Metallomics, an emerging field examining the roles that metals like zinc play in biochemical processes, is making strides because of biotech pioneers like Metallomix Inc., a Cure Collaboration Residency company.
Helmed by seasoned VC biotech investor Sergei Petukhov, DVM, co-founder and CEO of Metallomix, the company is developing disease-modifying drugs based on isotopically modified zinc for the treatment of diseases such as cancer, neurodegenerative diseases and metabolic disorders.
Petukhov shared with Cure five essential tips for biotech entrepreneurs on building a resilient company—from assembling the right team to avoiding trends in indication targets.
#1: It takes a village to raise a biotech startup
"A lot of scientists in academia-based startups are comfortable in academia—there may be a sense of security or familiarity," said Petukhov. "But if you really want to build a startup, you’ll need to take the plunge and move your project out of the lab. An incubator or accelerator is a great environment to be in at this stage—you’ll have plenty of additional resources at your disposal, and there’s a lot of insight to be gleaned from other teams whose projects are at similar stages."
#2: Don't be afraid to ask for business help
"Scientists who found companies know the science very well, but business is a different ballgame. Good science is of course the cornerstone of any promising biotech startup, but scaling a company is a discipline unto itself. Don't be shy to reach out to people who have already built companies and can advise you in terms of early development," explained Petukhov.
"For example, as a scientist, you may be generating some really exciting data that can be published in good journals. But that doesn't necessarily translate to something that could be of value or serve as an inflection point for a company in terms of attracting seed money or Series A funding from venture capitalists."
Petukhov recommended bringing on experts who know how to use new data to successfully position a company for funding and support.
#3: Plan company leadership to chart how a biotech can generate value
"You need to constantly generate value for the company in order to preserve your ownership of it. But at some point you're going to make a mistake, especially if you have no experience building a company. It doesn't pay to try to do everything yourself," Petukhov noted. He recommended that company founders put together a professional executive team, either full time or part time, to help them with this planning.
#4: Put together your clinical operations team early
"While the value of a company grows with preclinical data, the biggest growth we see is when we start accumulating clinical data. When you're starting to do IND-enabling studies, that's a good time to bring people in," Petukhov recommended.
He advised assembling a clinical operations team that includes a chief medical officer, regulatory experts and people who can design and run clinical trials.
#5: Don't jump on the latest hot indication
There's a trend in biotech for some indications to be more desirable than others, and for those priorities to shift. Petukhov recommended staying focused on your company's indications.
"Don't chase the next hot indication," he advised, highlighting a common mistake among founders. Petukhov explained that industry trends can shift rapidly, citing the example of central nervous system indications, which were once avoided by venture capitalists but are now in vogue. He cautioned against developing "better Ozempic" drugs, as the market may become overcrowded by the time clinical data is available.
Instead, Petukhov emphasized the importance of focusing on unmet medical needs where a company's technology can make a significant impact. Using Metallomix as an example, he stressed the value of staying true to core scientific principles rather than being swayed by fleeting trends. "Don't let a trend pull you away from the core science—that's the differentiator that will give you the edge," Petukhov concluded.