Business Of Biotech
The Business of Biotech is the pod dedicated to leaders of emerging biopharma firms. SUBSCRIBE to our new newsletter at www.bioprocessonline.com/bob. We bring you insight into organizational, finance and funding, HR, clinical, manufacturing, and regulatory challenges you’ll face as you navigate your company from an idea to success in the clinic. Each episode features guest commentary and best practices from accomplished founders and biopharma industry luminaries. The Business of Biotech is produced by Bioprocess Online and Life Science Connect and brought to you by Cytiva.
Business Of Biotech
Business of Biotech 2.0 with Ben Comer
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After nearly five years as host of the Business of Biotech podcast, Matt Pillar is handing the mic over to the voice of the Business of Biotech 2.0, veteran life sciences journalist Ben Comer. On this epsiode, Ben shares his nearly 20-year journey covering the pharmaceutical space, from Haymarket Media to PwC to Pharmaceutical Executive and InVivo magazines, before joining Life Science Connect as Chief Editor at Life Science Leader. He shares stories of the wild ride he's enjoyed along the way, how the stories he's covered have shaped his editorial perspective, and his plans for the next chapter of the Business of Biotech podcast.
Catch Ben's first episode as host next Monday, and every Monday after that. Subscribe to the podcast on your preferred platform and watch the videocast at lifescienceleader.com.
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Find Ben Comer on LinkedIn: https://www.linkedin.com/in/bencomer/
My friend and colleague, ben Comer, has been as astute an observer of pharma and life sciences industry happenings as anyone has for at least the past 17 years. He spent his early days as a medical reporter for Haymarket Media, before a tenure as senior editor at Pharmaceutical Executive Magazine. Then he left the media space for a bit for a stint as senior manager at PwC's Health Research Institute. He came back to Life Sciences Media in 2020 as executive editor at InVivo, before joining us here at Life Science Connect in 2022 as chief editor at Life Science Leader Science Connect in 2022 as chief editor at Life Science Leader. I'm Matt Pillar. This is the Business of Biotech, and what the depth of Ben's still young LinkedIn profile doesn't effectively communicate is just how astute he is. I've been fortunate to spend a lot of time with Ben over the past couple of years and I've been blown away by his ability to talk shop, recalling approvals, deals, clinical successes, clinical failures, personnel moves, launches, closures and other miscellaneous industry scuttlebutt with ease. He's been a student of the space for a long time and it shows and he's a genuinely interesting and interested guy, and that's why, on this 247th episode of the Business of Biotech, I'm over the moon excited to hand the microphone over to him and introduce him to you as your new and vastly improved host of the Business of Biotech.
Matt Pillar:Before we get to know Ben a bit better, I want to take a minute to thank our listeners for embracing this podcast the way you have. Who knew there would be such patience for a guy who dropped out of AP Bio and had no broadcast media experience interviewing the brightest people on the planet? And I want to thank those people the hundreds of amazing guests that we've hosted selfless, tireless, brilliant people who've shared so much so transparently with our listeners. I also want to thank my team Janelle Skemp, bill Pompili, miles Skoda and Annie Murphy in particular, folks who rarely get the limelight. They've been keeping this thing on the rails and never missing an episode since we launched nearly five years ago and never missing an episode since we launched nearly five years ago.
Matt Pillar:I also want to thank some allies the Kristen Polites and Kathy Vincents and Neil Hunters and Ignacio Guerrero-Rosses and Andrew Mielox and Kelly Beals of the world who've introduced us to so many great guests. Not many play the game as well as you all do. It's been an absolute highlight of my career to bumble my way through these episodes with you, but the Business of Biotech 2.0 is coming and it's bringing a big upgrade. You've heard him here before, but now it's time to formally meet your new host, ben Comer. Ben, welcome to the show. I feel funny welcoming you to the show because you've been on the show. But welcome to your new role as host of the Business of Biotech podcast.
Ben Comer:Thanks so much, Matt. I'm really looking forward to it.
Matt Pillar:I'm looking forward to it too. I'm not going to hand over the reins just yet, because I'm going to put you in the hot seat as my final guest today.
Matt Pillar:Fair enough, yeah. So here we go. I want to. Like I said, you've been on the podcast a number of times already. We did a number of episodes that just wrapped up out at JPM, so we've had the fun of co-hosting several episodes, but we've never taken a minute to kind of get to know you and where you came from and what brought you to this station in life. So I want to do as I often do with guests rewind the clock a little bit and talk about your academic upbringing and early years of your career. And I know you earned your degree in media studies, composition and literature, like 20 years ago. That's an interesting degree combination and I'm curious at that time what you intended to do with it.
Ben Comer:Yeah, I was always interested in books and writing writing probably because it was the only thing that I really excelled at in school. I wasn't so good at a lot of other subjects. But I was a smart advisor at the College of Charleston who early on suggested to me that I should pursue a journalism degree instead of an English degree because, as he called it, it was a trade that I could practice. It's a little more dynamic than an English degree and while there wasn't a strictly journalism degree at the College of Charleston, media studies and communication was kind of the closest they came and I had a chance to write on the George Street Observer, which was the College of Charleston newspaper. Really enjoyed doing that.
Ben Comer:At the time. Governor Mark Sanford, a governor of South Carolina, who you know a couple of years later went temporarily MIA in Buenos Aires with his mistress, so I couldn't ask him hard questions about that at the time, but I enjoyed interviewing powerful people. I kind of got a taste for it at the George Street Observer. And you know, I got my degree at the College of Charleston and, with no real prospects whatsoever, moved to New York City to be a writer, which sounds naive.
Matt Pillar:It sounds romantic Ben.
Ben Comer:Yeah Well, yeah, there's a lot of like sleeping on couches and pounding the pavement, of like sleeping on couches and pounding the pavement trying to find a job, and what I noticed was that what seemed to stick out to potential employers was a little note at the bottom of my resume which said I was a certified pharmaceutical technician, which was something that I did. I worked at a pharmacy a kind of mom and pop compounding pharmacy in my hometown of North Augusta, South Carolina, growing up, and when I went to college in Charleston, south Carolina, I worked at another similar kind of pharmacy and realized at some point that I could kick my hourly wage up by a few dollars if I took the test and got certified as a pharmaceutical technician. So I did that, Never really thought too much about it, didn't have a kind of driving interest in the drug industry at that point. But I worked in pharmacy for a number of years, got my degree moved up to New York, started passing out resumes and you know I'd get a lot of questions about that.
Ben Comer:You were a certified pharmaceutical technician and ultimately I think that's what landed me some early writing jobs, including the job at Haymarket Media with medical marketing and media initially, and I was still. You know, I still just wanted to be a writer, I wanted to write fiction. But I, you know, following along the advice of my advisor, I thought, well, you know this is a trade, you know it's a business trade, you know I can get paid enough to at least pay rent in New York city. And you know, practice my, my other writing on my off time. So, anyway, that's, that's kind of how I got started.
Matt Pillar:Yeah, it's interesting, you know, when I look at people who have similar backgrounds, they come out of college with an English degree or a media degree, no-transcript have embraced it like you've embraced it, uh, to, to, to an incredible degree, like you're. You're uh your knowledge of the space, your recall your history with the space? Like it's very clear to me that you're a student of it. When did that begin to stick and why, like, why did it stick that? You were like you know what I'm going to? I'm going to plant my flag here in the life sciences.
Ben Comer:I think honestly, matt, a lot of it had to do with some really important mentors that I had along the way, the first being at medical marketing and Media, which was a publication that was focused really exclusively on the commercial function of biopharma. So when I started there, you know I was covering campaigns, I was covering different kinds of sales practices, but I immediately got interested in the policy environment, and a lot of that was because of Matthew Arnold, who was a senior reporter on medical marketing and media at the time. I admired him in a lot of ways. He had kind of ice water in his veins, never got upset about anything, could ask hard questions to anyone and really just kind of improved my writing early on. He would edit my stuff before it was published, but he sort of helped turn me on to the policy environment.
Ben Comer:At that time in 2008, when I started at Medical Marketing and Media, tom Abrams was kind of like the Pope of DDMAC, which was the Division of Drug Marketing, advertising and Communication. The office has been been upgraded to OPDP and Tom is no longer around. But the issue then was how can pharma companies advertise on social media with a limited, you know, character, having to include various side effects. So I thought that that kind of intersection of regulatory and commercial was really fascinating and I got to cover a number of things while at MMM. You know, aside from just sort of campaigns, I mean the ACA, you know, known not so affectionately at the time as Obamacare passed in 2010. Passed in 2010. Part of that was the Physician Payment Sunshine Act, which had a big impact on the way that pharma promotes things. We got into a lot of philosophical conversations about what's the fair market value of a cup of coffee, is candy, a snack or a meal? You know, as people tried to work through these new regulations, as they came out, I thought that was really fascinating. I mean, another issue that was surfacing around that time was driven really by this husband and wife team at Dartmouth who were pushing for drug fact boxes in labels, which was this idea of modernizing drug labels to make them more understandable to patients by presenting clinical results in very quick, easy to understand boxes. I followed that for years and an FDA advisory committee recommended using, you know, adopting, those drug facts boxes and then, I think in 2015, backed off from that said, there wasn't enough evidence, so it never went forward, but it was really interesting.
Ben Comer:And then, you know, just before I left MMM in 2011, there was this case about a sales rep who had promoted a drug off-label to a government informant, kind of in disguise, and it was a guy at Orphan Medical, alfred Coronia. This is a subsidiary of Jazz Pharmaceuticals, but he had promoted a bunch of different uses for this medicine off-label and when they got tapped for it, they came back and said, well, this kind of speech is protected by the First Amendment, and it ended up winding around to an appeals court, second Circuit in New York City, where the government lost the case and Coronia won, basically making the case. As long as it's truthful and not misleading. You know, we should be allowed to talk about this, since everyone else is, you know, aside from drug manufacturers, and that was really interesting to me. I continued to cover that topic a little bit, moving over to PharmExec, pharmaceutical Executive Magazine in 2011.
Ben Comer:And there I had another really important mentor in Bill Looney, who was the editor-in-chief at the time. He was a former Pfizer employee, had worked at Pfizer for a number of years, was incredibly connected across the industry and he really one of the things that I think he really talked to me about or pushed me to really think about more was the global implications of pharma or the global operations, and to think about the biopharmaceutical industry in a global context. He also really encouraged me to get out of the office and attend meetings and, you know, interview people in person as much as possible, and so you know, I think Bill, too, was a really important mentor for me, just in helping me, you know, understand what it was that I liked, what I was interested in and how I should think about the industry. And the nice thing about Pharmaceutical Executive Magazine was it had a much broader editorial purview. It was not just focused on commercial issues. It was focused on really the whole gamut from early stage discovery to R&D up through commercialization, also including regulatory policy and a number of other things.
Ben Comer:But I did some things at Farm Exec that I was proud of.
Ben Comer:I went up to Tarrytown, new York, just as one example, and interviewed Lynn Schleifer and George Jacopoulos at Regeneron for a kind of early profile of that company in the spring of 2013. Another thing that I liked at PharmExec was every December we published a pipeline report, so I'd interview a bunch of people and we try to figure out which drugs were going to have the biggest impact and also the biggest sales the following year. And so that was helpful in a couple of ways, because it helped me kind of understand what the cutting edge of the industry was, what the big drug approvals might be for the coming year. And I also at that time was living in an apartment in Brooklyn with a guy named Tilton Widrow who was a conceptual artist who had graduated from the Pratt Institute, and I'm proud to say that I was able to get Tilton to design a cover for one of those pipeline issues, and so it was really fun to get him involved and to see his cover design come to fruition.
Matt Pillar:Well, that's pretty cool. You should have brought a prop. I'd like to see that.
Ben Comer:I know I should I probably still have like the actual board that he made somewhere around.
Matt Pillar:Yeah, yeah, I mean those years at Haymarket and Farm Exec. I mean, obviously, as I said, you really dug in. But then, in 2014-ish I think, you took a step away, as I mentioned, and went to work for PWC. So what was the draw there?
Ben Comer:Yeah, you know, matt, a big part of that was having kids. You know, I was having my first child around that time. I was watching as magazines not just Farm Exec but magazines across the board getting kind of thinner, magazines across the board getting kind of thinner Advertisers were understandably looking for, you know, a better, more clear ROI with these, you know emerging digital channels and weren't as interested anymore in doing a kind of blanket advertising buy in a magazine. And so I had done some webcasts with PwC, where you know they hadC, where they had participated in a kind of paid webinar program with pharmaceutical executive, and so I had moderated a couple of those and one of the gentlemen who was on one of those podcasts recommended me for a job at PwC when an opening happened at the Health Research Institute, which, just quickly, the Health Research Institute was a really interesting group because it combined a payer, provider and pharma in a single research group. So we conducted executive surveys across providers, across insurance executives, across biopharmaceutical executives. We would conduct interviews and then we would produce these reports on our findings and then, after the report was published, we would go around the country and present the results to PwC's various pharmaceutical clients, and so I really enjoyed that.
Ben Comer:A lot of times it was myself and Alec Gaffney who kind of led the pharma part of the team. Alec Gaffney has studied pharmaceutical regulatory issues for than he does. He's now leads Agency IQ, which is a regulatory information service under the auspices of Politico. But anyway, alec and I went around and presented findings from our reports all over the place and it was, I think, a good experience for me. But and I stayed there for five and a half years but ultimately found that I really missed the kind of editorial bullpen and wasn't so crazy by the end of it of the kind of writing by committee. You know where you have a whole lot of fingers in the final pie, which is your report that you're producing and putting your name on. In the final pie, which is your report that you're producing and putting your name on. And so, um, uh, when an opportunity opened at uh in vivo magazine, which uh was a publication I'd admired for a long time, um, I jumped on it.
Matt Pillar:Yeah, so you went to work there in 2020, what kind of work were you doing there?
Ben Comer:Yeah, I, um, I was writing features primarily.
Ben Comer:Uh, you know, I I I covered some of the kind of pet topics that I've mentioned previously.
Ben Comer:One of the things I guess areas that I feel like I improved on through my work at InVivo was profiles produced every year called Rising Leaders, where we would identify usually young people who were doing something new and interesting in the biopharmaceutical industry and we'd conduct long interviews with them and write long profiles about those individuals and through that experience I think I really started to like the profile as a format and started to try to to like the profile as a format and started to try to, you know, improve, you know my profiles and how I like a profile with ideas.
Ben Comer:You know a profile with issues. So if you can present you know a person and get to who they are, but also present you know any sort of unique ideas or issues that are kind of radiating out from that person for whatever reason, I found that I really enjoyed that. I also, while I was at InVivo, had an opportunity to write an article or two for some of the sister publications that were at the time under the Informa umbrella publications like Pink Sheet and Script, which again, I had admired and kept up with for really my whole career. So I was really pleased to kind of check that off, a list of places where I'd been published.
Matt Pillar:Yeah, those profiles that you said you got good at and enjoyed at InVivo sounds kind of like the business of biotech just on paper, doesn't it?
Ben Comer:Yeah, it does, and I've definitely carried that over to Life Science Leader and the kind of written profiles that I work on. But absolutely with the business of biotech as well, I think you know those skills will be useful to me. You know, going forward.
Matt Pillar:For sure, yeah. What brought you to us at Life Science Connect and Life Science Leader?
Ben Comer:Well, I was familiar with Life Science Leader and actually had given a presentation alongside Rob Wright, who was the previous editor of Life Science Leader, at an event held by Bio Utah. I was at PwC at the time, so I was there presenting the findings on one of the reports that we produced.
Ben Comer:I'll just give a shout out really quick to two reports that I was proud of at PwC. One of them was on value-based contracts, which at the time was a sort of new idea, and we produced a report about how those contracts work when companies might consider those. That I thought was pretty interesting and got some interesting response. And then another report that I worked or led at the Health Research Institute was on what we called third-party value assessors. So these are groups like ICER, the Institute for Clinical and Economic Review, who were, you know, using various methodologies to try to come up with what a fair price is for a drug as an independent or quasi-independent group, and so I enjoyed working on. There was a number of projects that I really enjoyed working on at PwC, also within the regulatory center, but anyway, I was presenting on one of those reports at BioUtah with Rob Wright.
Ben Comer:I had a chance to meet him and talk to him, get to know Life Science Leader a little bit better. And then, when Rob retired, a recruiter reached out to me from Life Science Connect and it was very appealing to be a chief editor for the first time. I'd been a senior editor, I'd been an executive editor, I had been just a normal old reporter but I'd never been a chief editor. And the idea of having a final say on what a publication publishes ultimately and the kind of angle and lens, that stamp, if you will, that we're putting on the stories that we produce, I like that idea a lot and it seemed like, you know, a smart next step for me in my career.
Matt Pillar:Yeah, yeah, I mean, you've demonstrated time and time again your proficiency around. You know the business issues related to pharma and biotech and regulatory, but you're also a pretty good student of the scientific game. Where does that come from, like your interest in the science behind some of these therapies that you write about?
Ben Comer:I try to, matt, but I don't have a science background. I do find it very interesting and I'm always kind of amazed by people who do have deep scientific background. You know, I really struggled, just even in high school, chemistry, and you know, struggled in college level biology, and it wasn't, you know, it was sort of like. You know, the deeper I got into it, into the minutia, the more it seemed to kind of run from my mind. I just didn't.
Ben Comer:You know, like I said before, you know I always loved writing, love the arts, loved English, but the kind of really hard organic chemistry, science stuff, man it was. It was tough for me but I feel, like you know, when I'm learning about a drug mechanism or I'm learning about, you know, the various ways a drug functions in the body, I, you know, I'm by no means any sort of expert, but it's interesting to me in that context, perhaps more interesting than you know, the way that my organic chemistry class was set up to see, you know, this agent come into a body, to see it have this effect, this side effect. It was compelling and I think that fact is what makes my brain willing to kind of receive that information and, to the extent that I can. Again like I'm certainly not a scientist, don't have a science background, but I try to learn as much about a drug as I can if I'm writing about it.
Matt Pillar:Yeah, and you see, I mean it's a valuable skill for you to have and I've seen it in action where you know you and I have sat in plenty of meetings with you know young biotech founders, biotech execs, who are talking about a drug and a mechanism of action, and I see your wheels start turning and you're drawing connections to things that you've seen in the past in that space and that indication you know. So it is a valuable interest area.
Ben Comer:Yeah, I mean, part of it is. I'll also recall things It'll bring to mind. You know, because I, you know, I used to think that I was the only reporter that immediately forgot stories, you know, after I wrote them. But I asked around, you know, and it's not an uncommon phenomenon, but I do find that when I'm talking to people or people are telling me about you know what they're working on, it will jog my memory. It will make me remember things that I've covered in the past, like just, for example, with the explosion and excitement around GLP-1, obesity candidates and diabetes candidates.
Ben Comer:I remember covering the launch of Victoza, which was the kind of precursor to Ozempic. It was not indicated for weight loss, it was a GLP-1 inhibitor. And Novo Nordisk, it was a diabetes treatment. But it was very clear almost immediately that there was this weight loss side effect. And so, you know, I think I like being able to tie those strings together. You know, when I, for example, I'm covering, you know, the ups and downs of the current GLP market, it brings back to mind some of the things that happened with Victoza, all the way back to medical marketing and media.
Matt Pillar:Yeah, yeah, I like the anecdotes. What are some other sort of memorable or noteworthy events that you've covered, wow?
Ben Comer:or the events that you've covered. Wow, you know, while I was at InVivo, I started to cover the newly burgeoning psychedelic development space.
Matt Pillar:I've seen you revisit that in recent months and years. Yeah with us.
Ben Comer:Yeah, I've carried that over to Life Science Leader. That was just a really fascinating area. I remember when J&J Spravato was approved, which is an inhaled ketamine and you know, for patients that use that drug they have to sit, you know, in a psychiatrist's office for a couple of hours, you know, during the course of therapy. And so when we started talking about some of the classic psychedelics going into real, you know, drug development programs, I immediately thought about Spravato as a kind of guide. And I remember, at In Vivo, starting off speaking with, you know, product marketers at Spravato with psychiatrists that had used Spvado to try to understand, you know what, what the kind of possibilities were for some of these new psychedelic candidates that were that were coming into into development. And now you know we may be approaching, you know, before too long, an approval of one of those.
Matt Pillar:Yeah, yeah, it's pretty wild.
Ben Comer:Yeah, yeah, it's pretty wild. So how do you feel about podcast, ben Matt I? You know I I, over the years, have participated in a lot of different kinds of video, whether it's video interviews, whether it's, you know, moderating panels. I've been a participant on panels. I've never done the pot, I've never actually hosted a podcast, and I think it's a bit of a different format. It's more conversational and I think there's going to be a learning curve with it. I think I'm excited a lot by the format because it scratches various itches that I have in learning about people through profiles and exploring, you know, all sorts of different issues, whether they're regulatory or policy related or commercial related. I like the format. I think I'm going to have to get good at it, though I don't think I'm there yet.
Matt Pillar:So you're too humble. I've said it a number of times in the, in the, in the opportunities we've had to work together on these things. I am, I couldn't be more thrilled about you taking this over because, uh, you're good at it, whether you, whether you recognize it yet or not, I mean, and I think you're going to do fan fantastic.
Ben Comer:I'm curious about, uh, you know what, what your thoughts are for the future of the business of biotech, what business of biotech 2.0 might look like. I know you and I have had a couple of kind of conversations, as we used to call them back in the day people that I really want to have on that. I kind of am keeping to the side and working on. I'll also continue, of course, to welcome pitches from our PR and communication department colleagues. I'd say, broadly, though, I'm looking for interesting stories. I'm looking for organizational pivots, challenges that executives or companies have been able to overcome, how they recovered from a failure, an explanation of novel business model strategies.
Ben Comer:I'm looking for conversations, at the end of the day, that offer insights into the biopharmaceutical business to help company builders, which is our primary audience for the business of biotech. I also remain interested in policy and regulatory issues, as well as funding and finance topics, so I'll have experts on that aren't necessarily drug developers to help explain those issues as they pop up. The podcast will be open too. This is something of a change, I think, matt, from when you hosted was. The podcast will be open to drug developers of all stripes, regardless of drug mechanism.
Matt Pillar:That's got to be music to some listeners ears, because I've delivered so many no's over the years. We're strictly talking biologics here and that was sort of rooted in our history, but I think it's high time we open that up.
Ben Comer:Yeah, I mean there's all kinds of interesting activity happening on the small molecule side, obviously, and then emerging advanced therapeutics realm. There's a lot of different drug mechanisms and new ones coming up all of the time that I'm very interested to talk about. I'm also, you know, I'm looking for executives at small, medium and large biopharma too. I want to make that clear. I think each has an interesting perspective on the industry, and you know small companies are, you know, often aspire to become big companies, and so I think there's real value in talking to folks that work at the larger organizations. I also want to talk to commercial folks. You know that's an area that I kind of started out with, and I think it's a really interesting space.
Ben Comer:You know we'll cover geopolitical issues as they relate to biopharma. I don't want to make the business of biotech a political show, but we also won't shy away from those issues when they're relevant. I think that's an important piece. And just on the point about commercial, no matter how good a drug is, it doesn't work if people don't take it. You've probably heard that refrain talking to executives before, matt. I think it's true. So the commercial function is one that I want to keep having guests on as well. Can you give?
Matt Pillar:us any hints as to who might be coming up in the near term?
Ben Comer:Yeah, well, just on that point. On commercial, we have Al Nilem's chief commercial officer, who will be appearing in the not-too-distant future. Yeah, nice, you're going to keep up with our old buddy Alan Shaw officer who will be uh, who will be appearing um in the not too distant future.
Matt Pillar:Yeah, nice, you're going to keep. Uh, you're going to keep. Keep up with our old buddy Alan Shaw. I know he's got expectations.
Ben Comer:Alan Shaw will, uh, 100% remain, uh, uh, a guest of the business of biotech. I will, uh, I'll talk with Alan anytime he wants to talk to me. So, uh, I'm I'm happy to say that, that Alan will not be going away.
Matt Pillar:I'm happy to hear that he's. He's been good for ratings. He loves us and our audience loves him. Well, ben, uh, I think this is this has been a fantastic, fantastic interview, great way for our audience to get to know you a little bit more. As I said, they've already heard your, heard your voice, but, um, I'm I couldn't be more thrilled about this. Like I'm so excited for business, biotech 2.0, I'm so glad you're the perfect guy for it. I think you're gonna do fantastic and uh, and I and I wish you luck, man thanks a lot, matt.
Ben Comer:Uh, it means a lot, your endorsement. I really appreciate it awesome.
Matt Pillar:So that's ben comer, host of the Business of Biotech 2.0, and I'm Matt Pillar signing off. From now on, listen and subscribe to the podcast wherever you like, but make sure you watch the videocast under the Business of Biotech tab at lifescienceleadercom. Ben will be back with you next Monday and every Monday after that, so stay tuned. Thanks for listening.
