I’ve been working with life science, pharma and biotech CEOs to build their board teams for over 20 years, and it’s at this level that most of the challenges and opportunities lie.
For unprepared businesses, there’s a real risk of poor corporate governance due to a lack of relevant experience on the board. Decisions made in the coming months relating to corporate debt and financial strategy could be make or break. During a lockdown scenario, full due diligence on both sides of the investment equation is much more difficult. There’s going to be a lot of pressure on company leadership to make all the right decisions in the coming months.
But there are opportunities. Collaboration was a big theme at BioTrinity 2020. New and better ways of working have been “forced” upon some! The more collegiate approach between government bodies, NGOs and the industry that we have seen here in the UK is a huge positive impact.
Finally, the industry’s reaction to COVID-19 has shown everyone that we have amazing talent developing amazing technology for the benefit of everyone. We’re privileged to be part of a sector that can mobilise and contribute, and I saw that spirit alive and well at BioTrinity, even if it was only virtually this year!
Sue Rees is an expert C-Suite executive search specialist with over 25 years of experience in Pharma, Biotech, Lifesciences etc.