CABS BUSINESS DEVELOPMENT IN LIFE SCIENCES Workshop Recap

Date: June 15, 2024 @ 12:00 am – July 15, 2024
Location: Hanhai Biolabs

Introduction: Bridging the Gap to Commercialization

The CABS BUSINESS DEVELOPMENT IN LIFE SCIENCES workshop part 1, held on June 15th, 2024, in Burlingame, California, brought together over 80 participants from diverse backgrounds (CEOs, VCs, business development professionals, and R&D scientists) to explore the crucial role business development plays in bringing biotech products to market. The high attendance, exceeding capacity, reflects the growing interest in this critical field.

Opening Remarks: A Look at CABS

CABS President Dr. Jessica Sun opened the workshop by welcoming attendees and providing a brief overview of CABS' history and accomplishments. She highlighted past achievements and upcoming events, setting the stage for learning and networking.

Business Development Fundamentals: A Deep Dive

Dr. Jimmy Zhang led the first session, offering a comprehensive overview of business development in the life sciences sector. He delved into business strategies from both the buyer's and seller's perspectives, equipping participants with a well-rounded understanding of the landscape. Dr. Zhang emphasized the crucial skills needed for success in BD, including identifying needs, developing effective negotiation strategies, and adhering to timelines.

Intellectual property (IP) emerged as a critical discussion point. Dr. Zhang stressed the importance of safeguarding IP throughout the business development process. To solidify these concepts, he presented a real-world BD scenario and divided the audience into six working groups. Each group tackled the challenge from their assigned perspective, formulating a BD plan. This interactive exercise fostered lively discussions and encouraged participants to share their insights with the broader community.

Panel Discussion: Insights from the Experts

The workshop transitioned into a dynamic panel discussion led by Jimmy Zhang, Emily Chen, Jay Lin, and Ben Sun, moderated by Lu Lu. The esteemed panelists, each with extensive experience in BD, introduced themselves and their specific areas of expertise. The ensuing discussion was a treasure trove of practical knowledge, as the panelists recounted their experiences in navigating real-world BD cases. They offered valuable advice and insights for aspiring professionals and individuals considering a career in this exciting field.

The audience actively participated, raising their hands and posing a multitude of questions. The panelists responded thoughtfully, leveraging their combined knowledge to ensure everyone received valuable takeaways. The workshop concluded with a sense of shared learning and a renewed appreciation for the multifaceted world of business development in the life sciences.

Networking and Building Connections

The formal sessions concluded with a dedicated networking opportunity. This informal setting allowed attendees to connect with speakers, exchange business cards, and continue discussions sparked throughout the workshop. The enthusiastic exchange of ideas and contact information underscored the value of the workshop in fostering new connections and potential collaborations within the life sciences business development community.

Overall, the CABS BUSINESS DEVELOPMENT IN LIFE SCIENCES workshop served as a valuable platform for professionals at all levels to gain critical knowledge, engage in productive discussions, and connect with industry peers.