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Founders pitching pharma must determine if their solution is being 'pulled' by a stated R&D priority or 'pushed' by an enthusiastic innovation scout. A 'pull' signifies a fast-track deal process, while a 'push' could mean a multi-year educational journey before any deal is possible.
Stop trying to convince executives to adopt your priorities. Instead, identify their existing strategic initiatives—often with internal code names—and frame your solution as an accelerator for what they're already sold on doing. This dramatically reduces friction and speeds up deals.
Most founders instinctively try to "push" sales forward: creating urgency, sending non-stop follow-ups, and trying to convince prospects. The actual physics of sales is "pull." When a customer has genuine demand and lacks good options, they will do the work—scheduling meetings, bringing in stakeholders, and asking for information—to acquire your solution.
Getting a partnership deal done requires more than a good pitch; it requires an internal advocate. Leaders should leverage their network to identify and cultivate a champion inside the target company. This person is critical for navigating internal bureaucracy and pushing the deal over the goal line, as "there's a million ways for deals to die."
A successful acquisition strategy goes beyond the highest bid. It involves 'thinking like the molecule'—evaluating which buyer has the specific expertise, capabilities, and cultural alignment to best steward the asset's development. This reframes M&A from a financial transaction to a decision about the asset's future.
Founders often rush discovery to save time for a long demo. This is backward. When you precisely understand a customer's 'pull' (their top blocked priority), your pitch becomes hyper-relevant and can be delivered in 90 seconds, making the entire sales process more efficient.
Landing a major client in the B2B health tech space requires extreme persistence. Sales cycles can last for years, and success often depends on the long-term effort of 'chipping away' at barriers and objections. Resilience is more critical than having the perfect initial pitch.
For years, Actuate's CEO has shared progress with large pharma companies, not just for early deal-making, but to get critical feedback on their development plan. This helps them understand what data potential acquirers need to see to make a compelling offer later.
A core investment framework is to distinguish between 'pull' companies, where the market organically and virally demands the product, and 'push' companies that have to force their solution onto the market. The former indicates stronger product-market fit and a higher potential for efficient, scalable growth.
When seeking partnerships, biotechs should structure their narrative around three core questions pharma asks: What is the modality? How does the mechanism work? And most importantly, why is this the best differentiated approach to solve a specific clinical challenge and fit into the competitive landscape?
When a potential acquirer calls, the founder's default mode should be information gathering, not pitching. By asking strategic questions ("Who else are you talking to?", "What are your goals?"), founders can extract valuable competitive intelligence about the market and the larger company’s plans, regardless of whether a deal happens.