The Mount Sinai Health System's commitment to excellence extends beyond delivering world-class health care. The System's ongoing success is dependent upon our highly motivated, nonclinical professionals working to improve business operations. Our leadership team is driven to provide exceptional service by cultivating a workforce that is dedicated to upholding Mount Sinai's mission of delivering innovative, breakthrough medicine with compassion and integrity.
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Mount Sinai Innovation Partners (MSIP), the technology and commercialization office of the Mount Sinai Health System (MSHS), is seeking a driven business development professional. The Business Development Manager ('BDM') is a mid-level position and an ideal candidate will be reliable, motivated, efficient, outcome-driven, and thrive in a fast-paced, high volume environment. The BDM is conversant and comfortable with both academic and commercial partners, capable of fostering and growing networks, and serves as a resource for creating, evaluating, positioning, and identifying partnering opportunities for commercially relevant translational research. The BDM manages a diverse portfolio of assets across different stages of a commercial life cycle and contributes to the organization by sourcing and managing new technology disclosures, assisting in crafting patent strategies and marketing plans, and engaging with the commercial marketplace to help ensure that innovative therapeutics, diagnostics, devices and other technologies are made available to our worldwide patient population and become the new standard of care. The BDM reports to the Director of Business Development, providing “sleeves rolled up” support on all business development and deal-making activities, including prospecting and sourcing potential partners, creating compelling pitch material, and participating in deal negotiations.
What You'll Do:
Understands the strength and power of translational research and how to identify early-stage research from any scientific discipline that is potentially commercially relevant; appropriately positions early-stage assets for commercial partnership.
Has a strong foundational understanding of intellectual property law; assists the Director of Business Development and MSIP Patent team in guiding the drafting of relevant claim scope to secure the strongest intellectual property position to attract commercial interest.
Provides interactive and ongoing education and support to MSHS inventors/investigators to help shape their research and development efforts along a commercial trajectory in order to achieve the next value inflection point and, ultimately, commercial partnership.
Educates faculty on intellectual property and business development matters.
Determines FMV of technology based on rNPV/comps or other methodologies.
Creates compelling business-appropriate non-confidential and confidential overviews of MSHS assets; organizes and leads targeted partnering meetings.
Establishes, maintains, grows, and mines an active network of industry contacts in order to source the right potential commercial partner for MSHS assets.
May create terms sheets and draft agreements and may lead deal negotiations of mid-level complexity; participates in the review of agreements of all types and complexities; in collaboration with the Director of Business Development and the MSIP Contract Team, sets negotiations strategies and identifies problems/opportunities in contractual language and offers alternatives.
Manages alliances on an ad hoc basis with key commercial partners.
May lead, or consult with MSIP Finance and Operations and legal on, contract compliance interactions with partners, especially relating to the science and product development.
May lead any intra MSHS actions; is viewed as a trusted business development partner by MSHS employees.
Acts as a mentor to more junior Business Development colleagues on all matters relating to technology management and commercialization.
Effectively uses emotional information to manage up and down; recognizes when to ask for support from senior Business Development colleagues or other MSIP domain experts; navigates and resolves conflicts while preserving positive relationships.
Participates in the review of MSIP candidates for hire.
Is an MSIP brand ambassador, and reflects the brand (at all times) in: appearance, language, work ethic and behavior.
Performs other related duties as assigned.
What You'll Bring:
Masters of Life Science; PhD, preferred
MBA or JD, a plus
5 years: industry or academic laboratory OR pharma or biotech business, preferred
Relevant post-doc work experience may be considered
Deal negotiation/closing in the IP space, preferred
MS Word, Excel, PowerPoint
Inteum, a plus
Scientific and business skills
Sound judgment and critical thinking
Persuasion, in difficult situations using scientific, legal and/or industry knowledge
Networking, with both internal (MSSM) and external (industry) clients
Awareness of market conditions and trends for patents and commercial licensing agreements, especially for biomedical inventions
Functions well as a contributor to interdisciplinary groups party-to the protection, evaluation, partnering and commercialization of intellectual property
Ability to establish and sustain effective partnerships
Ability to develop, manage and motivate a team
Ability to work in a virtual office setting as well as regular office environment.
Who We Are:
Over 35,000 employees strong, the mission of the Mount Sinai Health System is to provide compassionate patient care with seamless coordination and to advance medicine through unrivaled education, research, and outreach in the many diverse communities we serve.
Formed in September 2013, The Mount Sinai Health System combines the excellence of the Icahn School of Medicine at Mount Sinai with seven premier hospital campuses, including Mount Sinai Beth Israel, Mount Sinai Beth Israel Brooklyn, The Mount Sinai Hospital, Mount Sinai Queens, Mount Sinai Roosevelt, Mount Sinai St. Luke's, and New York Eye and Ear Infirmary of Mount Sinai.
The Mount Sinai Health System is committed to the tenets of diversity and workforce that are strengthened by the inclusion of and respect for our differences. We offer our employees a highly competitive compensation and benefits package, a 403(b) retirement plan, and much more.
The Mount Sinai Health System is an equal opportunity employer. We promote recognition and respect for individual and cultural differences, and we work to make our employees feel valued and appreciated, whatever their race, gender, background, or sexual orientation.