Risk Mitigation With Meira GTx's Zandy Forbes, Ph.D.
Dec 30, 2024
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Zandy Forbes, Ph.D., is the President & CEO of Meira GTx, blending her expertise in molecular genetics and healthcare investing. She shares insights on risk mitigation in biotech, drawing from her dynamic transition from investment banking to leading a gene therapy company. Forbes discusses the challenges of managing personal fears while navigating investment decisions, the significance of strategic planning, and her company’s advancements in innovative treatments for conditions like blindness. Her unique experiences blend science and finance in the high-stakes biotech landscape.
Dr. Zandy Forbes transitioned from academia to hedge fund investment, gaining invaluable insights into risk assessment in biotechnology.
Meira GTx's strategy emphasizes diverse gene therapy development, patient-centric solutions, and in-house manufacturing for effective and accessible treatments.
Deep dives
Transition from Academia to Investment Banking
Dr. Zandi Forbes experienced a significant shift from her academic career in molecular genetics to the world of investment banking, prompted by an unexpected opportunity. Initially focused on research, she was recruited by a hedge fund where her scientific background opened her eyes to the vast possibilities in biotech beyond conventional academia. The exposure to real-world investment strategies and clinical developments broadened her understanding and ultimately changed her career trajectory. At the hedge fund, she learned valuable lessons on risk assessment, especially regarding the emotional highs and lows of investment decisions, a stark contrast to the more exploratory nature of scientific inquiry.
Building a Diverse Pipeline at Mira GTX
At Mira GTX, Dr. Forbes adopted a strategy of developing a diverse pipeline of gene therapy candidates while emphasizing risk mitigation. This involved focusing on local delivery of therapies in immune-protected areas, thereby minimizing the risks associated with systemic delivery methods. The company has been careful to select indications based on their chances of success rather than solely on market size or price. As a result, Mira GTX is pursuing a range of projects that are not only safe and effective but also commercially viable, including innovative treatments for rare diseases in pediatric populations.
Challenges and Advantages of In-House Manufacturing
Mira GTX's decision to establish in-house manufacturing capabilities proved to be both a unique advantage and a complex undertaking. Rather than relying on third-party manufacturers, which often created bottlenecks, the company built its own facilities to ensure faster and more reliable production timelines. This strategic choice has positioned them favorably with regulatory bodies and allowed the company to control rather than outsource critical aspects of their drug development. Ultimately, this decision has led to significant cost savings and a more streamlined process, reinforcing Mira GTX's reputation as a manufacturer and innovator in the biotech field.
Focusing on Social Impact and Regulatory Collaboration
Dr. Forbes emphasizes the importance of social impact in the work of Mira GTX, particularly through the compassionate use of their gene therapy for children with rare genetic disorders. Collaborating closely with regulatory agencies like the FDA, the company seeks to create pathways for patients who may not have alternative treatment options. This focus on patient-centric solutions not only enhances their product portfolio but also fosters a culture of innovation aimed at improving lives. The undertaking represents a shift towards more flexible regulatory practices, potentially paving the way for future advancements in the healthcare industry as they push for accessible therapies.
Zandy Forbes, Ph.D. learned about business risk mitigation in the riskiest of business environments. She was a public markets healthcare investor on Wall Street for well more than a decade. Her hedge fund experience followed the Human Frontiers/Howard Hughes postdoctoral fellowship at the Skirball Institute of Biomolecular Medicine at NYU Langone Medical Center that was preceded by an Oxford Ph.D. in Molecular Genetics. Since 2015, she's been drawing from her immersion in both the business and science disciplines as President & CEO at Meira GTx. On this episode of the Business of Biotech, Dr. Forbes and I go into deep analysis mode as we examine the risks she's taken in her current role, and how she applies her experiences – both good and bad – with handling other people's money to building a biotech company.
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