I applaud and congratulate leaders like Jeremy Levin (read the interview with him in Fierce Biotech) who have the courage and perseverance to leave comfortable roles and secure jobs in big pharma in order to run risky ventures at small-cap life sciences companies, where the odds are stacked against them but the drive to develop new therapies for people who desperately need them is even stronger.
In my 31 years in executive search, I’ve put a lot of effort into finding great leadership candidates like Levin, who have a strong desire to take a chance on small-cap life sciences companies. These companies/clients are seeking leaders who have the skills and adaptability to help develop new therapies and/or commercialize recently approved new products on limited budgets and can’t afford to match the compensation and perks of big pharma. It takes a very special leader to fill these roles. Without their ideas, creativity, and courage, we all run the risk of missing out on life-saving therapies.
Jeremy Levin is correct in saying that big pharma compensation needs to change. I admit I left the comforts of big brand name search for the same reason -- the compensation incentivized the wrong behaviors.
It’s for all these reasons and the potential impact they have on society that I hope you’ll join me in applauding Jeremy Levin, Chris Cashman at Marinus Pharma, Ron Cohen at Acorda Therapeutics and the dozens of other leaders who’ve had the determination to lead small-cap companies and who’ve endured, even through the down times. Keep up the great work!
Read Fierce Biotech's interview with Jeremy Levin here: https://www.fiercebiotech.com/biotech/conversation-jeremy-levin-ceo-ovid-therapeutics