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INSIGHTS/ The CEO: Eliot Forster (F-star Therapeutics, Inc) - How to work effectively with a board

Eliot has over three decades of experience in the pharmaceutical and biotechnology industry, having co-founded and led several companies. He is non-executive Chairman of Avacta plc (LON AVCT) and non-executive Director of Immatics NV (NASDAQ IMTX).

Eliot also holds Board responsibilities with other, privately held, biotech companies. Formerly Chief Executive officer of F-star Therapeutics Inc (NASDAQ FSTX), Immunocore (NASDAQ IMCR), and was previously at Pfizer and GSK. He was founding Chairman of MedCity and was Chairman of Liverpool Health Partners. He is an honorary visiting Professor of Molecular and Clinical Cancer Medicine at the University of Liverpool and an honorary international visiting Professor at the University of Pavia, Italy. He is also Board member of UK Office for Strategic Coordination of Health Research and the UK National Genomics Board. He holds a PhD from University of Liverpool and an MBA from Henley Management College.

Francesco de Rubertis, the founding partner of Medicxi (a leading European VC) once stated in a session for our CEOs:

"4+ VC investors in your shareholder register constitutes a business risk".

Why? Because you run the risk that the investors and other stakeholders will be clamouring for influence on the board.

A good board can be of tremendous help when building a life science venture. You, as the founder, often feel that don't have much say on who gets onto your board since the investors will decide. That is definitely not true but, in any event, it is up to you to decide how you want to work with your Chairperson and board. 

There are numerous lessons to be learned from CEOs who have been in your shoes before you.

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Goodwin Webinar Series: Part 3 - “The Termsheet”: Practical realities and key terminology

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June 7

Goodwin Webinar Series: Part 4 - A Piece of the Pie: Why Equity Incentives Matter and The Types of Arrangements to Consider