Anna Sumeray’s diverse experiences include the build of a successful European biotech business for a US-based company from the ground up and management of Novartis’s oncology businesses in Finland and Germany. She also has significant M&A and licensing experience and was global head of business development and licensing at Novartis Ophthalmics. She has worked in 13 countries and in 4 languages. Anna has a BSc (Hons) in Biochemistry from the University of Birmingham, UK and an MBA from INSEAD, Fontainebleau, France.

New life sciences companies are always founded around a novel and hopefully disruptive technology or invention. Hence, the first step for you in the startup process should be an honest and in-depth assessment of the commercial potential of your data.

Most critically, you need to discipline yourself and be brutally honest about your data. If your data will tell you to pivot, don’t be afraid to make the necessary adjustments to your strategy and plan. However, this requires clear communication within your team, and taking them as well as your board and investors with you.

Anna Sumeray will speak about her journey at Virometix where she discontinued her lead program despite generating good data. She felt that her data would ultimately not be strong enough in an advanced clinical or commercial setting. She agreed with her board to return the funds she had raised from investors, pending a revised investment case. An intense process with her team followed, during which her expert advisory board made key recommendations on how to make the next generation products stronger. Anna and her team then relaunched Virometix after 8 weeks with a new target and program, with compelling best-in-class / first-in-class characteristics – and with the same group of investors.