Business Development Director, The Mount Sinai Health System
Business Development Director, The Mount Sinai Health System
We are seeking an experienced business development professional for a senior role with the Business Development Team at Mount Sinai Innovation Partners (‘MSIP’).. The individual who sits in this role is a trusted business advisor to Mount Sinai’s investigators and inventors and will direct the scientific and commercial evaluation of promising new technology disclosures, craft strategic national and international patent strategies and marketing plans, and actively engage 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 position reports directly to the of the Director of Business Development and works collaboratively with the Patent and Contracts teams, and may mentor and develop the other Business Development personnel, such as Business Development Managers (BDM) and Business Development Analysts (BDA) The individual in this role develops strong relationships and networks, influences decisions, thinks strategically and executes good deals to deliver the right asset to the right partner at the right time.
Duties and Responsibilities
- Thoroughly understands the commercial value and market positioning of a technology, and directs identification of commercial partners and marketing strategies
- Scouts internal research programs to identify opportunities, educates and influences inventors on how to get to the next commercial value inflection point, to facilitate deal making of derisked assets
- Develops and commercializes technologies from any scientific discipline and is comfortable synthesizing and understanding large quantities of data and information.
- Understands early product research and development process.
- Actively supports and consults with Mount Sinai Health System (MSHS) inventors re: their technology development efforts
- Has a deep and comprehensive understanding of patent law and prosecution strategy and, collaborates closely with the Patent Team to develop and direct the execution of the agreed-to patent strategy.
- Actively supports and consults with Mount Sinai Health System (MSHS) inventors re: their technology development efforts.
- Determines Fair Market Value (FMV) of technologies and identifies, sources and evaluates potential commercial partners; including start-up and internal or external investment opportunities.
- Drafts term sheets of financial and non-financial commercial terms as well as drafts and edits agreements of all types and complexities and is comfortable leading deal team negotiations of all types and complexities.
- Directs alliances on an ad hoc basis with key commercial partners in collaboration with MSIP’s Alliance Management team.
- Oversees complex and contentious post-deal compliance matters, especially: reporting obligations, due diligence in collaboration with MSIP’s Finance & Operation team.
- Is dedicated to effective and timely deal closing that created win-win situations and positions at the MSHS assets for success and value maximization
- Establishes, maintains and grows an active network with industry contacts; strives to be the preferred partner.
- Enhances organizational reputation by recognizing when to seek support by taking ownership of actions exploring new opportunities and navigating diverse stakeholder interests.
- Recommends and/or evaluates candidates for hire.
- Seek to advance job knowledge through active participation in conferences, lectures and other career specific networking events.
- Performs other related duties as assigned, including: recruiting and developing the team.
Master’s degree in Life Science field, PhD preferred
- 7 years of experience in the pharmaceutical, biotechnology, or academic healthcare sectors;
- Relevant post-doc work experience may be considered
- Track record of successful negotiations and executed deals
- Occasional travel may be required
Minimum Licensing Requirements
Minimum Certification Requirements
Minimum Computer Skills
MS Word, Excel, PowerPoint
Inteum, a plus
- Excellent scientific, legal and business skills
- Sound judgment and critical thinking
- Influence in difficult situations using scientific, legal and/or industry knowledge
- Networking, with both internal (Mount Sinai) and external (industry) clients
- Expertise in current 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
- Proven ability to establish and sustain effective partnerships
- Proven ability to develop, manage and motivate a team of direct and dotted line reports
- Ability to work in a virtual office setting as well as regular office environment.
Has Signatory Authority for Expenditures? YES
Has Contact with External Public? YES
If yes, please explain: The individual in this role interfaces with senior executives and decision makers in the pharma, biotech, and legal industries as a visible representative of the Health System.
Level of Physical Activity Required: Light
Works primary at home office located 150 East, 42nd street, New York, NY as well as hot-desking on the main campus. The person in this role is expected to work virtually as well as in an office setting. Job may include external meetings with industry counterparts and occasional travel.
Has Signatory Authority for expenditures? YES
Has Budget Accountability? YES
If yes, please explain: The senior level position within the Business Development team has responsibility and accountability for legal fees and investments for patent application and prosecution and commercial deal-making.
Supervises two or more employees? YES
May be responsible for the supervision of Business Development Managers, Analysts and Interns.
Responsible for EE Evaluations and Performance Programs? YES
Involved with EE Disciplinary or Labor Relations Activities? YES
This position generally reports to: Director of Business Development
Qualified candidates should apply to: email@example.com