Erica Sosnowski, the Managing Partner at Sosna + Co. recently posted on LinkedIn a list of things that life science executives struggle with the most in the context of finding and executing deals.From her post:- A limited network due to time spent in academia or in the “science” of their business- Lack of understanding (despite best efforts) on how to move your business beyond the small-to-medium stage- Uncertainty of what goes into business/IP valuation- Lack of awareness of where to find the ideal target company (for M&A, licensing, partnering)- Unsure how to negotiate and secure a lucrative dealMaybe you struggle with similar challenges. So I asked her about all of those things in our interview.Many founders may have a scientific network but not a business network where they can find people to help turn their science into a product. How do you find the right partners? You need to know where you are trying to go. Erica’s job is to help with the process. …it also starts with strategy, right? It starts with, “What do you wanna be when you grow up? How do you wanna get this drug over the finish line? What is the amount of money that you need to get it there? Because we all know that developing a drug or a technology, it takes millions of dollars in multiple years.Most interesting to me was the art of valuation. Understanding the market for your therapeutic area is key, of course. I hadn’t realized that markets can be very different geographically for cultural as well as other reasons. And every market is different, right? I mean, the North American market is vastly different from the European market, which is different from the Japanese market. So, um, looking at the dynamics of each of the markets is, is also critical to understanding the IP position and the valuation…How drugs are paid for. Culturally, right? Reimbursement systems are different in different areas. Therapeutically, you have different diseases that affect different countries. There's a lot of obesity in North America, not as much in some of the European or Asian countries.This was a fun and informative interview. If you are looking to do a deal in the future, you’ll want to listen and subscribe.Erica on LinkedInSosna + Co.Chat with Chris about content for demand generation.Intro Music stefsax / CC BY 2.5 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cclifescience.substack.com

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