PURPOSE OF POSITION: Serving as a business partner to faculty, lead the assessment, product development, acceleration and de-risking of a select number of Cincinnati Children's most promising medical device and diagnostic programs towards commercialization, with a specific emphasis on translational value creation. Aggregate stakeholders (institutional, industry, investors, foundations, government, etc.) around projects to accelerate their development. Approach projects from an entrepreneurial perspective, closely monitoring during the incubation and acceleration phase.
·Commercial Strategy & Planning
Utilizing critical thinking skills, responsible for assessing the commercial potential of only the highest value and impact medical device and diagnostic programs and developing a strategy and product plan to advance those programs to a value inflection point and commercial exit (license to existing company, new venture formation, etc.). Work with researchers, clinicians, internal, and external advisors to ensure plan is scientifically, clinically, and commercially sound.
Responsible for creating a project-specific funding strategy. Identifying and applying for commercially-relevant funding opportunities (non-dilutive) to support the product development. Source funding opportunities from the institution, state programs, federal programs, foundations, philanthropists, medical device and diagnostic companies, and venture funds. Explore and develop creative funding strategies to advance projects.
Execute on the product development plan and funding strategy to accelerate the assets towards a commercial endpoint. Actively participate and lead the project, aligning stakeholders along the way, to ensure project is hitting milestones.
·Business Development / Market Insights
Build knowledge of and relationships with appropriate partners and industries for effective partnering - industry feedback, research collaborations, licensing, etc. Develop and manage synergistic partnerships and collaborations with stakeholders to advance projects.
In partnership with the Portfolio Manager and Directors, participate in due diligence, negotiations, and agreement development/management to ensure the interests of the institution are upheld. Liaise with internal and external counsel when appropriate.
·Patent Portfolio Strategy
In partnership with the Patent Manager and Portfolio Manager, participate in patent strategy by providing technology and commercial insight so the Patent Manager can consider and lead implementation of overall strategy to ensure highest value patents.
Skills & Competencies
Ability to apply critical thinking skills to process and manage a portfolio of technologies, contracts, and patents that result in valuable intellectual property and commercialized products
Excellent communication skills and the ability to work with others in a respectful and tactful manner
Ability to prepare business plans and financial forecasts in support of investment opportunities
·Knowledge of Field
Advanced knowledge of regulations, procedures, and best practices in field
Using time efficiently and productively; prioritizing multiple tasks properly to meet deadlines; recognizing time constraints and adjusting work schedule to address them
Persistently shaping the thoughts and actions of others to achieve desired results; generating excitement and continuously striving to gain support for one's ideas, plans, or courses of action
·Bachelor Degree in Engineering OR Biomedical Science OR Related Discipline
·Advanced degree in engineering, biomedical sciences, business, or related discipline
·7-10 years of medical device and/or diagnostic experience (product development, regulatory and commercialization)
·Relevant industry and/or entrepreneurial experience Preferred:
·Experience working for a medical device or diagnostic company
·Experience working in a large biomedical research institution
·MBA or PhD or MD