Building Internal BD Muscle in Fig Therapeutics

MotionHall provides professional support services to facilitate growth in BD teams

Tim, Vanessa, and Yao represent the BD team at Fig Therapeutics, a biotech with a robust clinical pipeline. The CEO and board have decided that it's time to develop their BD ‘muscle’ by building a specialized in-house team.

Tim has been the CEO of other biotechs and also has a background as CCO. This is his first time leading in the CBO role. Tim’s first task as CBO is to outlicense Fig’s lead asset. Though he’s new to the process, he’s optimistic he can find the guidance to learn this skill set for the company.

Vanessa has been working with Tim for several years in various analyst support roles. She too is interested in BD skills and growing Fig’s new BD team. She hopes to better support Tim by helping him understand the market for their licensing deal, by managing market outreach, and by briefing him before meetings.

Yao has just joined Fig Therapeutics. His background is in biology and he is just out of business school. He has been assigned to report to Vanessa and help her analyze market data.

The team is competent and ambitious, but they are interested in using MotionHall to elevate what they can achieve together.

Establishing your gold-standard partnering process

Tim and Vennessa engage in a series of conversations with MotionHall. They discover they can use MotionHall's tools to understand the market for their licensing deal more quickly and with far greater clarity than they would be able to otherwise. Likewise, they are pleased to find that they can immediately get a lens on the competitive set and deal comparables for their lead product.

MotionHall’s gold-standard BD tools allow the team to start planning their deal cycle in the most efficient way. Tim and Vanessa ask MotionHall if they could work with not just the tools to augment their process but also look at ways to boost their ability to strengthen their BD ‘muscle’.

Maximize your BD growth

The pair engage MotionHall for a custom set of services alongside the software analyses. In Tim’s strategy conversations with MotionHall, he learns about how best to approach the market and create competitive forcing functions that will further drive interest in the deal. Vanessa learns the practices that work best for how to prepare Tim to be most effective in meetings. Yao gets training on how to provide that supportive role for Vanessa.

Efficiently achieving your professional development goals

Fig’s BD team goals leave each member with room for growth:

  • • Tim is looking to grow as a dealmaker and be successful in his first deal cycle
  • • Vanessa is hoping to expand her BD support operations and effectively lead a team
  • • Yao wants to quickly become useful to Vanessa and the BD team
For each there is room for growth. Tim, Venssa, and Yao engage differently with MotionHall’s team, services, and technology to achieve their goals in an accelerated timeline. Within a year Fig no longer needs MotionHall’s support. They are ready to hire additional people onto their BD team using their newly acquired knowledge and resources from their successful first licensing deal.

Tim, Vanessa, and Yao continue to leverage the toolset from MotionHall to understand how to prioritize amongst their pipeline. Vanessa leads ongoing analysis using MotionHall’s tools to help her understand which products in Fig’s pipeline should be licensed next in terms of attractiveness to the market. This could potentially bring money into the company and continue to fuel future development on desired timelines.

Vanessa brings those strategic findings to Tim and the two of them agree on an approach strategy for licensing the next product in the pipeline. Yao is ready to begin leading on administrative work and email outreach for the campaigns. Tim, the CEO, and the board are not just thrilled that Fig landed their first licensing deal, but that the in-house approach to BD means the relationships that have emerged are retained to inform upcoming deals.

Fig Therapeutics was able to leverage MotionHall’s tools into an effective partnering strategy. But more than that, they used MotionHall’s professional development services to foster their own in-house BD expertise. Fig Therapeutics can now flex its new BD muscles as a confident, self-sufficient team.

The names of people and organizations have been anonymized.

An extraordinary approach to effective partnering.