With BioEurope Around the Corner: Are Your Meeting Requests Getting Rejected or Never Answered?

Any business development executive on the out-licensing or sell side will be familiar with the phenomenon. You’ve carefully crafted your messaging, detailing what you can offer, your science is sound, the demand is there you hear time and again, but after sending out 20 meeting requests to potential partners, you remain with 19 out of 20 meeting requests being declined or unanswered.   Why is that? Most business development representatives at pharmaceutical companies come to partnering conferences with a specific mission, for example to find a phase I/II small molecule for a specific cancer indication. If your offering’s description does not immediately fit into that specific bucket or a close adjacency that rings a bell, the likelihood of a meeting is diminished.   What can you do about it? Be really on point: the longer your meeting request, the more the message can get diluted. Especially companies with a platform and a few internal programs tend to have lengthy descriptions explaining all they can do. And thus, a platform to identify novel targets in bladder cancer can suddenly also identify targets in chronic kidney disease, auto-immune related complications, and identify a suitable therapeutic molecule, all while shortening timelines from target to clinic at lower cost and lower risk. In the eye of the beholder, you went from a drug developer with a great technology for a specific program, to a unfocused biotech that never actually advances its programs, or even a service provider. Understand the need: a bit of legwork gets you far. What is the company looking for? If you have a platform for molecules to difficult targets,...