Summary by Liam Fitzgerald

MBA ’24 Candidate

Kelley CBLS Director George Telthorst; Darshan Shah, BioCrossroads; Michael Meyers Cobas, Lilly; David Shenberger, CAI, Jason Kaufmann, Telix Pharma; Alyson Norrick, Catalent and a conference attendee enjoy networking post-panel.

 On November 18, the Kelley School of Business hosted a conference on Curative Technologies and Indiana’s Role in Advancing Them. This was part of a conferences series on Indiana Life Sciences Collaboration held at the Indiana Biosciences Research Institute in Indianapolis. Series sponsors included Commissioning Agents, Inc., Elevance Health, Lab Corp, Reckitt. Primary sponsors partnering for this event were Catalent, Indiana Biosciences Research Institute, Indiana CTSI, IU Office of the Vice President for Government Relations & Economic Development and Pearl Pathways. Supporting sponsors included Blueprint Marketing, Harba Solutions and Miles Printing.  Three speakers and two panels reviewing curative technologies developed in Indiana, the state’s role in their development, and the current challenges and opportunities of Indiana’s life science industry.

Luis Solorio,PhD, Assistant Professor, Weldon School of Biomedical Engineering at Purdue and Simran Trana, Associate VP of Innovation & Commercialization at Indiana University share in Q&A following their keynote presentations.

 Opening Keynote – Contributions of Indiana’s Flagship Schools to Healthcare

The conference began with an opening keynote on the Contributions of Indiana’s Flagship Schools to Healthcare. Luis Solorio, assistant professor of biomedical engineering, represented Purdue University. For ten years, Purdue has expanded its biological research and academics through the “Purdue Moves” project, radically expanding the number of drugs in its development pipeline from 18 to 87. Luis highlighted some of Purdue’s exciting research projects underway, including infrared dyes that identify cancerous tissues, sonar guidance for neonate ventilators, wearable devices that detect covid cardiovascular symptoms, smartphone-based pathogen identification, and MRI aneurysm risk assessment models.

Simran Trana represented Indiana University’s Innovation and Commercialization Office, where she serves as Vice President. Simran reviewed IU’s rich history of innovation, including the first fluoride toothpaste and early education technology. Recent developments at IU include a pharmaceutical treatment for hypophosphatemic rickets and a novel therapy for acute kidney injury prevention. Simran emphasized the need for partnerships between scientist faculty and business leaders to drive innovation, saying that translating science into business takes a healthy “ecosystem” of support.

Alyson Norrick of Catalent speaks during the morning panel which included David Shenberger, Commissioning Agents; Jason Kaufmann, Telix Pharma; Michael Cobas Meyer, Eli Lilly and Jeff Hanthorn, NICO Corporation.

Panel – New/Latest Technologies on the Scene

A panel of business leaders presented new technologies developed in Indiana. The panel included James Kauffman, head of Marketing at Telix Pharmaceuticals, who presented a powerful radiological treatment for cancer cells. Jeff Hanthorn, co-founder of NICO corporation, described their revolutionary approach to minimally invasive neurosurgery. Michael Cobas Meyer, senior vice president, neuroscience pain early and late phase development and LRL COVID-19 therapies at Eli Lilly, spoke to early career attendees and emphasized the importance of cooperation among experts from different fields. Finally, Alyson Norrick, head of business at Catalent Pharma Solutions, shared how her organization built a new facility and manufactured one billion COVID-19 vaccine doses at an exceptional timeframe in response to the pandemic. Together, the panel represented years of experience translating science into effective industry.

The panel agreed that operating in Indiana brought unique benefits, including the central geographic location and a large talent pool. The state also brought unique challenges, such as difficulty attracting talent from out-of-state. They also discussed the increasing speed of development and the challenges of ensuring safety and efficacy while under pressure to develop technology quickly. The pressure to develop quickly has increased with the highly publicized speedy response to COVID-19. They also reviewed challenges in Indiana’s health infrastructure, which is dense in some areas and sparse in others, the rise of remote working, which allows for lower-cost infrastructure but creates opportunities for employee negligence, and the importance of communication between scientists and business leaders. As Michael Cobas Meyer noted, “great ideas are just the start. Making it real is hard work and requires coming together.”

Keynote – Indiana Life Sciences: Look Back, Spring Forward

Patty Martin, President and CEO of BioCrossroads, reviewed the ongoing development of Indiana’s Life Sciences industry. The work is accelerated by BioCrossroads, a non-profit that’s raised $649 million in market capital, philanthropic, and state funding to pursue promising new Indiana life science technology, organized two life sciences venture capital funds, and organized and actively managed three seed funds that have invested in 32 Indiana companies.

Patty reviewed the opportunities and challenges of life sciences in Indiana. The state is especially well-situated to connect medical science with information technology and artificial intelligence. Obstacles to growth include talent constraints and an underfunded economic development toolkit. Indiana is currently unable to staff its own rate of growth. Like the panelists before her, she noted that talent is reluctant to relocate to Indiana due to ignorance of the healthcare opportunities and because of political controversies. She noted that the scorecard for K-12 education measurements does not include STEM categories and that undergraduates often leave the state without knowing how many opportunities are available here. Throughout, Patty emphasized Indiana’s “awareness gap” and the need to build awareness of already existing opportunities.

Afternoon panel sharing innovative technologies included Mark Kowala, IBRI, Melissa Kacina, Osteofuse LLC; Dave Wilhite, Genezen; Kristin Sherman, Kovina Therapeutics and Joe Trebley, Scioto Biosciences.

Panel – Highlighting the Next Wave of Curative Technologies

The second panel of business leaders included Melissa Kacena, founder of Osteofuse, a company developing thrombopoietic agents that improve bone healing. Joe Trebly, founder and CEO of Scioto Biosciences, presented his company’s activated bacterial therapeutic for autism. Dave Wilhite, Executive President of Alliance Management of Genezen, discussed his company’s lentiviral and retroviral vector manufacturing facility and its support of T-cell cancer therapy. Kristin Sherman, CEO at Kovina, presented her company’s novel treatment for HPV-infected cells.

The panel’s discussion centered on maximizing the chance of entrepreneurial technologies reaching the market. Identifying a winning technology necessitates the input from key opinion leaders, addressing an unsolved medical need, and being cognizant cycles in the entrepreneurial space. They agreed that the needs of payers and physicians should be considered from the very beginning, adding “You’ve got to know the end game before you begin.” They discussed the challenges of fundraising, which are best met by passionate networking and a willingness to be transparent and honest. They also discussed communications with regulatory authorities and the benefits of remote versus in-person work. Like other presenters, they acknowledged challenges recruiting talent to Indiana due to ignorance and political controversies. All agreed that during challenging times, their motivation comes from the potential value they can deliver to patients.

Jason Kaufmann of Telix Pharma networks with Dana Foreman of Blueprint Marketing Group.

Kate Naughton, conference attendee, captured the atmosphere of the day by commenting “It was such a wonderful day of learning and meeting new people. I was amazed to be surrounded by such kind, fun, and incredibly smart people.”

Wrap-up

The closing was delivered by George Telthorst, Senior Lecturer at Indiana University and Director of the Life Sciences Academy. He thanked the sponsors and volunteers who made the event possible and noted that the series would include two more conferences: one on “Uniqueness of Healthcare and Life Sciences Marketing” on 21 February 2023 and one on “Digital Health – The Buzz and the Reality” on 21 April 2023.

*Since 2006, the IU Kelley- Center for the Business of Life Sciences (CBLS) has provided a forum for various players in healthcare and life sciences to consider, discuss, and debate key business strategy issues.  In presenting the Indiana Life Sciences Collaboration Conference Series, CBLS brings together key players from industry, academia, government, and economic development communities to share ideas and expertise.

L-R- George Telthorst (Kelley, CBLS Director), Stephen Schenk, Olivia Graft, Haley Dosenbach and Rod Taylor of Eli Lilly

On October 28th the Kelley Center for the Business of Life Sciences hosted four Eli Lilly representatives for an evening to share with current and prospective business of life sciences students about Eli Lilly, their backgrounds and network with students.

Stephen Schenk, MBA Life Sciences alumnus, gave an overview of Lilly’s rich history, how the company is currently leading in the industry from a pharma and culture standpoint as well as the bright future that lies ahead. Olivia Graft, Kelley undergraduate alumna, shared her journey through her internship- turned full time experience at Lilly for over the last year. Haley Dosenbach also interned at Lilly during her MBA and accepted her full-time offer, beginning at Lilly in July of ’22. Rod Taylor is a “double Kelley”, having earned his undergraduate degree and MBA in finance. Rod shared he has mentored and led many Kelley graduates through their careers at Lilly.

Stephen Schenk, Haley Dosenbach, Olivia Graft and Rody Taylor share with students at fall CBLS reception.

Students in attendance ranged from business to biotechnology and Master’s in Healthcare Management.  There were many great questions asked of the Lilly team. Stephen shared how much Lilly invests in research & development, what areas they focus on (cancer, diabetes, immunology, neurodegeneration and pain), Lilly International, breakdown of business units, DEI, employee culture & support and giving back to the community.

It’s always fun to touch base with former students, not only watching them be successful but also giving back to current students. The Kelley Center for the Business of Life Sciences is honored to have partnered with Eli Lilly since the center’s inception. Thank you- Haley, Olivia, Stephen and Rod for sharing!

Olivia Graft of Eli Lilly & Kelley MBA Alyssa Poticha

Stephen Schenk MBA’18 and current Kelley MBA Students

Rashmi Shrivastava and Daniel Trejo (left seated) at their internship with Eli Lilly

Interview by Mani Selvaraj, MBA Class of ’23

with Daniel Trejo and Rashmi Shrivastava, MD, MBA Class of ’23

What company did you intern with this summer? Which program and/or functional area were you a part of? 

DT- This summer, I worked at Eli Lilly as a Commercial MBA Intern in the international business unit (IBU). I joined the marketing department in the neuroscience business unit on Alzheimer’s Disease (AD). 

RS- International Business Unit Medical Affairs, Eli Lilly

What project(s) did you work on? 

DT- I had the opportunity to work on three different projects: 

1. AD Digital Onboarding Platform. 

For this project, I had to analyze the different onboarding and training materials currently available across the different platforms and sites and build a new design onboarding plan defining the flow and creating a new set of materials that will serve as a quicker and lighter solution for new colleagues joining the neuroscience team in IBU for our AD platform.  

1. AD Platform Country Tiering Analysis 

For this project, I had to develop a prioritization tool in recommended countries with a clear understanding of their particularities based on their potential, diagnostics Infrastructure, and affordability, partnering with the regulatory, forecast, and PRA teams for the analysis to give a country tiering recommendation for launching Donanemab. 

1. AD Forecast Integration– Japan and China  

For this project, I had to manage communication and incorporate forecast requirements to ensure consistency and integrate the different needs of the business, partnering with our finance, new product planning, and forecast colleagues in China and Japan. 

RS- Transformation of medical information with AI/ML

Daniel Trejo at Lilly International

What was the biggest challenge you had to overcome, and what did you learn from it? 

DT- My biggest challenge was moving the projects on time, considering the different departments involved in each project, and aligning the recommendation with my team and manager. Working cross-functional can be challenging. Teams have different goals, timelines, and expectations.  The key is to have constant alignment to achieve common goals. 

RS-Learning about different technologies and working in different time zones with multiple business units across the globe. 

How was your experience networking with different colleagues at your company? 

DT- Networking should make us feel good about the new relationships we form by creating value for each person. This is the feeling I get every time at Lilly.  The company lives through its values of excellence, integrity, and respect for people. In every interaction I had, I was able to learn and feel the warmth of the people. I could talk with senior vice presidents and senior directors the same way as any other person in the organization. Networking is part of Lilly’s culture. 

I learned that people are the most important resource of any organization. As Steve Fry (Executive vice president, human resources and diversity) told us, “People are the most important resources of an organization. No product can be developed, manufactured, and commercialized without people.” Lilly is a company with a heart that cares about its employees. 

RS- It was a great learning experience which I enjoyed a lot.

Rashmi Shrivastava at Lilly cultural networking event (2nd from right)

Has this experience changed your overall career goals? Did you identify any skills that you would like to develop as you return for the second year of the MBA program? 

DT- Before joining, my career goal was to work in a company that values its employees, a place where you work as a team creating and delivering value to colleagues, and a business where you can improve the quality of life of people using innovative solutions. Lilly gave me more than I expected, and now I had the opportunity to go back as full-time. My career goal is different now. I want to become an innovative leader in the healthcare industry using AI and digital solutions to connect businesses with clients and to create data-driven decisions that help all the collaborators in the company.   

RS-Yes! As I realized it’s a high-time Healthcare area that should explore AI and I did a few courses in AI afterward and decided to do health technology work for my full-time job. 

Are there any other suggestions you would give to future students that are about to begin their summer internship? 

DT- In an executive coffee chat with Ilya Yuffa, President of Lilly International mentioned that there are keys to success. 1) Connecting with people, 2) Having a goal beyond reach, and 3) Brutal execution. I put these concepts into practice, which helped me succeed in my internship.  

My advice to future students about starting their summer internship is to continue to be diligent in using these keys, bring your experience and ideas, and always stay true to yourself.  

RS- Try to learn the goal of your project first and understand the supervisor’s needs on the project and align your work process with the company’s work culture. 

By Mani Selvaraj, MBA Class of 2023

Dr. Jerome Adams

I felt privileged and honored to listen to former U.S. Surgeon General Dr. Adams on the 6^th of October, when he addressed the students in the life sciences program at the Kelley School of Business. The session, organized by Center for the Business of Life Sciences (CBLS) was very insightful and informative for all.

Dr. Adams’ thoughts about Preventive Health & Preventive Care are very relevant to the current healthcare situation in the US. As an international student, I do not have much knowledge about the US healthcare industry, but his knowledge and wisdom in the field made it simple for everyone to understand easily.

Dr. Jerome Adams speaks with students at the Kelley School of Business

I was surprised to hear Dr. Adams say, “Healthcare is ranked second highest expense in the country, because in the US, the per capita spending for healthcare is $12,500, whereas in other OCED nations it is just $4,500”. Insurers are seeing that employers can no longer pay the high cost of insurance. Dr. Adams believes more changes will come as more and more businesses say “enough is enough”. Business will drive change by taking “triple aim” at delivering better care for better outcomes at a lower cost.

Also he stated that businesses are realizing the importance of Environmental Social Governance (ESG) by investing in products and policies that have a social impact because they cannot continue to be successful at the expense of the environment and people’s health.

After listening to him, I cannot agree more that preventive healthcare is the most important aspect, when we talk about effective and successful healthcare system. I say this because we can’t save money by keeping the people in the hospital beds, we can save money only by keeping them out of the hospital beds. ‘How to provide higher quality care at low costs?’ is another point to ponder, but I think preventive care can be the most effective answer for the question.

Dr. Adams also discussed the importance of social determinants of health, focusing on healthy communities by providing access to preventative care to all citizens.

Dr. Adams with life sciences students at the Kelley School of Business

Dr. Adams challenged students to have an understanding of health and economic decisions that they make by being informed. He also encouraged students to think about how they prioritize “be cognizant of what you enjoy doing, feed your soul.  Be intentional about opportunities that feed your soul.  Understand the kind of person you want to be.”

One undergraduate student considering a career in healthcare said of Dr. Adams’ talk “It provided me a lot of impactful insight about healthcare policy and allowed me to really think about what my future will look like”.

Dr. Jerome Adams and Mani Selvaraj, 2nd Year MBA

I strongly believe that students willing to pursue their career in the healthcare industry should listen more to experts like Dr. Adams. I enjoyed listening to him and I am looking forward to more sessions like this to further improve my knowledge in healthcare. For more details see Dr. Adams talk he delivered How resilient communities can create a healthier country- and world on TedEx

*For more information about student opportunities with the Kelley Center for the Business of Life Sciences see the center’s website.