Position Title: Manager, Business Development & Licensing
We are seeking a driven business development professional for a position within Mount Sinai Innovation Partners (“MSIP”), the technology and commercialization office of the Mount Sinai Health System (“MSHS”). The Manager of Business Development and Licensing (‘MoBDL’) is a mid-level position and an ideal candidate will be reliable, motivated, efficient, collaborative, outcome-driven, and can thrive and execute in a fast-paced, high volume environment. The MoBDL 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 MoBDL manages a diverse portfolio of assets across different stages of the 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 MoBDL reports to the Managing Director of Business Development and Licensing, providing “sleeves rolled up” support on all business development and deal-making activities, including prospecting and sourcing potential partners, creating compelling pitch material, and leading deal negotiations.
Duties and Responsibilities
1. Intellectual Property:
a. Has an advanced understanding of patent law and prosecution strategy
b. Collaborates with the MSIP Patent Team, either independently or in conjunction with senior BD&L team members, to develop and direct the execution of the agreed-to patent strategy
c. Manages the work activity of Prior Art searches and may oversee prior art searching of interns and fellows
2. Asset Development and Marketing:
a. Understands the commercial value and market positioning of a technology
b. Educates and influences inventors on how to get to the next commercial value inflection point to de-risk assets and facilitate partnerships
c. Actively supports, educates, and consults with MSHS inventors re: their technology development with minimal supervision
d. Commercializes technologies from any scientific discipline
e. Understands development processes of the applicable technology type
f. Responsible for identification, sourcing and evaluation of potential commercial partners
3. Deal Making and Post-Deal Compliance:
a. In consultation with senior BD&L team members, drafts term sheets of financial and non-financial commercial terms for agreements of mid-level complexities.
b. May lead deal negotiations of mid-level complexity in consultation with senior BD&L team members.
c. Prepares “issues lists” for senior BD&L team members outlining problems/opportunities in contractual language and potential alternatives.
d. Is dedicated to supporting the effective and timely deal closing that creates win-win situations and positions MSHS assets for success and value maximization
e. Determines FMV of technology based on rNPV/comps or other recognized methodologies in consultation with senior BD&L team members
f. May participate in contract compliance interactions with partners, especially relating to review of science and product development timelines and milestones
4. Networking and Relationship Development:
a. Interfaces with counterparts in the pharma, biotech, venture and legal industries as a visible representative of the MSHS.
b. Establishes, maintains and grows an active network with industry contacts; strives to be the preferred partner
c. Participates in intra-MSHS interactions and is viewed by faculty and senior leadership across the MSHS as a trusted partner
5. Management of Operations and Staff/Other:
a. Proactively mentors junior BD&L team members
b. Participates in the evaluation of candidates for hire
c. Performs other related duties as assigned
d. Seeks to advance job knowledge and MSIP’s external presence through active participation in conferences, lectures and other career specific networking events.
6. General Skills:
a. Demonstrated scientific, legal, and business acumen
b. Possesses multi-tasking and time management skills in a fast-paced environment
c. Ability to effectively use emotional information to manage up and down; recognizes when to ask for support from senior leadership;
d. Ability to navigate and resolve conflicts of mid-level complexities while preserving positive relationships through the combined use of outstanding interpersonal skills and scientific and business knowledge;
e. Ability to enhance organizational reputation by recognizing when to seek support by taking ownership of actions and exploring new opportunities and navigating diverse stakeholder interests
f. Is an MSIP brand ambassador, and reflects the brand (at all times) in appearance, language, work ethic and behavior at all times
g. Possess sound judgement and critical thinking
h. Ability to establish, maintain, and expand effective partnerships and relationships
i. Ability to function well as a contributor to interdisciplinary groups
j. Ability to work in a virtual office setting as well as regular office environment
Masters of Life Science, Ph.D. strongly preferred
MBA or JD a Plus
5 plus years of relevant experience in the pharmaceutical, biotechnology, or academic healthcare sectors, relevant post-doc experience may be considered;
Experience with negotiation and execution of intellectual property deals preferred
Minimum Certification Requirements:
Registered Patent Agent, a plus
Certified Licensing Professional or Registered Technology Transfer Professional, a plus