
25:54 Biggest challenges and triumphs at Cirina, global applications of clinical studies
27:44 Outro
Enriched Notes:
Topics Mentioned:
Stanford Genome Technology Center https://med.stanford.edu/sgtc.html
Bootstrapping Your Startup https://www.excedr.com/resources/how-to-bootstrap-biotech-startup
Illumina https://www.illumina.com/
DNA Sequencing with Illumina https://www.excedr.com/blog/featured-manufacturer-illumina
Next Generation Sequencing https://www.excedr.com/biotech-life-sciences/ngs-next-generation-sequencers
NGS Overview https://www.excedr.com/blog/next-generation-sequencing-101
454 Life Sciences https://en.wikipedia.org/wiki/454_Life_Sciences
Medical Imaging https://www.excedr.com/blog/medical-imaging-and-radiology-overview
FDA https://www.fda.gov/
Cirina/GRAIL https://grail.com/press-releases/grail-and-cirina-combine-to-create-global-company-focused-on-early-detection-of-cancer/
Lab Equipment https://www.excedr.com/blog/medical-lab-equipment-list
People Mentioned:
Mostafa Ronaghi https://www.linkedin.com/in/mostafa-ronaghi-505440/
Jonathan Rothberg https://en.wikipedia.org/wiki/Jonathan_Rothberg
Min Cui https://www.linkedin.com/in/min-cui-64bb178/ The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

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