The Biotech Startups Podcast 🧬 Sandy Paige - Seabright Ventures Fund - Part 4 | Creating Competitive Moats | Leveraging Financing Opportunities for Growth | The Purpose of a Board of Directors | Ambiguity as an Asset & Avoiding the Bias Toward Action
Nov 15, 2023
29:11
Part 4 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech.
Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million. Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about creating and finding competitive moats, and how Explora Biolabs leaned into a creative financing opportunity to grow. Sandy also discusses the importance of solving problems in unconventional ways.
We cover his thoughts on how a board of directors finds its purpose in keeping the CEO in check and the healthy tension that exists in that balance. Lastly, Sandy touches on the qualities he attributes his success to, as well as offering advice to his 21-year-old self that everyone can benefit from hearing. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:20 Episode starts, Explora Biolabs’ contract research, technical staffing, renting vivarium rooms
03:26 Creating competitive moats, unique financing opportunities as a business model
07:03 Learning to negotiate his position and mitigate risk, solving problems unconventionally
10:55 Maintaining profitability and the board’s purpose to keep the CEO in check
13:28 Getting acquired by Charles River, finding the right timing to exit
17:44 Tips for those looking to get acquired, taking your time with the decision
18:50 Sandy’s attributes to success: humility, a great team, personal hustle, ambiguity as an asset
22:14 What Sandy and the Seabright Ventures Fund are up to in the next couple of years
25:18 Sandy’s advice to his 21-year-old self: work with interesting people doing interesting things with integrity
27:16 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Explora Biolabs https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-expl
ora-biolabs
Choosing & Collaborating with a CRO https://www.excedr.com/blog/contract-research-organizations
Choosing & Collaborating with a CMO https://www.excedr.com/blog/contract-manufacturing-organizations
How Do Core Labs Support Life Science Research https://www.excedr.com/blog/core-labs
Biotech Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-research
Managing Your Capital: Equipment Leasing vs. Traditional Financing https://www.excedr.com/resources/equipment-leasing-vs-traditional-financing
Equipment Leasing vs. Financing https://www.excedr.com/blog/equipment-leasing-vs-financing
Series A, B, & C Funding https://www.excedr.com/resources/series-funding-explained
Seabright Ventures Fund https://seabrightventuresfund.com/
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech.
Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million. Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about creating and finding competitive moats, and how Explora Biolabs leaned into a creative financing opportunity to grow. Sandy also discusses the importance of solving problems in unconventional ways.
We cover his thoughts on how a board of directors finds its purpose in keeping the CEO in check and the healthy tension that exists in that balance. Lastly, Sandy touches on the qualities he attributes his success to, as well as offering advice to his 21-year-old self that everyone can benefit from hearing. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:20 Episode starts, Explora Biolabs’ contract research, technical staffing, renting vivarium rooms
03:26 Creating competitive moats, unique financing opportunities as a business model
07:03 Learning to negotiate his position and mitigate risk, solving problems unconventionally
10:55 Maintaining profitability and the board’s purpose to keep the CEO in check
13:28 Getting acquired by Charles River, finding the right timing to exit
17:44 Tips for those looking to get acquired, taking your time with the decision
18:50 Sandy’s attributes to success: humility, a great team, personal hustle, ambiguity as an asset
22:14 What Sandy and the Seabright Ventures Fund are up to in the next couple of years
25:18 Sandy’s advice to his 21-year-old self: work with interesting people doing interesting things with integrity
27:16 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Explora Biolabs https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-expl
ora-biolabs
Choosing & Collaborating with a CRO https://www.excedr.com/blog/contract-research-organizations
Choosing & Collaborating with a CMO https://www.excedr.com/blog/contract-manufacturing-organizations
How Do Core Labs Support Life Science Research https://www.excedr.com/blog/core-labs
Biotech Partnerships https://www.excedr.com/blog/how-biotech-partnerships-support-research
Managing Your Capital: Equipment Leasing vs. Traditional Financing https://www.excedr.com/resources/equipment-leasing-vs-traditional-financing
Equipment Leasing vs. Financing https://www.excedr.com/blog/equipment-leasing-vs-financing
Series A, B, & C Funding https://www.excedr.com/resources/series-funding-explained
Seabright Ventures Fund https://seabrightventuresfund.com/
The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.