Building Internal BD Muscle at 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’s background experience includes being a CCO or a CEO at other biotechs. This is his first time leading in a CBO role and his first task as CBO is to outlicense Fig’s lead asset. Though new to the process, he’s optimistic he can find guidance to learn this skill set for the company.

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

Yao has just joined Fig Therapeutics. He has a biology background and recently finished business school. He is assigned to report to Vanessa and help her analyze market data.

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

Establishing your gold-standard partnering process

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 ways to strengthen their BD ‘muscle’. Tim and Vanessa 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.

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 how best to approach the market and how to create competitive forcing functions that will 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 challenge each member to develop new skills:

  • • 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, Vanessa, and Yao engage differently with MotionHall’s team, services, and technology to achieve their unique goals in an accelerated timeline. Within a year Fig understands how to develop their BD muscle without 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 their pipeline. Vanessa leads ongoing analysis using MotionHall's tools to help her understand which products in Fig's pipeline are most attractive to the current market and should be licensed. This could potentially bring money into the company and continue to fuel future development on desired projected timelines.

Vanessa brings those strategic findings to Tim and both come to agree on a strategic approach for licensing their next product in the pipeline. Yao is ready to begin leading administrative work and email outreach for the campaigns. The CEO Tim, and the board, are not only thrilled that Fig landed their first licensing deal, they are pleased with the in-house approach to BD which allows the relationships that have emerged to be retained and inform upcoming deals.

Fig Therapeutics was able to leverage MotionHall’s tools into an effective partnering strategy. 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.