{"version":"1.0.0","segments":[{"speaker":"John Simboli","startTime":0.0,"endTime":3.0,"body":"Mike, what led you"},{"speaker":"John Simboli","startTime":0.0,"endTime":3.0,"body":"to your role as CEO of Siona"},{"speaker":"John Simboli","startTime":3.0,"endTime":3.96,"body":"Therapeutics?"},{"speaker":"Mike Cloonan","startTime":4.14,"endTime":7.003,"body":"My journey into"},{"speaker":"Mike Cloonan","startTime":4.14,"endTime":7.003,"body":"biotech first started when I was"},{"speaker":"Mike Cloonan","startTime":7.062,"endTime":10.284,"body":"at Bain, doing strategy"},{"speaker":"Mike Cloonan","startTime":7.062,"endTime":10.284,"body":"consulting. So I started after"},{"speaker":"Mike Cloonan","startTime":10.343,"endTime":13.922,"body":"business school, went to Bain in"},{"speaker":"Mike Cloonan","startTime":10.343,"endTime":13.922,"body":"Boston, working on strategy"},{"speaker":"Mike Cloonan","startTime":13.982,"endTime":17.859,"body":"consulting. And I was working on"},{"speaker":"Mike Cloonan","startTime":13.982,"endTime":17.859,"body":"a number of different industries"},{"speaker":"Mike Cloonan","startTime":17.919,"endTime":20.961,"body":"at that time, not just"},{"speaker":"Mike Cloonan","startTime":17.919,"endTime":20.961,"body":"healthcare, but I eventually"},{"speaker":"Mike Cloonan","startTime":21.021,"endTime":24.003,"body":"started to specialize in"},{"speaker":"Mike Cloonan","startTime":21.021,"endTime":24.003,"body":"healthcare and pharma and"},{"speaker":"Mike Cloonan","startTime":24.063,"endTime":27.344,"body":"medical devices, and really got"},{"speaker":"Mike Cloonan","startTime":24.063,"endTime":27.344,"body":"me energized about that"},{"speaker":"Mike Cloonan","startTime":27.403,"endTime":31.221,"body":"industry, really because of what"},{"speaker":"Mike Cloonan","startTime":27.403,"endTime":31.221,"body":"you can do from a greater good,"},{"speaker":"Mike Cloonan","startTime":31.281,"endTime":34.681,"body":"from impacting patients and"},{"speaker":"Mike Cloonan","startTime":31.281,"endTime":34.681,"body":"families. I started to feel a"},{"speaker":"Mike Cloonan","startTime":34.74,"endTime":38.021,"body":"strong connection to that"},{"speaker":"Mike Cloonan","startTime":34.74,"endTime":38.021,"body":"industry. And at that time, I"},{"speaker":"Mike Cloonan","startTime":38.081,"endTime":41.839,"body":"felt like this is the industry I"},{"speaker":"Mike Cloonan","startTime":38.081,"endTime":41.839,"body":"want to get into. And I was in"},{"speaker":"Mike Cloonan","startTime":41.898,"endTime":45.537,"body":"Boston and made the jump into"},{"speaker":"Mike Cloonan","startTime":41.898,"endTime":45.537,"body":"biotech at that time, which was"},{"speaker":"Mike Cloonan","startTime":45.597,"endTime":48.698,"body":"back in 2003, and I joined"},{"speaker":"Mike Cloonan","startTime":45.597,"endTime":48.698,"body":"Biogen, one of the bigger"},{"speaker":"Mike Cloonan","startTime":48.758,"endTime":52.099,"body":"biotechs, here in Boston and"},{"speaker":"Mike Cloonan","startTime":48.758,"endTime":52.099,"body":"across the US, and spent 14"},{"speaker":"Mike Cloonan","startTime":52.158,"endTime":55.797,"body":"years at Biogen. A great run,"},{"speaker":"Mike Cloonan","startTime":52.158,"endTime":55.797,"body":"great opportunity to learn in a"},{"speaker":"Mike Cloonan","startTime":55.857,"endTime":59.376,"body":"bigger biotech company. Did"},{"speaker":"Mike Cloonan","startTime":55.857,"endTime":59.376,"body":"various roles, starting in more"},{"speaker":"Mike Cloonan","startTime":59.436,"endTime":63.134,"body":"finance and business development"},{"speaker":"Mike Cloonan","startTime":59.436,"endTime":63.134,"body":"and strategy, then eventually"},{"speaker":"Mike Cloonan","startTime":63.194,"endTime":66.355,"body":"switched into the commercial"},{"speaker":"Mike Cloonan","startTime":63.194,"endTime":66.355,"body":"organization and running"},{"speaker":"Mike Cloonan","startTime":66.415,"endTime":70.292,"body":"different markets and countries,"},{"speaker":"Mike Cloonan","startTime":66.415,"endTime":70.292,"body":"but really saw, you know, a full"},{"speaker":"Mike Cloonan","startTime":70.352,"endTime":74.05,"body":"scope of responsibilities across"},{"speaker":"Mike Cloonan","startTime":70.352,"endTime":74.05,"body":"my time at Biogen. And I just"},{"speaker":"Mike Cloonan","startTime":74.11,"endTime":77.629,"body":"continued to fall in love with"},{"speaker":"Mike Cloonan","startTime":74.11,"endTime":77.629,"body":"the work that we were doing,"},{"speaker":"Mike Cloonan","startTime":77.689,"endTime":81.208,"body":"launching medicine, seeing the"},{"speaker":"Mike Cloonan","startTime":77.689,"endTime":81.208,"body":"impact that it would have on"},{"speaker":"Mike Cloonan","startTime":81.268,"endTime":84.787,"body":"patients, specifically in areas"},{"speaker":"Mike Cloonan","startTime":81.268,"endTime":84.787,"body":"like MS, hemophilia, spinal"},{"speaker":"Mike Cloonan","startTime":84.847,"endTime":88.306,"body":"muscular atrophy. And then,"},{"speaker":"Mike Cloonan","startTime":84.847,"endTime":88.306,"body":"after 14 years there, had this"},{"speaker":"Mike Cloonan","startTime":88.366,"endTime":92.124,"body":"great experience, I felt like I"},{"speaker":"Mike Cloonan","startTime":88.366,"endTime":92.124,"body":"was ready for the next role for"},{"speaker":"Mike Cloonan","startTime":92.184,"endTime":95.822,"body":"me, which ended up being a Chief"},{"speaker":"Mike Cloonan","startTime":92.184,"endTime":95.822,"body":"Operating Officer, role in a"},{"speaker":"Mike Cloonan","startTime":95.882,"endTime":99.58,"body":"more mid sized company, which"},{"speaker":"Mike Cloonan","startTime":95.882,"endTime":99.58,"body":"was Sage Therapeutics, which was"},{"speaker":"Mike Cloonan","startTime":99.64,"endTime":102.921,"body":"also focused on CNS, but more on"},{"speaker":"Mike Cloonan","startTime":99.64,"endTime":102.921,"body":"depression, postpartum"},{"speaker":"Mike Cloonan","startTime":102.98,"endTime":106.738,"body":"depression, but still sort of a"},{"speaker":"Mike Cloonan","startTime":102.98,"endTime":106.738,"body":"neurology CNS connection. And I"},{"speaker":"Mike Cloonan","startTime":106.798,"endTime":110.079,"body":"felt like it was a great"},{"speaker":"Mike Cloonan","startTime":106.798,"endTime":110.079,"body":"opportunity for me to leverage"},{"speaker":"Mike Cloonan","startTime":110.139,"endTime":113.956,"body":"all of the things I had learned"},{"speaker":"Mike Cloonan","startTime":110.139,"endTime":113.956,"body":"at Biogen over the 14 years, but"},{"speaker":"Mike Cloonan","startTime":114.016,"endTime":117.655,"body":"maybe have a broader impact, you"},{"speaker":"Mike Cloonan","startTime":114.016,"endTime":117.655,"body":"know, a bigger role, broader"},{"speaker":"Mike Cloonan","startTime":117.714,"endTime":121.293,"body":"impact, within a more of a mid"},{"speaker":"Mike Cloonan","startTime":117.714,"endTime":121.293,"body":"sized company. And spent four"},{"speaker":"Mike Cloonan","startTime":121.353,"endTime":124.514,"body":"years at Sage and had another"},{"speaker":"Mike Cloonan","startTime":121.353,"endTime":124.514,"body":"great experience there,"},{"speaker":"Mike Cloonan","startTime":124.574,"endTime":128.272,"body":"experienced some some tremendous"},{"speaker":"Mike Cloonan","startTime":124.574,"endTime":128.272,"body":"highs and some challenges, as"},{"speaker":"Mike Cloonan","startTime":128.332,"endTime":131.971,"body":"every biotech does. And having"},{"speaker":"Mike Cloonan","startTime":128.332,"endTime":131.971,"body":"done that for four years, then"},{"speaker":"Mike Cloonan","startTime":132.03,"endTime":135.729,"body":"you sort of start to feel like"},{"speaker":"Mike Cloonan","startTime":132.03,"endTime":135.729,"body":"you've been the Chief Operating"},{"speaker":"Mike Cloonan","startTime":135.788,"endTime":139.427,"body":"Officer, you've had all this"},{"speaker":"Mike Cloonan","startTime":135.788,"endTime":139.427,"body":"past experience, and do you want"},{"speaker":"Mike Cloonan","startTime":139.487,"endTime":143.006,"body":"to make that jump? So your"},{"speaker":"Mike Cloonan","startTime":139.487,"endTime":143.006,"body":"question was, what made you want"},{"speaker":"Mike Cloonan","startTime":143.066,"endTime":146.585,"body":"to be a CEO? And it's through"},{"speaker":"Mike Cloonan","startTime":143.066,"endTime":146.585,"body":"experiences that you build up"},{"speaker":"Mike Cloonan","startTime":146.645,"endTime":150.403,"body":"over time that sort of puts you"},{"speaker":"Mike Cloonan","startTime":146.645,"endTime":150.403,"body":"in a position to decide is that"},{"speaker":"Mike Cloonan","startTime":150.462,"endTime":154.161,"body":"something you think that would"},{"speaker":"Mike Cloonan","startTime":150.462,"endTime":154.161,"body":"be meaningful? Do you think you"},{"speaker":"Mike Cloonan","startTime":154.22,"endTime":157.859,"body":"could make an impact? I started"},{"speaker":"Mike Cloonan","startTime":154.22,"endTime":157.859,"body":"getting calls from recruiters"},{"speaker":"Mike Cloonan","startTime":157.919,"endTime":161.617,"body":"about various CEO roles, and,"},{"speaker":"Mike Cloonan","startTime":157.919,"endTime":161.617,"body":"you know, really felt like I was"},{"speaker":"Mike Cloonan","startTime":161.677,"endTime":165.494,"body":"ready to take that next step and"},{"speaker":"Mike Cloonan","startTime":161.677,"endTime":165.494,"body":"lead a company in that way. And"},{"speaker":"Mike Cloonan","startTime":165.554,"endTime":169.133,"body":"fell in love with Sionna. That"},{"speaker":"Mike Cloonan","startTime":165.554,"endTime":169.133,"body":"ultimately was the job that I"},{"speaker":"Mike Cloonan","startTime":169.193,"endTime":172.951,"body":"took. I joined the company back"},{"speaker":"Mike Cloonan","startTime":169.193,"endTime":172.951,"body":"in 2021 and at the time, it was"},{"speaker":"Mike Cloonan","startTime":173.01,"endTime":175.933,"body":"a 12 person biotech. Very small,"},{"speaker":"Mike Cloonan","startTime":173.01,"endTime":175.933,"body":"very early stage"},{"speaker":"Mike Cloonan","startTime":175.993,"endTime":179.512,"body":"research-focused company at that"},{"speaker":"Mike Cloonan","startTime":175.993,"endTime":179.512,"body":"time, but I saw tremendous"},{"speaker":"Mike Cloonan","startTime":179.572,"endTime":183.21,"body":"potential of what we could build"},{"speaker":"Mike Cloonan","startTime":179.572,"endTime":183.21,"body":"and do within Sionna. And so"},{"speaker":"Mike Cloonan","startTime":183.27,"endTime":187.088,"body":"that's sort of my career arc, as"},{"speaker":"Mike Cloonan","startTime":183.27,"endTime":187.088,"body":"to how I got to where I got to,"},{"speaker":"Mike Cloonan","startTime":187.147,"endTime":190.965,"body":"and why, and I can get into more"},{"speaker":"Mike Cloonan","startTime":187.147,"endTime":190.965,"body":"why I picked Sionna, but it was"},{"speaker":"Mike Cloonan","startTime":191.025,"endTime":194.365,"body":"a great opportunity, again, to"},{"speaker":"Mike Cloonan","startTime":191.025,"endTime":194.365,"body":"leverage 20-plus years of"},{"speaker":"Mike Cloonan","startTime":194.425,"endTime":197.825,"body":"experience to really help a"},{"speaker":"Mike Cloonan","startTime":194.425,"endTime":197.825,"body":"company achieve its goals, to"},{"speaker":"Mike Cloonan","startTime":197.885,"endTime":201.404,"body":"get patients the medicines that"},{"speaker":"Mike Cloonan","startTime":197.885,"endTime":201.404,"body":"we were working on. And you"},{"speaker":"Mike Cloonan","startTime":201.464,"endTime":205.222,"body":"know, we've seen now, been here"},{"speaker":"Mike Cloonan","startTime":201.464,"endTime":205.222,"body":"four and a half years, and have"},{"speaker":"Mike Cloonan","startTime":205.281,"endTime":208.92,"body":"really progressed the company to"},{"speaker":"Mike Cloonan","startTime":205.281,"endTime":208.92,"body":"a point where the excitement"},{"speaker":"Mike Cloonan","startTime":208.98,"endTime":211.545,"body":"only grows, and what the"},{"speaker":"Mike Cloonan","startTime":208.98,"endTime":211.545,"body":"potential we have."},{"speaker":"Mike Cloonan","startTime":212.805,"endTime":217.665,"body":"My process in joining Sionna"},{"speaker":"Mike Cloonan","startTime":212.805,"endTime":217.665,"body":"was, the history of Sionna was,"},{"speaker":"Mike Cloonan","startTime":217.665,"endTime":221.625,"body":"our science spun out of Sanofi"},{"speaker":"Mike Cloonan","startTime":217.665,"endTime":221.625,"body":"back in 2019. So these were"},{"speaker":"Mike Cloonan","startTime":221.625,"endTime":224.385,"body":"programs that actually go back"},{"speaker":"Mike Cloonan","startTime":221.625,"endTime":224.385,"body":"to Genzyme. So you know, if the"},{"speaker":"Mike Cloonan","startTime":224.385,"endTime":228.345,"body":"history, Genzyme merged with"},{"speaker":"Mike Cloonan","startTime":224.385,"endTime":228.345,"body":"Sanofi, and then these programs"},{"speaker":"Mike Cloonan","startTime":228.345,"endTime":230.865,"body":"rolled into Sanofi after that"},{"speaker":"Mike Cloonan","startTime":228.345,"endTime":230.865,"body":"point in time. So these, there's"},{"speaker":"Mike Cloonan","startTime":230.865,"endTime":234.63,"body":"a 15-year history to the"},{"speaker":"Mike Cloonan","startTime":230.865,"endTime":234.63,"body":"programs that we have at Sionna."},{"speaker":"Mike Cloonan","startTime":234.63,"endTime":239.19,"body":"And when we spun out in 2019 we"},{"speaker":"Mike Cloonan","startTime":234.63,"endTime":239.19,"body":"had two co-founders of the"},{"speaker":"Mike Cloonan","startTime":239.19,"endTime":242.31,"body":"organization that came out of"},{"speaker":"Mike Cloonan","startTime":239.19,"endTime":242.31,"body":"Sanofi. They had been working on"},{"speaker":"Mike Cloonan","startTime":242.31,"endTime":244.71,"body":"these programs for a long period"},{"speaker":"Mike Cloonan","startTime":242.31,"endTime":244.71,"body":"of time, and so they were the"},{"speaker":"Mike Cloonan","startTime":244.71,"endTime":247.11,"body":"original founders of the"},{"speaker":"Mike Cloonan","startTime":244.71,"endTime":247.11,"body":"company. They took some of the"},{"speaker":"Mike Cloonan","startTime":247.11,"endTime":251.07,"body":"scientific team with them from"},{"speaker":"Mike Cloonan","startTime":247.11,"endTime":251.07,"body":"Sanofi to start Sionna. And it"},{"speaker":"Mike Cloonan","startTime":251.07,"endTime":254.97,"body":"was at that time that we got the"},{"speaker":"Mike Cloonan","startTime":251.07,"endTime":254.97,"body":"seed capital for the company was"},{"speaker":"Mike Cloonan","startTime":254.97,"endTime":257.97,"body":"put in, and that was from the"},{"speaker":"Mike Cloonan","startTime":254.97,"endTime":257.97,"body":"Cystic Fibrosis Foundation, RA"},{"speaker":"Mike Cloonan","startTime":257.97,"endTime":263.715,"body":"capital and TPG, and that's how"},{"speaker":"Mike Cloonan","startTime":257.97,"endTime":263.715,"body":"Sionna formed. I joined about 18"},{"speaker":"Mike Cloonan","startTime":263.715,"endTime":266.655,"body":"months after that, so I was not"},{"speaker":"Mike Cloonan","startTime":263.715,"endTime":266.655,"body":"one of the original founders,"},{"speaker":"Mike Cloonan","startTime":266.655,"endTime":269.715,"body":"but came in very early when"},{"speaker":"Mike Cloonan","startTime":266.655,"endTime":269.715,"body":"that, again, the organization"},{"speaker":"Mike Cloonan","startTime":269.715,"endTime":273.495,"body":"was about 12 people, a group of"},{"speaker":"Mike Cloonan","startTime":269.715,"endTime":273.495,"body":"scientists that mainly had come"},{"speaker":"Mike Cloonan","startTime":273.495,"endTime":277.515,"body":"out of Sanofi. And it was at a"},{"speaker":"Mike Cloonan","startTime":273.495,"endTime":277.515,"body":"time when the company felt like"},{"speaker":"Mike Cloonan","startTime":277.515,"endTime":280.335,"body":"they were starting to turn the"},{"speaker":"Mike Cloonan","startTime":277.515,"endTime":280.335,"body":"corner on the science. Really"},{"speaker":"Mike Cloonan","startTime":280.335,"endTime":283.26,"body":"wanted to bring in more of a"},{"speaker":"Mike Cloonan","startTime":280.335,"endTime":283.26,"body":"business leader to run the"},{"speaker":"Mike Cloonan","startTime":283.26,"endTime":286.44,"body":"organization. My background is"},{"speaker":"Mike Cloonan","startTime":283.26,"endTime":286.44,"body":"more on the business side than"},{"speaker":"Mike Cloonan","startTime":286.44,"endTime":289.26,"body":"it is on the scientific side,"},{"speaker":"Mike Cloonan","startTime":286.44,"endTime":289.26,"body":"but we had such a strong"},{"speaker":"Mike Cloonan","startTime":289.26,"endTime":293.52,"body":"scientific foundation within"},{"speaker":"Mike Cloonan","startTime":289.26,"endTime":293.52,"body":"Sionna that bringing in somebody"},{"speaker":"Mike Cloonan","startTime":293.52,"endTime":296.88,"body":"with my skill set as more of a"},{"speaker":"Mike Cloonan","startTime":293.52,"endTime":296.88,"body":"business operator made more"},{"speaker":"Mike Cloonan","startTime":296.88,"endTime":300.84,"body":"sense at that time. So I came in"},{"speaker":"Mike Cloonan","startTime":296.88,"endTime":300.84,"body":"very early, again. As not as the"},{"speaker":"Mike Cloonan","startTime":300.84,"endTime":302.567,"body":"original founder of the company,"},{"speaker":"Mike Cloonan","startTime":300.84,"endTime":302.567,"body":"but have seen sort of the growth"},{"speaker":"Mike Cloonan","startTime":302.567,"endTime":304.185,"body":"and development of the programs"},{"speaker":"Mike Cloonan","startTime":302.567,"endTime":304.185,"body":"and of the company over the four"},{"speaker":"Mike Cloonan","startTime":304.425,"endTime":308.625,"body":"and a half years that I've that"},{"speaker":"Mike Cloonan","startTime":304.425,"endTime":308.625,"body":"I've been here."},{"speaker":"John Simboli","startTime":309.225,"endTime":312.105,"body":"When you were"},{"speaker":"John Simboli","startTime":309.225,"endTime":312.105,"body":"sifting through the various"},{"speaker":"John Simboli","startTime":312.165,"endTime":314.925,"body":"opportunities that might come"},{"speaker":"John Simboli","startTime":312.165,"endTime":314.925,"body":"your way, as you're talking with"},{"speaker":"John Simboli","startTime":315.465,"endTime":317.985,"body":"with people putting those in"},{"speaker":"John Simboli","startTime":315.465,"endTime":317.985,"body":"front of you, when you were"},{"speaker":"John Simboli","startTime":317.985,"endTime":320.985,"body":"doing your own research. I've"},{"speaker":"John Simboli","startTime":317.985,"endTime":320.985,"body":"spoken with several CEOs who"},{"speaker":"John Simboli","startTime":320.985,"endTime":325.065,"body":"have said there were hundreds of"},{"speaker":"John Simboli","startTime":320.985,"endTime":325.065,"body":"possibilities they've looked at."},{"speaker":"John Simboli","startTime":325.065,"endTime":328.41,"body":"And then for some, it was a"},{"speaker":"John Simboli","startTime":325.065,"endTime":328.41,"body":"careful winnowing, and then"},{"speaker":"John Simboli","startTime":328.41,"endTime":332.91,"body":"like, okay, that's when I want"},{"speaker":"John Simboli","startTime":328.41,"endTime":332.91,"body":"to put my my bet. For others, it"},{"speaker":"John Simboli","startTime":332.91,"endTime":335.37,"body":"was like falling in love, the"},{"speaker":"John Simboli","startTime":332.91,"endTime":335.37,"body":"way they've described it to me,"},{"speaker":"John Simboli","startTime":336.03,"endTime":339.51,"body":"and some mixture in between. So"},{"speaker":"John Simboli","startTime":336.03,"endTime":339.51,"body":"what was that like for you? Did"},{"speaker":"John Simboli","startTime":339.51,"endTime":342.33,"body":"you know? Could you see it"},{"speaker":"John Simboli","startTime":339.51,"endTime":342.33,"body":"pretty clearly that this was the"},{"speaker":"John Simboli","startTime":342.33,"endTime":342.57,"body":"place?"},{"speaker":"Mike Cloonan","startTime":343.05,"endTime":345.106,"body":"When you start"},{"speaker":"Mike Cloonan","startTime":343.05,"endTime":345.106,"body":"thinking, and I started"},{"speaker":"Mike Cloonan","startTime":345.16,"endTime":348.352,"body":"contemplating being a CEO, one"},{"speaker":"Mike Cloonan","startTime":345.16,"endTime":348.352,"body":"of the things that I thought"},{"speaker":"Mike Cloonan","startTime":348.406,"endTime":351.436,"body":"would be very helpful was to"},{"speaker":"Mike Cloonan","startTime":348.406,"endTime":351.436,"body":"visualize what that company"},{"speaker":"Mike Cloonan","startTime":351.49,"endTime":354.575,"body":"could look like. What is that"},{"speaker":"Mike Cloonan","startTime":351.49,"endTime":354.575,"body":"profile of the company that"},{"speaker":"Mike Cloonan","startTime":354.629,"endTime":358.092,"body":"would be the one that you would"},{"speaker":"Mike Cloonan","startTime":354.629,"endTime":358.092,"body":"jump for? Because I was happy at"},{"speaker":"Mike Cloonan","startTime":358.146,"endTime":361.23,"body":"Sage. I liked the work that we"},{"speaker":"Mike Cloonan","startTime":358.146,"endTime":361.23,"body":"were doing there, and so I"},{"speaker":"Mike Cloonan","startTime":361.284,"endTime":364.585,"body":"wanted to be selective around"},{"speaker":"Mike Cloonan","startTime":361.284,"endTime":364.585,"body":"what that first CEO opportunity"},{"speaker":"Mike Cloonan","startTime":364.639,"endTime":367.994,"body":"would look like. So I had in my"},{"speaker":"Mike Cloonan","startTime":364.639,"endTime":367.994,"body":"mind, sort of a vision of what"},{"speaker":"Mike Cloonan","startTime":368.048,"endTime":371.294,"body":"that could ultimately be, and"},{"speaker":"Mike Cloonan","startTime":368.048,"endTime":371.294,"body":"initially. And so you do get a"},{"speaker":"Mike Cloonan","startTime":371.348,"endTime":374.216,"body":"lot of calls, like you're"},{"speaker":"Mike Cloonan","startTime":371.348,"endTime":374.216,"body":"getting a lot of recruiters"},{"speaker":"Mike Cloonan","startTime":374.27,"endTime":377.03,"body":"reaching out. You're getting"},{"speaker":"Mike Cloonan","startTime":374.27,"endTime":377.03,"body":"different types of CEO"},{"speaker":"Mike Cloonan","startTime":377.084,"endTime":380.06,"body":"opportunities, and you're"},{"speaker":"Mike Cloonan","startTime":377.084,"endTime":380.06,"body":"learning through that process"},{"speaker":"Mike Cloonan","startTime":380.114,"endTime":383.144,"body":"to, sort of, as you said,"},{"speaker":"Mike Cloonan","startTime":380.114,"endTime":383.144,"body":"whittle down what are the ones"},{"speaker":"Mike Cloonan","startTime":383.198,"endTime":385.958,"body":"that seem more or less"},{"speaker":"Mike Cloonan","startTime":383.198,"endTime":385.958,"body":"attractive based on your own"},{"speaker":"Mike Cloonan","startTime":386.012,"endTime":389.258,"body":"interest and where you think you"},{"speaker":"Mike Cloonan","startTime":386.012,"endTime":389.258,"body":"can add value? Because some"},{"speaker":"Mike Cloonan","startTime":389.313,"endTime":392.721,"body":"companies are are just more set"},{"speaker":"Mike Cloonan","startTime":389.313,"endTime":392.721,"body":"up for a specific individual to"},{"speaker":"Mike Cloonan","startTime":392.775,"endTime":395.643,"body":"drive value. But ultimately,"},{"speaker":"Mike Cloonan","startTime":392.775,"endTime":395.643,"body":"with Sionna, it actually"},{"speaker":"Mike Cloonan","startTime":395.697,"endTime":398.89,"body":"surprised me. When I got the"},{"speaker":"Mike Cloonan","startTime":395.697,"endTime":398.89,"body":"call from Sionna, actually the"},{"speaker":"Mike Cloonan","startTime":398.944,"endTime":401.974,"body":"recruiter on the Sionna"},{"speaker":"Mike Cloonan","startTime":398.944,"endTime":401.974,"body":"engagement, I knew the recruiter"},{"speaker":"Mike Cloonan","startTime":402.028,"endTime":405.383,"body":"from a past, from our past life."},{"speaker":"Mike Cloonan","startTime":402.028,"endTime":405.383,"body":"We had worked together in the"},{"speaker":"Mike Cloonan","startTime":405.437,"endTime":408.846,"body":"past. And she said to me, this"},{"speaker":"Mike Cloonan","startTime":405.437,"endTime":408.846,"body":"is the one. This is the one that"},{"speaker":"Mike Cloonan","startTime":408.9,"endTime":412.146,"body":"you're going to take. And it's,"},{"speaker":"Mike Cloonan","startTime":408.9,"endTime":412.146,"body":"I'm telling you, this is the"},{"speaker":"Mike Cloonan","startTime":412.201,"endTime":415.663,"body":"one. I was very pleased to hear"},{"speaker":"Mike Cloonan","startTime":412.201,"endTime":415.663,"body":"that initially, but also curious"},{"speaker":"Mike Cloonan","startTime":415.718,"endTime":418.91,"body":"as to what it was and when she"},{"speaker":"Mike Cloonan","startTime":415.718,"endTime":418.91,"body":"initially described what the"},{"speaker":"Mike Cloonan","startTime":418.964,"endTime":422.211,"body":"opportunity was, which was,"},{"speaker":"Mike Cloonan","startTime":418.964,"endTime":422.211,"body":"again, this very small, 10 to 12"},{"speaker":"Mike Cloonan","startTime":422.265,"endTime":425.565,"body":"person research organization,"},{"speaker":"Mike Cloonan","startTime":422.265,"endTime":425.565,"body":"early stage, going after a very"},{"speaker":"Mike Cloonan","startTime":425.619,"endTime":428.974,"body":"challenging target that had not,"},{"speaker":"Mike Cloonan","startTime":425.619,"endTime":428.974,"body":"that had long been considered"},{"speaker":"Mike Cloonan","startTime":429.028,"endTime":432.383,"body":"undruggable, that was sort of"},{"speaker":"Mike Cloonan","startTime":429.028,"endTime":432.383,"body":"the label that had been attached"},{"speaker":"Mike Cloonan","startTime":432.437,"endTime":435.684,"body":"to  some of the main programs we"},{"speaker":"Mike Cloonan","startTime":432.437,"endTime":435.684,"body":"were working on. And when I"},{"speaker":"Mike Cloonan","startTime":435.738,"endTime":438.714,"body":"heard that, I was like, Well,"},{"speaker":"Mike Cloonan","startTime":435.738,"endTime":438.714,"body":"are you sure you know me?"},{"speaker":"Mike Cloonan","startTime":438.768,"endTime":442.014,"body":"Because that actually doesn't"},{"speaker":"Mike Cloonan","startTime":438.768,"endTime":442.014,"body":"sound like the exact right fit"},{"speaker":"Mike Cloonan","startTime":442.069,"endTime":445.045,"body":"that I was thinking about."},{"speaker":"Mike Cloonan","startTime":442.069,"endTime":445.045,"body":"Because as I talked about my"},{"speaker":"Mike Cloonan","startTime":445.099,"endTime":447.912,"body":"career arc, a lot of my"},{"speaker":"Mike Cloonan","startTime":445.099,"endTime":447.912,"body":"background was sort of later"},{"speaker":"Mike Cloonan","startTime":447.966,"endTime":450.51,"body":"stage, biotech, you know, phase"},{"speaker":"Mike Cloonan","startTime":447.966,"endTime":450.51,"body":"two and beyond,"},{"speaker":"Mike Cloonan","startTime":450.564,"endTime":453.54,"body":"commercialization experience,"},{"speaker":"Mike Cloonan","startTime":450.564,"endTime":453.54,"body":"global experience, bigger"},{"speaker":"Mike Cloonan","startTime":453.594,"endTime":456.732,"body":"organizations. And so, at first,"},{"speaker":"Mike Cloonan","startTime":453.594,"endTime":456.732,"body":"it didn't seem to sort of"},{"speaker":"Mike Cloonan","startTime":456.786,"endTime":460.195,"body":"scratch the profile that I was"},{"speaker":"Mike Cloonan","startTime":456.786,"endTime":460.195,"body":"initially thinking. But as I dug"},{"speaker":"Mike Cloonan","startTime":460.249,"endTime":463.55,"body":"in, that's when I fell in love"},{"speaker":"Mike Cloonan","startTime":460.249,"endTime":463.55,"body":"with Sionna. What really stood"},{"speaker":"Mike Cloonan","startTime":463.604,"endTime":466.85,"body":"out for me, for Sionna, was the"},{"speaker":"Mike Cloonan","startTime":463.604,"endTime":466.85,"body":"fact that you had this small"},{"speaker":"Mike Cloonan","startTime":466.904,"endTime":469.826,"body":"organization that you could"},{"speaker":"Mike Cloonan","startTime":466.904,"endTime":469.826,"body":"build, you know, from that"},{"speaker":"Mike Cloonan","startTime":469.88,"endTime":473.289,"body":"stage, and grow it. If you went"},{"speaker":"Mike Cloonan","startTime":469.88,"endTime":473.289,"body":"into a small, a medium sized to"},{"speaker":"Mike Cloonan","startTime":473.343,"endTime":476.86,"body":"bigger company, you already have"},{"speaker":"Mike Cloonan","startTime":473.343,"endTime":476.86,"body":"a lot of things established. And"},{"speaker":"Mike Cloonan","startTime":476.915,"endTime":480.215,"body":"so you're inheriting something"},{"speaker":"Mike Cloonan","startTime":476.915,"endTime":480.215,"body":"as a CEO, rather than building"},{"speaker":"Mike Cloonan","startTime":480.269,"endTime":483.191,"body":"it. And so there was a real"},{"speaker":"Mike Cloonan","startTime":480.269,"endTime":483.191,"body":"appeal to me that I didn't"},{"speaker":"Mike Cloonan","startTime":483.245,"endTime":486.275,"body":"realize at the time, until I"},{"speaker":"Mike Cloonan","startTime":483.245,"endTime":486.275,"body":"really started talking to a"},{"speaker":"Mike Cloonan","startTime":486.33,"endTime":489.468,"body":"company of this size to say,"},{"speaker":"Mike Cloonan","startTime":486.33,"endTime":489.468,"body":"Gosh, I can really build this"},{"speaker":"Mike Cloonan","startTime":489.522,"endTime":492.877,"body":"from almost the beginning. There"},{"speaker":"Mike Cloonan","startTime":489.522,"endTime":492.877,"body":"is this history and legacy of"},{"speaker":"Mike Cloonan","startTime":492.931,"endTime":496.123,"body":"the programs and the team is"},{"speaker":"Mike Cloonan","startTime":492.931,"endTime":496.123,"body":"there, but we can really build"},{"speaker":"Mike Cloonan","startTime":496.177,"endTime":499.532,"body":"this together. Then the science"},{"speaker":"Mike Cloonan","startTime":496.177,"endTime":499.532,"body":"was the other part of this. We"},{"speaker":"Mike Cloonan","startTime":499.586,"endTime":502.779,"body":"have this very unique target"},{"speaker":"Mike Cloonan","startTime":499.586,"endTime":502.779,"body":"that we're going after. And if"},{"speaker":"Mike Cloonan","startTime":502.833,"endTime":506.187,"body":"you know anything about CF, it's"},{"speaker":"Mike Cloonan","startTime":502.833,"endTime":506.187,"body":"a monopoly that exists today."},{"speaker":"Mike Cloonan","startTime":506.242,"endTime":509.542,"body":"There was a single competitor,"},{"speaker":"Mike Cloonan","startTime":506.242,"endTime":509.542,"body":"and it's an $11 billion market"},{"speaker":"Mike Cloonan","startTime":509.596,"endTime":512.735,"body":"that is dominated by a single"},{"speaker":"Mike Cloonan","startTime":509.596,"endTime":512.735,"body":"player. We had a very unique"},{"speaker":"Mike Cloonan","startTime":512.789,"endTime":516.306,"body":"approach to solving the issue in"},{"speaker":"Mike Cloonan","startTime":512.789,"endTime":516.306,"body":"CF through this mechanism called"},{"speaker":"Mike Cloonan","startTime":516.36,"endTime":519.606,"body":"NBD1. We were the only company"},{"speaker":"Mike Cloonan","startTime":516.36,"endTime":519.606,"body":"working on NBD1, and as I had"},{"speaker":"Mike Cloonan","startTime":519.661,"endTime":522.853,"body":"said, it had the history of"},{"speaker":"Mike Cloonan","startTime":519.661,"endTime":522.853,"body":"being labeled as an undruggable"},{"speaker":"Mike Cloonan","startTime":522.907,"endTime":526.045,"body":"target. And so I liked the"},{"speaker":"Mike Cloonan","startTime":522.907,"endTime":526.045,"body":"challenge that that brought, of"},{"speaker":"Mike Cloonan","startTime":526.099,"endTime":529.617,"body":"we're going after something that"},{"speaker":"Mike Cloonan","startTime":526.099,"endTime":529.617,"body":"no one else has been able to do."},{"speaker":"Mike Cloonan","startTime":529.671,"endTime":533.025,"body":"We've made progress, and if we"},{"speaker":"Mike Cloonan","startTime":529.671,"endTime":533.025,"body":"do this, we have a potential to"},{"speaker":"Mike Cloonan","startTime":533.08,"endTime":536.272,"body":"positively disrupt a monopoly."},{"speaker":"Mike Cloonan","startTime":533.08,"endTime":536.272,"body":"And so I like competition. I"},{"speaker":"Mike Cloonan","startTime":536.326,"endTime":539.518,"body":"thrive in that area. And so to"},{"speaker":"Mike Cloonan","startTime":536.326,"endTime":539.518,"body":"me, when I thought about the"},{"speaker":"Mike Cloonan","startTime":539.573,"endTime":542.765,"body":"ability to build a company, to"},{"speaker":"Mike Cloonan","startTime":539.573,"endTime":542.765,"body":"work with a great scientific"},{"speaker":"Mike Cloonan","startTime":542.819,"endTime":545.633,"body":"team, to go after a unique"},{"speaker":"Mike Cloonan","startTime":542.819,"endTime":545.633,"body":"target that, again, could"},{"speaker":"Mike Cloonan","startTime":545.687,"endTime":548.284,"body":"positively disrupt and"},{"speaker":"Mike Cloonan","startTime":545.687,"endTime":548.284,"body":"potentially transform the"},{"speaker":"Mike Cloonan","startTime":548.338,"endTime":551.747,"body":"standard of care. It all really"},{"speaker":"Mike Cloonan","startTime":548.338,"endTime":551.747,"body":"started to come together. Like,"},{"speaker":"Mike Cloonan","startTime":551.801,"endTime":554.885,"body":"she was right. This was the"},{"speaker":"Mike Cloonan","startTime":551.801,"endTime":554.885,"body":"right opportunity for me, and"},{"speaker":"Mike Cloonan","startTime":554.939,"endTime":556.455,"body":"it's that's why I signed up."},{"speaker":"John Simboli","startTime":556.875,"endTime":558.66,"body":"Your word,"},{"speaker":"John Simboli","startTime":556.875,"endTime":558.66,"body":"visualization, caught my ear"},{"speaker":"John Simboli","startTime":558.66,"endTime":561.54,"body":"just a second ago. I was"},{"speaker":"John Simboli","startTime":558.66,"endTime":561.54,"body":"thinking about, quite likely, I"},{"speaker":"John Simboli","startTime":561.72,"endTime":564.12,"body":"would guess anyway, you"},{"speaker":"John Simboli","startTime":561.72,"endTime":564.12,"body":"visualized what would be like to"},{"speaker":"John Simboli","startTime":564.12,"endTime":567.18,"body":"be a CEO, not having been one"},{"speaker":"John Simboli","startTime":564.12,"endTime":567.18,"body":"before. And I'm guessing that"},{"speaker":"John Simboli","startTime":567.18,"endTime":569.76,"body":"some of the things you"},{"speaker":"John Simboli","startTime":567.18,"endTime":569.76,"body":"visualized turned out the way"},{"speaker":"John Simboli","startTime":569.76,"endTime":572.88,"body":"you anticipated, and some of"},{"speaker":"John Simboli","startTime":569.76,"endTime":572.88,"body":"them didn't. What was that? What"},{"speaker":"John Simboli","startTime":572.88,"endTime":573.84,"body":"was that blend?"},{"speaker":"Mike Cloonan","startTime":574.32,"endTime":576.494,"body":"When you think"},{"speaker":"Mike Cloonan","startTime":574.32,"endTime":576.494,"body":"about what the experiences"},{"speaker":"Mike Cloonan","startTime":576.547,"endTime":579.622,"body":"you've gained before being a"},{"speaker":"Mike Cloonan","startTime":576.547,"endTime":579.622,"body":"CEO. You're going to leverage"},{"speaker":"Mike Cloonan","startTime":579.675,"endTime":582.963,"body":"those experiences, whatever your"},{"speaker":"Mike Cloonan","startTime":579.675,"endTime":582.963,"body":"path that's led you there, If"},{"speaker":"Mike Cloonan","startTime":583.016,"endTime":585.986,"body":"you've come up through the"},{"speaker":"Mike Cloonan","startTime":583.016,"endTime":585.986,"body":"science or the business side,"},{"speaker":"Mike Cloonan","startTime":586.039,"endTime":589.168,"body":"you have experiences that are"},{"speaker":"Mike Cloonan","startTime":586.039,"endTime":589.168,"body":"going to be very tangible and"},{"speaker":"Mike Cloonan","startTime":589.221,"endTime":592.562,"body":"relatable to the CEO role. And"},{"speaker":"Mike Cloonan","startTime":589.221,"endTime":592.562,"body":"so you have a set of skills that"},{"speaker":"Mike Cloonan","startTime":592.615,"endTime":595.796,"body":"can make you successful. And"},{"speaker":"Mike Cloonan","startTime":592.615,"endTime":595.796,"body":"then there's always going to be"},{"speaker":"Mike Cloonan","startTime":595.849,"endTime":598.713,"body":"things that you didn't"},{"speaker":"Mike Cloonan","startTime":595.849,"endTime":598.713,"body":"experience. You can't have done"},{"speaker":"Mike Cloonan","startTime":598.766,"endTime":602.107,"body":"everything prior to being a CEO."},{"speaker":"Mike Cloonan","startTime":598.766,"endTime":602.107,"body":"And so the things that I found"},{"speaker":"Mike Cloonan","startTime":602.16,"endTime":605.183,"body":"were more of the natural"},{"speaker":"Mike Cloonan","startTime":602.16,"endTime":605.183,"body":"transition that I felt very good"},{"speaker":"Mike Cloonan","startTime":605.236,"endTime":608.63,"body":"about was, you know, the people,"},{"speaker":"Mike Cloonan","startTime":605.236,"endTime":608.63,"body":"the culture, the development of"},{"speaker":"Mike Cloonan","startTime":608.683,"endTime":611.97,"body":"the organization, the hiring and"},{"speaker":"Mike Cloonan","startTime":608.683,"endTime":611.97,"body":"building out the company, and"},{"speaker":"Mike Cloonan","startTime":612.023,"endTime":615.152,"body":"establishing, you know, a strong"},{"speaker":"Mike Cloonan","startTime":612.023,"endTime":615.152,"body":"culture. That was all very"},{"speaker":"Mike Cloonan","startTime":615.205,"endTime":618.44,"body":"tangible and relevant to what"},{"speaker":"Mike Cloonan","startTime":615.205,"endTime":618.44,"body":"I'd done in the past. There was"},{"speaker":"Mike Cloonan","startTime":618.493,"endTime":621.463,"body":"also, you know, developing the"},{"speaker":"Mike Cloonan","startTime":618.493,"endTime":621.463,"body":"strategy and aligning the"},{"speaker":"Mike Cloonan","startTime":621.516,"endTime":624.432,"body":"financial plan with the"},{"speaker":"Mike Cloonan","startTime":621.516,"endTime":624.432,"body":"strategy, all very comfortable,"},{"speaker":"Mike Cloonan","startTime":624.485,"endTime":627.667,"body":"sort of moving from past life"},{"speaker":"Mike Cloonan","startTime":624.485,"endTime":627.667,"body":"into that current CEO role. So"},{"speaker":"Mike Cloonan","startTime":627.72,"endTime":630.902,"body":"again, there's a lot that you"},{"speaker":"Mike Cloonan","startTime":627.72,"endTime":630.902,"body":"have to rely on your instincts"},{"speaker":"Mike Cloonan","startTime":630.955,"endTime":634.19,"body":"and your experience that's going"},{"speaker":"Mike Cloonan","startTime":630.955,"endTime":634.19,"body":"to set you down a path to be"},{"speaker":"Mike Cloonan","startTime":634.243,"endTime":637.531,"body":"successful. The areas that were"},{"speaker":"Mike Cloonan","startTime":634.243,"endTime":637.531,"body":"new for me was the fundraising"},{"speaker":"Mike Cloonan","startTime":637.584,"endTime":640.659,"body":"aspect and as a private company."},{"speaker":"Mike Cloonan","startTime":637.584,"endTime":640.659,"body":"So I had come from public"},{"speaker":"Mike Cloonan","startTime":640.712,"endTime":643.841,"body":"companies where we had raised"},{"speaker":"Mike Cloonan","startTime":640.712,"endTime":643.841,"body":"capital and raised money, but"},{"speaker":"Mike Cloonan","startTime":643.894,"endTime":646.439,"body":"going to a small private"},{"speaker":"Mike Cloonan","startTime":643.894,"endTime":646.439,"body":"company, VC funded very"},{"speaker":"Mike Cloonan","startTime":646.492,"endTime":649.78,"body":"different capital raising and"},{"speaker":"Mike Cloonan","startTime":646.492,"endTime":649.78,"body":"financing aspect than what I had"},{"speaker":"Mike Cloonan","startTime":649.833,"endTime":652.697,"body":"experienced in the public realm."},{"speaker":"Mike Cloonan","startTime":649.833,"endTime":652.697,"body":"And so you have to be"},{"speaker":"Mike Cloonan","startTime":652.75,"endTime":656.091,"body":"comfortable being uncomfortable,"},{"speaker":"Mike Cloonan","startTime":652.75,"endTime":656.091,"body":"I think, as a CEO and that you"},{"speaker":"Mike Cloonan","startTime":656.144,"endTime":659.379,"body":"have to know the things that you"},{"speaker":"Mike Cloonan","startTime":656.144,"endTime":659.379,"body":"don't know. And I would say,"},{"speaker":"Mike Cloonan","startTime":659.432,"endTime":662.348,"body":"sort of have confident humility."},{"speaker":"Mike Cloonan","startTime":659.432,"endTime":662.348,"body":"Because you can't know"},{"speaker":"Mike Cloonan","startTime":662.401,"endTime":665.583,"body":"everything, and you have to be"},{"speaker":"Mike Cloonan","startTime":662.401,"endTime":665.583,"body":"able to rely on your team who"},{"speaker":"Mike Cloonan","startTime":665.636,"endTime":668.447,"body":"might have expertise in a"},{"speaker":"Mike Cloonan","startTime":665.636,"endTime":668.447,"body":"certain area, your board of"},{"speaker":"Mike Cloonan","startTime":668.5,"endTime":671.416,"body":"directors, who are a great"},{"speaker":"Mike Cloonan","startTime":668.5,"endTime":671.416,"body":"resource that we had here at"},{"speaker":"Mike Cloonan","startTime":671.469,"endTime":674.545,"body":"Sionna. And then you know"},{"speaker":"Mike Cloonan","startTime":671.469,"endTime":674.545,"body":"outside experts that you can tap"},{"speaker":"Mike Cloonan","startTime":674.598,"endTime":678.045,"body":"into help you get through it. So"},{"speaker":"Mike Cloonan","startTime":674.598,"endTime":678.045,"body":"you learn as you go through this"},{"speaker":"Mike Cloonan","startTime":678.098,"endTime":681.28,"body":"process, just like anything,"},{"speaker":"Mike Cloonan","startTime":678.098,"endTime":681.28,"body":"you're going to pick up so many"},{"speaker":"Mike Cloonan","startTime":681.333,"endTime":684.515,"body":"skills, and once you do it, you"},{"speaker":"Mike Cloonan","startTime":681.333,"endTime":684.515,"body":"know, once you build up more"},{"speaker":"Mike Cloonan","startTime":684.568,"endTime":687.749,"body":"expertise and more knowledge and"},{"speaker":"Mike Cloonan","startTime":684.568,"endTime":687.749,"body":"more comfort with it. But I"},{"speaker":"Mike Cloonan","startTime":687.802,"endTime":691.037,"body":"think one of the biggest things"},{"speaker":"Mike Cloonan","startTime":687.802,"endTime":691.037,"body":"with the CEO role was, again,"},{"speaker":"Mike Cloonan","startTime":691.09,"endTime":693.795,"body":"really being, understanding"},{"speaker":"Mike Cloonan","startTime":691.09,"endTime":693.795,"body":"yourself, having a self"},{"speaker":"Mike Cloonan","startTime":693.848,"endTime":697.189,"body":"awareness around what you know"},{"speaker":"Mike Cloonan","startTime":693.848,"endTime":697.189,"body":"you di well. What are the things"},{"speaker":"Mike Cloonan","startTime":697.242,"endTime":700.37,"body":"you either haven't had a chance"},{"speaker":"Mike Cloonan","startTime":697.242,"endTime":700.37,"body":"to do yet, or it's not your"},{"speaker":"Mike Cloonan","startTime":700.423,"endTime":703.446,"body":"expertise, and you've got to"},{"speaker":"Mike Cloonan","startTime":700.423,"endTime":703.446,"body":"rely on the team or experts,"},{"speaker":"Mike Cloonan","startTime":703.499,"endTime":706.416,"body":"like I said, and then you"},{"speaker":"Mike Cloonan","startTime":703.499,"endTime":706.416,"body":"acquire them, you build those"},{"speaker":"Mike Cloonan","startTime":706.469,"endTime":709.544,"body":"skill sets, and it becomes a"},{"speaker":"Mike Cloonan","startTime":706.469,"endTime":709.544,"body":"little bit like muscle memory"},{"speaker":"Mike Cloonan","startTime":709.597,"endTime":712.885,"body":"that you build that into your"},{"speaker":"Mike Cloonan","startTime":709.597,"endTime":712.885,"body":"overall, you know, tool kit that"},{"speaker":"Mike Cloonan","startTime":712.938,"endTime":716.226,"body":"you have as a professional. And"},{"speaker":"Mike Cloonan","startTime":712.938,"endTime":716.226,"body":"the second time you go through"},{"speaker":"Mike Cloonan","startTime":716.279,"endTime":719.408,"body":"it, it makes you that much"},{"speaker":"Mike Cloonan","startTime":716.279,"endTime":719.408,"body":"stronger. And every situation is"},{"speaker":"Mike Cloonan","startTime":719.461,"endTime":722.325,"body":"different. That's the other part"},{"speaker":"Mike Cloonan","startTime":719.461,"endTime":722.325,"body":"of biotech. The macro"},{"speaker":"Mike Cloonan","startTime":722.378,"endTime":725.294,"body":"environment could be very"},{"speaker":"Mike Cloonan","startTime":722.378,"endTime":725.294,"body":"different, like the political"},{"speaker":"Mike Cloonan","startTime":725.347,"endTime":728.264,"body":"environment could be very"},{"speaker":"Mike Cloonan","startTime":725.347,"endTime":728.264,"body":"different. And so learning to"},{"speaker":"Mike Cloonan","startTime":728.317,"endTime":731.127,"body":"navigate through that, where"},{"speaker":"Mike Cloonan","startTime":728.317,"endTime":731.127,"body":"situations could be very"},{"speaker":"Mike Cloonan","startTime":731.18,"endTime":734.309,"body":"different than what you might"},{"speaker":"Mike Cloonan","startTime":731.18,"endTime":734.309,"body":"have experienced in the past,"},{"speaker":"Mike Cloonan","startTime":734.362,"endTime":737.597,"body":"and having a flexibility and a"},{"speaker":"Mike Cloonan","startTime":734.362,"endTime":737.597,"body":"nimbleness in terms of how you"},{"speaker":"Mike Cloonan","startTime":737.65,"endTime":740.355,"body":"operate, that's one of the keys"},{"speaker":"Mike Cloonan","startTime":737.65,"endTime":740.355,"body":"in a small biotech."},{"speaker":"John Simboli","startTime":742.515,"endTime":744.96,"body":"That word"},{"speaker":"John Simboli","startTime":742.515,"endTime":744.96,"body":"nimbleness certainly makes me"},{"speaker":"John Simboli","startTime":744.96,"endTime":747.66,"body":"think of the BioBoss that just"},{"speaker":"John Simboli","startTime":744.96,"endTime":747.66,"body":"published. He was talking about"},{"speaker":"John Simboli","startTime":747.96,"endTime":753.84,"body":"bobbing and weaving, and as far"},{"speaker":"John Simboli","startTime":747.96,"endTime":753.84,"body":"as, navigating, and I had"},{"speaker":"John Simboli","startTime":753.84,"endTime":757.5,"body":"thought at first he meant like,"},{"speaker":"John Simboli","startTime":753.84,"endTime":757.5,"body":"like a boxer, or like closing."},{"speaker":"John Simboli","startTime":757.5,"endTime":760.68,"body":"And he said, No, it's not so"},{"speaker":"John Simboli","startTime":757.5,"endTime":760.68,"body":"much about avoidance. It's about"},{"speaker":"John Simboli","startTime":760.68,"endTime":763.38,"body":"nimbleness. It's about footwork."},{"speaker":"John Simboli","startTime":760.68,"endTime":763.38,"body":"I thought that's interesting."},{"speaker":"Mike Cloonan","startTime":763.98,"endTime":766.479,"body":"Yeah, pivoting. I"},{"speaker":"Mike Cloonan","startTime":763.98,"endTime":766.479,"body":"think pivoting is the word you"},{"speaker":"Mike Cloonan","startTime":766.531,"endTime":769.864,"body":"would hear quite often. Just the"},{"speaker":"Mike Cloonan","startTime":766.531,"endTime":769.864,"body":"ability, the scenario you might"},{"speaker":"Mike Cloonan","startTime":769.916,"endTime":772.884,"body":"have envisioned playing out"},{"speaker":"Mike Cloonan","startTime":769.916,"endTime":772.884,"body":"doesn't play out exactly, and"},{"speaker":"Mike Cloonan","startTime":772.936,"endTime":776.217,"body":"you have to have that ability to"},{"speaker":"Mike Cloonan","startTime":772.936,"endTime":776.217,"body":"pivot to a slightly different,"},{"speaker":"Mike Cloonan","startTime":776.269,"endTime":779.185,"body":"and sometimes even a much"},{"speaker":"Mike Cloonan","startTime":776.269,"endTime":779.185,"body":"different scenario. But you've"},{"speaker":"Mike Cloonan","startTime":779.237,"endTime":782.154,"body":"sort of envisioned what that"},{"speaker":"Mike Cloonan","startTime":779.237,"endTime":782.154,"body":"other scenario is before it"},{"speaker":"Mike Cloonan","startTime":782.206,"endTime":785.226,"body":"happens. You're trying to"},{"speaker":"Mike Cloonan","startTime":782.206,"endTime":785.226,"body":"anticipate. You're trying to see"},{"speaker":"Mike Cloonan","startTime":785.278,"endTime":788.507,"body":"around corners and really think"},{"speaker":"Mike Cloonan","startTime":785.278,"endTime":788.507,"body":"in multiple scenarios. You may"},{"speaker":"Mike Cloonan","startTime":788.559,"endTime":791.892,"body":"have your preferred path or your"},{"speaker":"Mike Cloonan","startTime":788.559,"endTime":791.892,"body":"base plan, but really trying to"},{"speaker":"Mike Cloonan","startTime":791.944,"endTime":795.12,"body":"think through what else could"},{"speaker":"Mike Cloonan","startTime":791.944,"endTime":795.12,"body":"happen and when it does happen,"},{"speaker":"Mike Cloonan","startTime":795.172,"endTime":798.088,"body":"you're already prepared to"},{"speaker":"Mike Cloonan","startTime":795.172,"endTime":798.088,"body":"pivot, because you envisioned"},{"speaker":"Mike Cloonan","startTime":798.141,"endTime":801.473,"body":"it. Because you planned for it,"},{"speaker":"Mike Cloonan","startTime":798.141,"endTime":801.473,"body":"it could have happened that way."},{"speaker":"Mike Cloonan","startTime":801.525,"endTime":804.233,"body":"I do think sometimes"},{"speaker":"Mike Cloonan","startTime":801.525,"endTime":804.233,"body":"organizations can get caught if"},{"speaker":"Mike Cloonan","startTime":804.285,"endTime":807.41,"body":"you don't envision it. It takes"},{"speaker":"Mike Cloonan","startTime":804.285,"endTime":807.41,"body":"you a second when an outcome"},{"speaker":"Mike Cloonan","startTime":807.462,"endTime":810.586,"body":"happens that maybe you didn't"},{"speaker":"Mike Cloonan","startTime":807.462,"endTime":810.586,"body":"plan for. It can take a little"},{"speaker":"Mike Cloonan","startTime":810.638,"endTime":813.919,"body":"while for you to come to grips"},{"speaker":"Mike Cloonan","startTime":810.638,"endTime":813.919,"body":"with what the scenario is before"},{"speaker":"Mike Cloonan","startTime":813.971,"endTime":817.148,"body":"you can actually act on it. And"},{"speaker":"Mike Cloonan","startTime":813.971,"endTime":817.148,"body":"I think if you can plan ahead"},{"speaker":"Mike Cloonan","startTime":817.2,"endTime":820.272,"body":"and see around corners like"},{"speaker":"Mike Cloonan","startTime":817.2,"endTime":820.272,"body":"that, it just does allow you to"},{"speaker":"Mike Cloonan","startTime":820.324,"endTime":821.835,"body":"pivot that much more quickly."},{"speaker":"John Simboli","startTime":822.315,"endTime":825.615,"body":"I spoke with a CEO"},{"speaker":"John Simboli","startTime":822.315,"endTime":825.615,"body":"who had been at the company"},{"speaker":"John Simboli","startTime":825.615,"endTime":829.155,"body":"prior to becoming CEO, he'd been"},{"speaker":"John Simboli","startTime":825.615,"endTime":829.155,"body":"on the business development"},{"speaker":"John Simboli","startTime":829.155,"endTime":833.115,"body":"side. He said he'd become very"},{"speaker":"John Simboli","startTime":829.155,"endTime":833.115,"body":"good at trying to develop"},{"speaker":"John Simboli","startTime":833.475,"endTime":836.64,"body":"various scenarios to present to"},{"speaker":"John Simboli","startTime":833.475,"endTime":836.64,"body":"the CEO and the executive team,"},{"speaker":"John Simboli","startTime":836.64,"endTime":839.7,"body":"kind of like what you're talking"},{"speaker":"John Simboli","startTime":836.64,"endTime":839.7,"body":"about. But he said when he got"},{"speaker":"John Simboli","startTime":839.7,"endTime":844.26,"body":"in the role it was a surprise to"},{"speaker":"John Simboli","startTime":839.7,"endTime":844.26,"body":"him, because he hadn't yet made"},{"speaker":"John Simboli","startTime":844.26,"endTime":846.84,"body":"that transition. He said, in one"},{"speaker":"John Simboli","startTime":844.26,"endTime":846.84,"body":"of the very first meetings, he"},{"speaker":"John Simboli","startTime":846.84,"endTime":850.08,"body":"said, you know, guys and ladies,"},{"speaker":"John Simboli","startTime":846.84,"endTime":850.08,"body":"we could do this or this, or"},{"speaker":"John Simboli","startTime":850.08,"endTime":853.44,"body":"this or this. And he said there"},{"speaker":"John Simboli","startTime":850.08,"endTime":853.44,"body":"was a long pause, and someone on"},{"speaker":"John Simboli","startTime":853.44,"endTime":857.565,"body":"the team said, Yeah, but which"},{"speaker":"John Simboli","startTime":853.44,"endTime":857.565,"body":"one are we going to do? So you"},{"speaker":"John Simboli","startTime":857.565,"endTime":859.845,"body":"can't arbitrarily make a"},{"speaker":"John Simboli","startTime":857.565,"endTime":859.845,"body":"decision. You have to involve"},{"speaker":"John Simboli","startTime":859.845,"endTime":862.605,"body":"your team. But that is an aspect"},{"speaker":"John Simboli","startTime":859.845,"endTime":862.605,"body":"of being the CEO that is"},{"speaker":"John Simboli","startTime":862.605,"endTime":865.305,"body":"different from being a member of"},{"speaker":"John Simboli","startTime":862.605,"endTime":865.305,"body":"the executive team in another"},{"speaker":"John Simboli","startTime":865.305,"endTime":865.965,"body":"way, correct?"},{"speaker":"Mike Cloonan","startTime":866.445,"endTime":869.19,"body":"Yeah, absolutely,"},{"speaker":"Mike Cloonan","startTime":866.445,"endTime":869.19,"body":"you are the leader of the team."},{"speaker":"Mike Cloonan","startTime":869.246,"endTime":872.383,"body":"But the way you know every"},{"speaker":"Mike Cloonan","startTime":869.246,"endTime":872.383,"body":"leader is going to have their"},{"speaker":"Mike Cloonan","startTime":872.439,"endTime":875.745,"body":"own philosophy, their own how"},{"speaker":"Mike Cloonan","startTime":872.439,"endTime":875.745,"body":"they want to be a leader, how"},{"speaker":"Mike Cloonan","startTime":875.801,"endTime":879.106,"body":"they run the team. And to me, it"},{"speaker":"Mike Cloonan","startTime":875.801,"endTime":879.106,"body":"does come down to the team"},{"speaker":"Mike Cloonan","startTime":879.162,"endTime":882.748,"body":"orientation. That is, to me, one"},{"speaker":"Mike Cloonan","startTime":879.162,"endTime":882.748,"body":"of the biggest parts of where a"},{"speaker":"Mike Cloonan","startTime":882.804,"endTime":886.221,"body":"collection of individuals, but"},{"speaker":"Mike Cloonan","startTime":882.804,"endTime":886.221,"body":"we all have a common vision or"},{"speaker":"Mike Cloonan","startTime":886.277,"endTime":889.527,"body":"mission at Sionna. Our goal is"},{"speaker":"Mike Cloonan","startTime":886.277,"endTime":889.527,"body":"to deliver highly impactful"},{"speaker":"Mike Cloonan","startTime":889.583,"endTime":893.0,"body":"medications to people living"},{"speaker":"Mike Cloonan","startTime":889.583,"endTime":893.0,"body":"with CF that could fundamentally"},{"speaker":"Mike Cloonan","startTime":893.056,"endTime":896.586,"body":"change their lives and the lives"},{"speaker":"Mike Cloonan","startTime":893.056,"endTime":896.586,"body":"of their families. That's your"},{"speaker":"Mike Cloonan","startTime":896.642,"endTime":900.171,"body":"North Star. And so as a leader,"},{"speaker":"Mike Cloonan","startTime":896.642,"endTime":900.171,"body":"you have to ground yourself and"},{"speaker":"Mike Cloonan","startTime":900.227,"endTime":903.645,"body":"what your philosophy is on how"},{"speaker":"Mike Cloonan","startTime":900.227,"endTime":903.645,"body":"you're going to lead the team."},{"speaker":"Mike Cloonan","startTime":903.701,"endTime":907.231,"body":"And a lot of what we talk about"},{"speaker":"Mike Cloonan","startTime":903.701,"endTime":907.231,"body":"as a team, we are a team first."},{"speaker":"Mike Cloonan","startTime":907.287,"endTime":910.312,"body":"Our individuals and our"},{"speaker":"Mike Cloonan","startTime":907.287,"endTime":910.312,"body":"functions kind of come second."},{"speaker":"Mike Cloonan","startTime":910.368,"endTime":914.01,"body":"It's the leadership team that we"},{"speaker":"Mike Cloonan","startTime":910.368,"endTime":914.01,"body":"are focused on first, and how we"},{"speaker":"Mike Cloonan","startTime":914.066,"endTime":917.315,"body":"can best help the organization."},{"speaker":"Mike Cloonan","startTime":914.066,"endTime":917.315,"body":"And so my ask of all of my"},{"speaker":"Mike Cloonan","startTime":917.371,"endTime":920.733,"body":"leadership team members is you,"},{"speaker":"Mike Cloonan","startTime":917.371,"endTime":920.733,"body":"as we come in as a team, you"},{"speaker":"Mike Cloonan","startTime":920.789,"endTime":924.43,"body":"sort of take your functional hat"},{"speaker":"Mike Cloonan","startTime":920.789,"endTime":924.43,"body":"off, like you're not the finance"},{"speaker":"Mike Cloonan","startTime":924.486,"endTime":927.512,"body":"person, you're not the BD"},{"speaker":"Mike Cloonan","startTime":924.486,"endTime":927.512,"body":"person. You are an executive"},{"speaker":"Mike Cloonan","startTime":927.568,"endTime":930.873,"body":"leader, first of the company."},{"speaker":"Mike Cloonan","startTime":927.568,"endTime":930.873,"body":"And we really want people who"},{"speaker":"Mike Cloonan","startTime":930.929,"endTime":934.01,"body":"can think from an enterprise"},{"speaker":"Mike Cloonan","startTime":930.929,"endTime":934.01,"body":"level. That they can think"},{"speaker":"Mike Cloonan","startTime":934.066,"endTime":937.484,"body":"across the organization, again,"},{"speaker":"Mike Cloonan","startTime":934.066,"endTime":937.484,"body":"not just in their function or"},{"speaker":"Mike Cloonan","startTime":937.54,"endTime":940.901,"body":"their swim lane. And to me, if"},{"speaker":"Mike Cloonan","startTime":937.54,"endTime":940.901,"body":"you have a team that embraces"},{"speaker":"Mike Cloonan","startTime":940.957,"endTime":944.151,"body":"that concept. This is where you"},{"speaker":"Mike Cloonan","startTime":940.957,"endTime":944.151,"body":"can get into the scenario"},{"speaker":"Mike Cloonan","startTime":944.207,"endTime":947.568,"body":"planning that is complex, and"},{"speaker":"Mike Cloonan","startTime":944.207,"endTime":947.568,"body":"you can think, get the context"},{"speaker":"Mike Cloonan","startTime":947.624,"endTime":950.986,"body":"and get the thinking of the"},{"speaker":"Mike Cloonan","startTime":947.624,"endTime":950.986,"body":"entire team that's going to help"},{"speaker":"Mike Cloonan","startTime":951.042,"endTime":954.628,"body":"you build an even better roadmap"},{"speaker":"Mike Cloonan","startTime":951.042,"endTime":954.628,"body":"as to how to be successful. But"},{"speaker":"Mike Cloonan","startTime":954.684,"endTime":957.989,"body":"it does come from this, the"},{"speaker":"Mike Cloonan","startTime":954.684,"endTime":957.989,"body":"spirit of the company, the team"},{"speaker":"Mike Cloonan","startTime":958.045,"endTime":960.902,"body":"is first. The function is"},{"speaker":"Mike Cloonan","startTime":958.045,"endTime":960.902,"body":"second. I'm an enterprise"},{"speaker":"Mike Cloonan","startTime":960.958,"endTime":964.544,"body":"thinker, and I think that really"},{"speaker":"Mike Cloonan","startTime":960.958,"endTime":964.544,"body":"works well. That's been part of"},{"speaker":"Mike Cloonan","startTime":964.6,"endTime":967.681,"body":"my philosophy that I subscribe"},{"speaker":"Mike Cloonan","startTime":964.6,"endTime":967.681,"body":"to, and I think it helps"},{"speaker":"Mike Cloonan","startTime":967.737,"endTime":970.371,"body":"companies be very successful. If"},{"speaker":"Mike Cloonan","startTime":967.737,"endTime":970.371,"body":"you can do it."},{"speaker":"John Simboli","startTime":970.371,"endTime":971.73,"body":"It's in the nature"},{"speaker":"John Simboli","startTime":970.371,"endTime":971.73,"body":"of biotech and biopharma that"},{"speaker":"John Simboli","startTime":971.91,"endTime":975.45,"body":"it's data driven, and the data"},{"speaker":"John Simboli","startTime":971.91,"endTime":975.45,"body":"change. In a world where you're"},{"speaker":"John Simboli","startTime":975.45,"endTime":978.45,"body":"trained to be a decision maker,"},{"speaker":"John Simboli","startTime":975.45,"endTime":978.45,"body":"you're trained to follow the"},{"speaker":"John Simboli","startTime":978.45,"endTime":981.33,"body":"science, follow the data, I"},{"speaker":"John Simboli","startTime":978.45,"endTime":981.33,"body":"remember talking with a CEO who"},{"speaker":"John Simboli","startTime":981.33,"endTime":984.93,"body":"said I had to learn that"},{"speaker":"John Simboli","startTime":981.33,"endTime":984.93,"body":"sometimes I wasn't going to make"},{"speaker":"John Simboli","startTime":984.93,"endTime":987.27,"body":"the right decision, but often I"},{"speaker":"John Simboli","startTime":984.93,"endTime":987.27,"body":"could fix it."},{"speaker":"Mike Cloonan","startTime":987.63,"endTime":990.207,"body":"Well, when you're"},{"speaker":"Mike Cloonan","startTime":987.63,"endTime":990.207,"body":"asking the question, I started"},{"speaker":"Mike Cloonan","startTime":990.26,"endTime":993.589,"body":"to think about, you're right. I"},{"speaker":"Mike Cloonan","startTime":990.26,"endTime":993.589,"body":"mean, there is it's biotech is"},{"speaker":"Mike Cloonan","startTime":993.643,"endTime":996.864,"body":"hard to predict at time. And"},{"speaker":"Mike Cloonan","startTime":993.643,"endTime":996.864,"body":"we've talked about the scenario"},{"speaker":"Mike Cloonan","startTime":996.918,"endTime":999.978,"body":"planning and trying to think"},{"speaker":"Mike Cloonan","startTime":996.918,"endTime":999.978,"body":"ahead, and you can still get"},{"speaker":"Mike Cloonan","startTime":1000.032,"endTime":1003.468,"body":"surprised. But one of the things"},{"speaker":"Mike Cloonan","startTime":1000.032,"endTime":1003.468,"body":"that we, that I do embrace, and"},{"speaker":"Mike Cloonan","startTime":1003.522,"endTime":1006.904,"body":"the team here does embrace, it's"},{"speaker":"Mike Cloonan","startTime":1003.522,"endTime":1006.904,"body":"similar to what you're talking"},{"speaker":"Mike Cloonan","startTime":1006.958,"endTime":1009.965,"body":"about, but I would call it"},{"speaker":"Mike Cloonan","startTime":1006.958,"endTime":1009.965,"body":"strategic optionality. That's"},{"speaker":"Mike Cloonan","startTime":1010.018,"endTime":1013.347,"body":"one of the frameworks that we"},{"speaker":"Mike Cloonan","startTime":1010.018,"endTime":1013.347,"body":"really believe in, which is it's"},{"speaker":"Mike Cloonan","startTime":1013.401,"endTime":1016.354,"body":"different than scenario"},{"speaker":"Mike Cloonan","startTime":1013.401,"endTime":1016.354,"body":"planning. It's really trying to"},{"speaker":"Mike Cloonan","startTime":1016.407,"endTime":1019.521,"body":"best enable multiple ways to"},{"speaker":"Mike Cloonan","startTime":1016.407,"endTime":1019.521,"body":"win, if you will. And so that"},{"speaker":"Mike Cloonan","startTime":1019.575,"endTime":1022.743,"body":"could be how you build your"},{"speaker":"Mike Cloonan","startTime":1019.575,"endTime":1022.743,"body":"portfolio of assets. That could"},{"speaker":"Mike Cloonan","startTime":1022.797,"endTime":1025.75,"body":"be how you invest your capital"},{"speaker":"Mike Cloonan","startTime":1022.797,"endTime":1025.75,"body":"and your resources. With"},{"speaker":"Mike Cloonan","startTime":1025.803,"endTime":1028.971,"body":"biotech, it's always about"},{"speaker":"Mike Cloonan","startTime":1025.803,"endTime":1028.971,"body":"trying to get to that next stage"},{"speaker":"Mike Cloonan","startTime":1029.025,"endTime":1032.353,"body":"of development, which will then"},{"speaker":"Mike Cloonan","startTime":1029.025,"endTime":1032.353,"body":"de-risk the compound that much"},{"speaker":"Mike Cloonan","startTime":1032.407,"endTime":1035.682,"body":"further, or the program that"},{"speaker":"Mike Cloonan","startTime":1032.407,"endTime":1035.682,"body":"much further. But until you have"},{"speaker":"Mike Cloonan","startTime":1035.736,"endTime":1039.172,"body":"that, the more optionality that"},{"speaker":"Mike Cloonan","startTime":1035.736,"endTime":1039.172,"body":"you have, and you do it in still"},{"speaker":"Mike Cloonan","startTime":1039.226,"endTime":1042.286,"body":"a what I would call capital"},{"speaker":"Mike Cloonan","startTime":1039.226,"endTime":1042.286,"body":"efficient way. We only have a"},{"speaker":"Mike Cloonan","startTime":1042.34,"endTime":1045.561,"body":"finite amount of resources. We"},{"speaker":"Mike Cloonan","startTime":1042.34,"endTime":1045.561,"body":"can't have infinite strategic"},{"speaker":"Mike Cloonan","startTime":1045.615,"endTime":1048.729,"body":"optionality. But it's very"},{"speaker":"Mike Cloonan","startTime":1045.615,"endTime":1048.729,"body":"important, in my mind, when you"},{"speaker":"Mike Cloonan","startTime":1048.783,"endTime":1052.165,"body":"think about biotech, is that to"},{"speaker":"Mike Cloonan","startTime":1048.783,"endTime":1052.165,"body":"have multiple options, multiple"},{"speaker":"Mike Cloonan","startTime":1052.219,"endTime":1055.333,"body":"ways to win, it enables you to"},{"speaker":"Mike Cloonan","startTime":1052.219,"endTime":1055.333,"body":"pivot more quickly if  have"},{"speaker":"Mike Cloonan","startTime":1055.387,"endTime":1058.501,"body":"different options, different"},{"speaker":"Mike Cloonan","startTime":1055.387,"endTime":1058.501,"body":"assets. And it's complicated,"},{"speaker":"Mike Cloonan","startTime":1058.554,"endTime":1061.615,"body":"though. The more strategic"},{"speaker":"Mike Cloonan","startTime":1058.554,"endTime":1061.615,"body":"optionality you build into the"},{"speaker":"Mike Cloonan","startTime":1061.668,"endTime":1064.729,"body":"organization, it creates"},{"speaker":"Mike Cloonan","startTime":1061.668,"endTime":1064.729,"body":"complexity. Because, as you were"},{"speaker":"Mike Cloonan","startTime":1064.782,"endTime":1067.95,"body":"saying, you're not actually"},{"speaker":"Mike Cloonan","startTime":1064.782,"endTime":1067.95,"body":"making a decision today. You're"},{"speaker":"Mike Cloonan","startTime":1068.004,"endTime":1071.01,"body":"keeping options open, but so"},{"speaker":"Mike Cloonan","startTime":1068.004,"endTime":1071.01,"body":"that's your decision you're"},{"speaker":"Mike Cloonan","startTime":1071.064,"endTime":1074.017,"body":"making. You're making the"},{"speaker":"Mike Cloonan","startTime":1071.064,"endTime":1074.017,"body":"decision to keep options open"},{"speaker":"Mike Cloonan","startTime":1074.071,"endTime":1077.346,"body":"instead of making the decision"},{"speaker":"Mike Cloonan","startTime":1074.071,"endTime":1077.346,"body":"to go down this specific path."},{"speaker":"Mike Cloonan","startTime":1077.4,"endTime":1080.245,"body":"And so it's actually just a"},{"speaker":"Mike Cloonan","startTime":1077.4,"endTime":1080.245,"body":"different decision making"},{"speaker":"Mike Cloonan","startTime":1080.299,"endTime":1083.789,"body":"framework of you're still making"},{"speaker":"Mike Cloonan","startTime":1080.299,"endTime":1083.789,"body":"decisions, but it's, in essence,"},{"speaker":"Mike Cloonan","startTime":1083.842,"endTime":1087.332,"body":"the decision to keep things open"},{"speaker":"Mike Cloonan","startTime":1083.842,"endTime":1087.332,"body":"until we have more data. Then we"},{"speaker":"Mike Cloonan","startTime":1087.386,"endTime":1090.661,"body":"can be data driven and we can"},{"speaker":"Mike Cloonan","startTime":1087.386,"endTime":1090.661,"body":"narrow the options and start to"},{"speaker":"Mike Cloonan","startTime":1090.715,"endTime":1094.097,"body":"go down a more defined path. But"},{"speaker":"Mike Cloonan","startTime":1090.715,"endTime":1094.097,"body":"it's all about leveraging. You"},{"speaker":"Mike Cloonan","startTime":1094.151,"endTime":1097.372,"body":"know what happens in biotech"},{"speaker":"Mike Cloonan","startTime":1094.151,"endTime":1097.372,"body":"with data, the de-risking, more"},{"speaker":"Mike Cloonan","startTime":1097.426,"endTime":1100.755,"body":"certainty comes into play, and"},{"speaker":"Mike Cloonan","startTime":1097.426,"endTime":1100.755,"body":"it just gives yourself a better"},{"speaker":"Mike Cloonan","startTime":1100.808,"endTime":1103.6,"body":"chance to make the best"},{"speaker":"Mike Cloonan","startTime":1100.808,"endTime":1103.6,"body":"decision, as opposed to, too"},{"speaker":"Mike Cloonan","startTime":1103.654,"endTime":1106.875,"body":"early, maybe narrowing it down,"},{"speaker":"Mike Cloonan","startTime":1103.654,"endTime":1106.875,"body":"and it might lead you down a"},{"speaker":"Mike Cloonan","startTime":1106.929,"endTime":1107.735,"body":"different path."},{"speaker":"John Simboli","startTime":1108.335,"endTime":1110.18,"body":"You probably"},{"speaker":"John Simboli","startTime":1108.335,"endTime":1110.18,"body":"smiled when you saw this"},{"speaker":"John Simboli","startTime":1110.18,"endTime":1113.06,"body":"question about when you were"},{"speaker":"John Simboli","startTime":1110.18,"endTime":1113.06,"body":"eight or nine years old, did you"},{"speaker":"John Simboli","startTime":1113.06,"endTime":1117.14,"body":"have any image of what life"},{"speaker":"John Simboli","startTime":1113.06,"endTime":1117.14,"body":"would be like? It's surprising"},{"speaker":"John Simboli","startTime":1117.14,"endTime":1120.8,"body":"to me when I've asked that a few"},{"speaker":"John Simboli","startTime":1117.14,"endTime":1120.8,"body":"times here, when I've had"},{"speaker":"John Simboli","startTime":1120.8,"endTime":1123.62,"body":"answers like, No, I was trained"},{"speaker":"John Simboli","startTime":1120.8,"endTime":1123.62,"body":"to be a classical pianist, and"},{"speaker":"John Simboli","startTime":1123.62,"endTime":1127.34,"body":"then I realized . . . So what"},{"speaker":"John Simboli","startTime":1123.62,"endTime":1127.34,"body":"was your image, or what you"},{"speaker":"Mike Cloonan","startTime":1127.0,"endTime":1131.26,"body":"you're thinking,"},{"speaker":"Mike Cloonan","startTime":1127.0,"endTime":1131.26,"body":"but I definitely was at that"},{"speaker":"Mike Cloonan","startTime":1127.0,"endTime":1169.825,"body":"What is the unmet need? You"},{"speaker":"Mike Cloonan","startTime":1127.0,"endTime":1169.825,"body":"began to talk"},{"speaker":"Mike Cloonan","startTime":1127.34,"endTime":1127.76,"body":"thought?"},{"speaker":"Mike Cloonan","startTime":1131.38,"endTime":1136.78,"body":"time thinking I wanted to play"},{"speaker":"Mike Cloonan","startTime":1131.38,"endTime":1136.78,"body":"for the Boston Celtics or the"},{"speaker":"Mike Cloonan","startTime":1136.78,"endTime":1140.32,"body":"Boston Red Sox. There was no"},{"speaker":"Mike Cloonan","startTime":1136.78,"endTime":1140.32,"body":"question in my mind I was going"},{"speaker":"Mike Cloonan","startTime":1140.32,"endTime":1143.8,"body":"to be a professional athlete,"},{"speaker":"Mike Cloonan","startTime":1140.32,"endTime":1143.8,"body":"and that was a big part of my"},{"speaker":"Mike Cloonan","startTime":1143.8,"endTime":1146.86,"body":"identity growing up. I love"},{"speaker":"Mike Cloonan","startTime":1143.8,"endTime":1146.86,"body":"sports. Still do, but you know,"},{"speaker":"Mike Cloonan","startTime":1146.86,"endTime":1149.38,"body":"as I when I take that now and"},{"speaker":"Mike Cloonan","startTime":1146.86,"endTime":1149.38,"body":"really think about maybe what"},{"speaker":"Mike Cloonan","startTime":1149.38,"endTime":1152.185,"body":"you're trying to get at in terms"},{"speaker":"Mike Cloonan","startTime":1149.38,"endTime":1152.185,"body":"of why I asked that question,"},{"speaker":"Mike Cloonan","startTime":1152.605,"endTime":1156.685,"body":"you know, what I learned, very"},{"speaker":"Mike Cloonan","startTime":1152.605,"endTime":1156.685,"body":"early on, having that mindset of"},{"speaker":"Mike Cloonan","startTime":1156.685,"endTime":1159.985,"body":"an athlete is that, you know,"},{"speaker":"Mike Cloonan","startTime":1156.685,"endTime":1159.985,"body":"having a common vision of what"},{"speaker":"Mike Cloonan","startTime":1159.985,"endTime":1164.185,"body":"you want to accomplish, and what"},{"speaker":"Mike Cloonan","startTime":1159.985,"endTime":1164.185,"body":"does success look like? And the"},{"speaker":"Mike Cloonan","startTime":1164.185,"endTime":1167.965,"body":"team aspect. The team first, the"},{"speaker":"Mike Cloonan","startTime":1164.185,"endTime":1167.965,"body":"individual success comes later."},{"speaker":"Mike Cloonan","startTime":1168.265,"endTime":1171.385,"body":"And those are parts of my"},{"speaker":"Mike Cloonan","startTime":1168.265,"endTime":1171.385,"body":"leadership philosophy that I"},{"speaker":"Mike Cloonan","startTime":1171.385,"endTime":1174.43,"body":"talked about earlier, about"},{"speaker":"Mike Cloonan","startTime":1171.385,"endTime":1174.43,"body":"things that I still have today."},{"speaker":"Mike Cloonan","startTime":1174.73,"endTime":1177.73,"body":"You can trace back to, again,"},{"speaker":"Mike Cloonan","startTime":1174.73,"endTime":1177.73,"body":"sort of that very early age of"},{"speaker":"Mike Cloonan","startTime":1177.73,"endTime":1180.43,"body":"what you thought you wanted to"},{"speaker":"Mike Cloonan","startTime":1177.73,"endTime":1180.43,"body":"be, but was it the actual what"},{"speaker":"Mike Cloonan","startTime":1180.43,"endTime":1183.91,"body":"you wanted to be or who you"},{"speaker":"Mike Cloonan","startTime":1180.43,"endTime":1183.91,"body":"wanted to be? And that's what I"},{"speaker":"Mike Cloonan","startTime":1183.91,"endTime":1186.91,"body":"think about when I reflected on"},{"speaker":"Mike Cloonan","startTime":1183.91,"endTime":1186.91,"body":"this question. There were things"},{"speaker":"Mike Cloonan","startTime":1186.46,"endTime":1220.207,"body":"It really comes"},{"speaker":"Mike Cloonan","startTime":1186.46,"endTime":1220.207,"body":"down to when you think about"},{"speaker":"Mike Cloonan","startTime":1186.91,"endTime":1189.97,"body":"that, again, I could take from"},{"speaker":"Mike Cloonan","startTime":1186.91,"endTime":1189.97,"body":"that of who I wanted to be, part"},{"speaker":"Mike Cloonan","startTime":1189.97,"endTime":1192.67,"body":"of a team, doing something very"},{"speaker":"Mike Cloonan","startTime":1189.97,"endTime":1192.67,"body":"meaningful, again, the"},{"speaker":"Mike Cloonan","startTime":1192.67,"endTime":1196.45,"body":"opportunity to be successful and"},{"speaker":"Mike Cloonan","startTime":1192.67,"endTime":1196.45,"body":"go after a championship, and in"},{"speaker":"Mike Cloonan","startTime":1196.45,"endTime":1199.255,"body":"biotech that's getting a drug to"},{"speaker":"Mike Cloonan","startTime":1196.45,"endTime":1199.255,"body":"launch and getting it to"},{"speaker":"Mike Cloonan","startTime":1199.255,"endTime":1204.175,"body":"patients. So there is a strong"},{"speaker":"Mike Cloonan","startTime":1199.255,"endTime":1204.175,"body":"connectivity between thinking"},{"speaker":"Mike Cloonan","startTime":1204.175,"endTime":1207.115,"body":"back now and reflecting of why"},{"speaker":"Mike Cloonan","startTime":1204.175,"endTime":1207.115,"body":"maybe I landed where I did"},{"speaker":"Mike Cloonan","startTime":1207.115,"endTime":1210.655,"body":"today. But I did fast forward"},{"speaker":"Mike Cloonan","startTime":1207.115,"endTime":1210.655,"body":"like, you know, when I did a"},{"speaker":"Mike Cloonan","startTime":1210.655,"endTime":1213.235,"body":"little bit more okay, beyond"},{"speaker":"Mike Cloonan","startTime":1210.655,"endTime":1213.235,"body":"that very early stage, when did"},{"speaker":"Mike Cloonan","startTime":1213.235,"endTime":1216.775,"body":"I start to think about, you"},{"speaker":"Mike Cloonan","startTime":1213.235,"endTime":1216.775,"body":"know, why I landed in biotech"},{"speaker":"Mike Cloonan","startTime":1216.775,"endTime":1219.655,"body":"and my early, when I went to"},{"speaker":"Mike Cloonan","startTime":1216.775,"endTime":1219.655,"body":"undergrad, I started off as a"},{"speaker":"Mike Cloonan","startTime":1219.655,"endTime":1222.58,"body":"chemistry major. So I always"},{"speaker":"Mike Cloonan","startTime":1219.655,"endTime":1222.58,"body":"loved science, and thought that"},{"speaker":"Mike Cloonan","startTime":1220.974,"endTime":1266.225,"body":"where the bar is today. As we"},{"speaker":"Mike Cloonan","startTime":1220.974,"endTime":1266.225,"body":"said, a third of patients who"},{"speaker":"Mike Cloonan","startTime":1222.58,"endTime":1226.06,"body":"would be something that I want"},{"speaker":"Mike Cloonan","startTime":1222.58,"endTime":1226.06,"body":"to do as a career. But then I,"},{"speaker":"Mike Cloonan","startTime":1226.06,"endTime":1228.7,"body":"you know, as I did more of the"},{"speaker":"Mike Cloonan","startTime":1226.06,"endTime":1228.7,"body":"science, and I started taking"},{"speaker":"Mike Cloonan","startTime":1228.7,"endTime":1231.58,"body":"some business classes, I"},{"speaker":"Mike Cloonan","startTime":1228.7,"endTime":1231.58,"body":"actually pivoted. And I pivoted"},{"speaker":"Mike Cloonan","startTime":1231.58,"endTime":1235.72,"body":"to business as my major. But"},{"speaker":"Mike Cloonan","startTime":1231.58,"endTime":1235.72,"body":"what I found out later in life"},{"speaker":"Mike Cloonan","startTime":1235.72,"endTime":1241.78,"body":"is, having done the science"},{"speaker":"Mike Cloonan","startTime":1235.72,"endTime":1241.78,"body":"early, pivoting to business and"},{"speaker":"Mike Cloonan","startTime":1241.78,"endTime":1242.105,"body":"then sort of building your"},{"speaker":"Mike Cloonan","startTime":1241.78,"endTime":1242.105,"body":"career on the business side,"},{"speaker":"Mike Cloonan","startTime":1242.105,"endTime":1243.265,"body":"biotech is the intersection of"},{"speaker":"Mike Cloonan","startTime":1242.105,"endTime":1243.265,"body":"science and business. I mean,"},{"speaker":"Mike Cloonan","startTime":1243.505,"endTime":1246.625,"body":"that's really what the business"},{"speaker":"Mike Cloonan","startTime":1243.505,"endTime":1246.625,"body":"model is. And so when I look"},{"speaker":"Mike Cloonan","startTime":1246.625,"endTime":1250.225,"body":"back now, I'm not surprised that"},{"speaker":"Mike Cloonan","startTime":1246.625,"endTime":1250.225,"body":"this is where I landed based on"},{"speaker":"Mike Cloonan","startTime":1250.225,"endTime":1254.785,"body":"what sort of my two academic"},{"speaker":"Mike Cloonan","startTime":1250.225,"endTime":1254.785,"body":"aspirations or interests were in"},{"speaker":"Mike Cloonan","startTime":1254.785,"endTime":1257.665,"body":"college, and sort of how I"},{"speaker":"Mike Cloonan","startTime":1254.785,"endTime":1257.665,"body":"morphed them back together later"},{"speaker":"Mike Cloonan","startTime":1257.665,"endTime":1258.145,"body":"in life."},{"speaker":"Mike Cloonan","startTime":1266.992,"endTime":1314.545,"body":"are on the standard of care have"},{"speaker":"Mike Cloonan","startTime":1266.992,"endTime":1314.545,"body":"normal CFTR function. So that"},{"speaker":"Mike Cloonan","startTime":1315.312,"endTime":1360.564,"body":"means two thirds do not have"},{"speaker":"Mike Cloonan","startTime":1315.312,"endTime":1360.564,"body":"normal CFTR function, and that"},{"speaker":"Mike Cloonan","startTime":1361.331,"endTime":1408.117,"body":"means that their quality of life"},{"speaker":"Mike Cloonan","startTime":1361.331,"endTime":1408.117,"body":"is not where it needs to be."},{"speaker":"Mike Cloonan","startTime":1408.884,"endTime":1451.835,"body":"Their life expectancy is not"},{"speaker":"Mike Cloonan","startTime":1408.884,"endTime":1451.835,"body":"where it is, and just their"},{"speaker":"Mike Cloonan","startTime":1452.602,"endTime":1500.154,"body":"overall how they live, their day"},{"speaker":"Mike Cloonan","startTime":1452.602,"endTime":1500.154,"body":"to day life, can be improved."},{"speaker":"Mike Cloonan","startTime":1500.921,"endTime":1550.008,"body":"And so what we are focused on is"},{"speaker":"Mike Cloonan","startTime":1500.921,"endTime":1550.008,"body":"driving as many patients with a"},{"speaker":"Mike Cloonan","startTime":1550.775,"endTime":1594.493,"body":"dual combination to a better"},{"speaker":"Mike Cloonan","startTime":1550.775,"endTime":1594.493,"body":"threshold or better level of"},{"speaker":"Mike Cloonan","startTime":1595.26,"endTime":1641.279,"body":"CFTR function, all the way to"},{"speaker":"Mike Cloonan","startTime":1595.26,"endTime":1641.279,"body":"normal for as many patients as"},{"speaker":"Mike Cloonan","startTime":1642.046,"endTime":1691.132,"body":"possible. And if we can do that,"},{"speaker":"Mike Cloonan","startTime":1642.046,"endTime":1691.132,"body":"the downstream implications for"},{"speaker":"Mike Cloonan","startTime":1691.899,"endTime":1737.151,"body":"patients are significant in"},{"speaker":"Mike Cloonan","startTime":1691.899,"endTime":1737.151,"body":"terms of their quality of life,"},{"speaker":"Mike Cloonan","startTime":1737.918,"endTime":1787.005,"body":"potentially life expectancy. All"},{"speaker":"Mike Cloonan","startTime":1737.918,"endTime":1787.005,"body":"of those things feed into this."},{"speaker":"Mike Cloonan","startTime":1787.772,"endTime":1830.723,"body":"And the other part of it is not"},{"speaker":"Mike Cloonan","startTime":1787.772,"endTime":1830.723,"body":"only trying to raise the"},{"speaker":"Mike Cloonan","startTime":1831.49,"endTime":1873.674,"body":"efficacy bar and get more"},{"speaker":"Mike Cloonan","startTime":1831.49,"endTime":1873.674,"body":"patients to normal. The other"},{"speaker":"Mike Cloonan","startTime":1874.441,"endTime":1919.692,"body":"part of this, we're doing it"},{"speaker":"Mike Cloonan","startTime":1874.441,"endTime":1919.692,"body":"with two drugs, as compared to"},{"speaker":"Mike Cloonan","startTime":1920.459,"endTime":1967.245,"body":"the standard of care, which is"},{"speaker":"Mike Cloonan","startTime":1920.459,"endTime":1967.245,"body":"three drugs. And that standard"},{"speaker":"Mike Cloonan","startTime":1968.012,"endTime":2004.06,"body":"of care has already an"},{"speaker":"Mike Cloonan","startTime":1968.012,"endTime":2004.06,"body":"established tolerability"},{"speaker":"Mike Cloonan","startTime":2004.827,"endTime":2047.778,"body":"profile, but we believe with two"},{"speaker":"Mike Cloonan","startTime":2004.827,"endTime":2047.778,"body":"compounds, one that's a"},{"speaker":"Mike Cloonan","startTime":2048.545,"endTime":2091.496,"body":"differentiated one in NBD1, we"},{"speaker":"Mike Cloonan","startTime":2048.545,"endTime":2091.496,"body":"may have the potential to"},{"speaker":"Mike Cloonan","startTime":2092.263,"endTime":2129.845,"body":"deliver a differentiated"},{"speaker":"Mike Cloonan","startTime":2092.263,"endTime":2129.845,"body":"tolerability profile for"},{"speaker":"Mike Cloonan","startTime":2130.612,"endTime":2177.398,"body":"patients as well. So the first"},{"speaker":"Mike Cloonan","startTime":2130.612,"endTime":2177.398,"body":"goal is drive the efficacy and"},{"speaker":"Mike Cloonan","startTime":2178.165,"endTime":2226.484,"body":"improve that CFTR function. But"},{"speaker":"Mike Cloonan","startTime":2178.165,"endTime":2226.484,"body":"there could also be a corollary"},{"speaker":"Mike Cloonan","startTime":2220.4,"endTime":2223.589,"body":"CF is a large rare disease. It"},{"speaker":"Mike Cloonan","startTime":2220.4,"endTime":2223.589,"body":"has about 100,000 patients"},{"speaker":"Mike Cloonan","startTime":2223.645,"endTime":2227.002,"body":"worldwide that have CF. And so"},{"speaker":"Mike Cloonan","startTime":2223.645,"endTime":2227.002,"body":"it is one of the largest rare"},{"speaker":"Mike Cloonan","startTime":2227.058,"endTime":2230.527,"body":"diseases that exist. And also"},{"speaker":"Mike Cloonan","startTime":2227.058,"endTime":2230.527,"body":"speaks to the market size. As we"},{"speaker":"Mike Cloonan","startTime":2227.251,"endTime":2273.27,"body":"benefit to this, of having a"},{"speaker":"Mike Cloonan","startTime":2227.251,"endTime":2273.27,"body":"tolerability improvement, if it"},{"speaker":"Mike Cloonan","startTime":2230.583,"endTime":2233.716,"body":"said, It's $11 billion market"},{"speaker":"Mike Cloonan","startTime":2230.583,"endTime":2233.716,"body":"size that is growing to 15"},{"speaker":"Mike Cloonan","startTime":2233.772,"endTime":2237.241,"body":"billion in the not too distant"},{"speaker":"Mike Cloonan","startTime":2233.772,"endTime":2237.241,"body":"future. And so for folks today,"},{"speaker":"Mike Cloonan","startTime":2237.297,"endTime":2240.263,"body":"we could talk about life"},{"speaker":"Mike Cloonan","startTime":2237.297,"endTime":2240.263,"body":"expectancy being in that mid"},{"speaker":"Mike Cloonan","startTime":2240.319,"endTime":2243.676,"body":"50s, as I said today, that's an"},{"speaker":"Mike Cloonan","startTime":2240.319,"endTime":2243.676,"body":"important framework to think"},{"speaker":"Mike Cloonan","startTime":2243.732,"endTime":2247.089,"body":"about. How can we improve the"},{"speaker":"Mike Cloonan","startTime":2243.732,"endTime":2247.089,"body":"lives of CF patients? There is"},{"speaker":"Mike Cloonan","startTime":2247.145,"endTime":2250.335,"body":"exacerbations to the disease"},{"speaker":"Mike Cloonan","startTime":2247.145,"endTime":2250.335,"body":"that could put them into the"},{"speaker":"Mike Cloonan","startTime":2250.391,"endTime":2253.916,"body":"hospital, where their lungs are"},{"speaker":"Mike Cloonan","startTime":2250.391,"endTime":2253.916,"body":"not functioning in the way that"},{"speaker":"Mike Cloonan","startTime":2253.972,"endTime":2257.385,"body":"they want. The mucus is still"},{"speaker":"Mike Cloonan","startTime":2253.972,"endTime":2257.385,"body":"building up. And so, we've made"},{"speaker":"Mike Cloonan","startTime":2257.441,"endTime":2260.91,"body":"a lot of progress in the last"},{"speaker":"Mike Cloonan","startTime":2257.441,"endTime":2260.91,"body":"decade in terms of CF, but those"},{"speaker":"Mike Cloonan","startTime":2260.966,"endTime":2264.043,"body":"are the things we can take even"},{"speaker":"Mike Cloonan","startTime":2260.966,"endTime":2264.043,"body":"to a better level, with"},{"speaker":"Mike Cloonan","startTime":2264.099,"endTime":2267.288,"body":"potentially NBD1 being the"},{"speaker":"Mike Cloonan","startTime":2264.099,"endTime":2267.288,"body":"backbone of a dual combination"},{"speaker":"Mike Cloonan","startTime":2267.344,"endTime":2270.478,"body":"that can provide incremental"},{"speaker":"Mike Cloonan","startTime":2267.344,"endTime":2270.478,"body":"benefits than what they see"},{"speaker":"Mike Cloonan","startTime":2270.534,"endTime":2274.115,"body":"today. And that's  the goal. And"},{"speaker":"Mike Cloonan","startTime":2270.534,"endTime":2274.115,"body":"just to get having more options"},{"speaker":"Mike Cloonan","startTime":2274.037,"endTime":2296.28,"body":"does what we think it can do."},{"speaker":"Mike Cloonan","startTime":2274.171,"endTime":2277.584,"body":"for patients, as I've talked"},{"speaker":"Mike Cloonan","startTime":2274.171,"endTime":2277.584,"body":"about, it does create, not every"},{"speaker":"Mike Cloonan","startTime":2277.64,"endTime":2280.773,"body":"medicine works for every"},{"speaker":"Mike Cloonan","startTime":2277.64,"endTime":2280.773,"body":"patient, and that's the case in"},{"speaker":"Mike Cloonan","startTime":2280.829,"endTime":2284.019,"body":"every disease. The more options"},{"speaker":"Mike Cloonan","startTime":2280.829,"endTime":2284.019,"body":"we have, patients respond"},{"speaker":"Mike Cloonan","startTime":2284.074,"endTime":2287.32,"body":"differently to options, and so"},{"speaker":"Mike Cloonan","startTime":2284.074,"endTime":2287.32,"body":"that's our goal. We believe"},{"speaker":"Mike Cloonan","startTime":2287.376,"endTime":2290.845,"body":"patients deserve more options in"},{"speaker":"Mike Cloonan","startTime":2287.376,"endTime":2290.845,"body":"CF and that's our goal, is to"},{"speaker":"Mike Cloonan","startTime":2290.901,"endTime":2294.202,"body":"deliver them new, potentially"},{"speaker":"Mike Cloonan","startTime":2290.901,"endTime":2294.202,"body":"more efficacious options that"},{"speaker":"Mike Cloonan","startTime":2294.258,"endTime":2297.28,"body":"could even have a differentiated"},{"speaker":"Mike Cloonan","startTime":2294.258,"endTime":2297.28,"body":"tolerability profile."},{"speaker":"John Simboli","startTime":2297.28,"endTime":2299.694,"body":"A lot of my work,"},{"speaker":"John Simboli","startTime":2297.28,"endTime":2299.694,"body":"just by chance, has been with"},{"speaker":"John Simboli","startTime":2299.746,"endTime":2302.88,"body":"people who companies are working"},{"speaker":"John Simboli","startTime":2299.746,"endTime":2302.88,"body":"in the rare disease side and"},{"speaker":"John Simboli","startTime":2302.931,"endTime":2305.654,"body":"having a normal life, then"},{"speaker":"John Simboli","startTime":2302.931,"endTime":2305.654,"body":"suddenly having your world"},{"speaker":"John Simboli","startTime":2305.705,"endTime":2308.737,"body":"upside down, and then having"},{"speaker":"John Simboli","startTime":2305.705,"endTime":2308.737,"body":"this incredible opportunity to"},{"speaker":"John Simboli","startTime":2308.788,"endTime":2311.46,"body":"have your life back again. It's"},{"speaker":"John Simboli","startTime":2308.788,"endTime":2311.46,"body":"almost beyond words."},{"speaker":"Mike Cloonan","startTime":2311.46,"endTime":2314.184,"body":"That's why we work"},{"speaker":"Mike Cloonan","startTime":2311.46,"endTime":2314.184,"body":"in biotech, right? To see the"},{"speaker":"Mike Cloonan","startTime":2314.241,"endTime":2317.817,"body":"impact that you can potentially"},{"speaker":"Mike Cloonan","startTime":2314.241,"endTime":2317.817,"body":"make on people living with that"},{"speaker":"Mike Cloonan","startTime":2317.874,"endTime":2320.996,"body":"disease. It's impacts the"},{"speaker":"Mike Cloonan","startTime":2317.874,"endTime":2320.996,"body":"families, because everyone is"},{"speaker":"Mike Cloonan","startTime":2321.052,"endTime":2324.685,"body":"sort of involved with that. And"},{"speaker":"Mike Cloonan","startTime":2321.052,"endTime":2324.685,"body":"so it really is unique, not only"},{"speaker":"Mike Cloonan","startTime":2324.742,"endTime":2328.034,"body":"to biotech, but again, to"},{"speaker":"Mike Cloonan","startTime":2324.742,"endTime":2328.034,"body":"certain disease areas, where you"},{"speaker":"Mike Cloonan","startTime":2328.091,"endTime":2331.269,"body":"could see fundamentally game"},{"speaker":"Mike Cloonan","startTime":2328.091,"endTime":2331.269,"body":"changing improvement in the"},{"speaker":"Mike Cloonan","startTime":2331.326,"endTime":2334.959,"body":"lives of people living with the"},{"speaker":"Mike Cloonan","startTime":2331.326,"endTime":2334.959,"body":"disease, and their families, for"},{"speaker":"Mike Cloonan","startTime":2335.016,"endTime":2335.3,"body":"sure."},{"speaker":"Mike Cloonan","startTime":2335.3,"endTime":2338.746,"body":"Just to summarize so it's very"},{"speaker":"Mike Cloonan","startTime":2335.3,"endTime":2338.746,"body":"clear, Sionna is going after a"},{"speaker":"Mike Cloonan","startTime":2338.803,"endTime":2342.475,"body":"new approach for CF. And CF is a"},{"speaker":"Mike Cloonan","startTime":2338.803,"endTime":2342.475,"body":"monopoly, as we've talked about,"},{"speaker":"Mike Cloonan","startTime":2342.532,"endTime":2346.035,"body":"where there's a single player"},{"speaker":"Mike Cloonan","startTime":2342.532,"endTime":2346.035,"body":"that has dominated the space for"},{"speaker":"Mike Cloonan","startTime":2346.091,"endTime":2349.594,"body":"a long time. And as we know, the"},{"speaker":"Mike Cloonan","startTime":2346.091,"endTime":2349.594,"body":"vast majority of patients are"},{"speaker":"Mike Cloonan","startTime":2349.651,"endTime":2352.871,"body":"not getting to normal CFTR"},{"speaker":"Mike Cloonan","startTime":2349.651,"endTime":2352.871,"body":"function. So our mission is to"},{"speaker":"Mike Cloonan","startTime":2352.928,"endTime":2355.696,"body":"drive as many patients as"},{"speaker":"Mike Cloonan","startTime":2352.928,"endTime":2355.696,"body":"possible to normal CFTR"},{"speaker":"Mike Cloonan","startTime":2355.753,"endTime":2359.2,"body":"function. We're going after that"},{"speaker":"Mike Cloonan","startTime":2355.753,"endTime":2359.2,"body":"to solve the unmet need that"},{"speaker":"Mike Cloonan","startTime":2359.256,"endTime":2362.59,"body":"exists, and we're going to"},{"speaker":"Mike Cloonan","startTime":2359.256,"endTime":2362.59,"body":"leverage this very new, first in"},{"speaker":"Mike Cloonan","startTime":2362.646,"endTime":2366.149,"body":"class target called NBD1, which"},{"speaker":"Mike Cloonan","startTime":2362.646,"endTime":2366.149,"body":"is not, it's not a new target,"},{"speaker":"Mike Cloonan","startTime":2366.206,"endTime":2369.313,"body":"per se, in terms of being"},{"speaker":"Mike Cloonan","startTime":2366.206,"endTime":2369.313,"body":"studied. It's a new target in"},{"speaker":"Mike Cloonan","startTime":2369.37,"endTime":2372.534,"body":"that, for the first time,"},{"speaker":"Mike Cloonan","startTime":2369.37,"endTime":2372.534,"body":"somebody is in the clinic with"},{"speaker":"Mike Cloonan","startTime":2372.59,"endTime":2376.15,"body":"NBD1. And it really is the key"},{"speaker":"Mike Cloonan","startTime":2372.59,"endTime":2376.15,"body":"to unlocking more CFTR function."},{"speaker":"Mike Cloonan","startTime":2376.206,"endTime":2379.37,"body":"It helps fully correct the"},{"speaker":"Mike Cloonan","startTime":2376.206,"endTime":2379.37,"body":"protein. And if you can fully"},{"speaker":"Mike Cloonan","startTime":2379.427,"endTime":2382.704,"body":"correct the protein, you can"},{"speaker":"Mike Cloonan","startTime":2379.427,"endTime":2382.704,"body":"fully normalize its function."},{"speaker":"Mike Cloonan","startTime":2382.761,"endTime":2386.32,"body":"And one of the ways we are going"},{"speaker":"Mike Cloonan","startTime":2382.761,"endTime":2386.32,"body":"to get there and to drive that"},{"speaker":"Mike Cloonan","startTime":2386.377,"endTime":2389.993,"body":"incremental benefit for patients"},{"speaker":"Mike Cloonan","startTime":2386.377,"endTime":2389.993,"body":"in a clinically meaningful way,"},{"speaker":"Mike Cloonan","startTime":2390.049,"endTime":2393.27,"body":"is to combine NBD1 with one"},{"speaker":"Mike Cloonan","startTime":2390.049,"endTime":2393.27,"body":"other complementary mechanism"},{"speaker":"Mike Cloonan","startTime":2393.326,"endTime":2396.886,"body":"that we have in our portfolio."},{"speaker":"Mike Cloonan","startTime":2393.326,"endTime":2396.886,"body":"And when we do that as part of a"},{"speaker":"Mike Cloonan","startTime":2396.942,"endTime":2400.389,"body":"dual combination, we have the"},{"speaker":"Mike Cloonan","startTime":2396.942,"endTime":2400.389,"body":"potential to raise the efficacy"},{"speaker":"Mike Cloonan","startTime":2400.445,"endTime":2403.327,"body":"bar and deliver meaningful"},{"speaker":"Mike Cloonan","startTime":2400.445,"endTime":2403.327,"body":"clinical improvement for"},{"speaker":"Mike Cloonan","startTime":2403.383,"endTime":2404.74,"body":"patients living with CF."},{"speaker":"Mike Cloonan","startTime":2404.74,"endTime":2407.883,"body":"We talked a lot about the"},{"speaker":"Mike Cloonan","startTime":2404.74,"endTime":2407.883,"body":"strategic optionality. That's a"},{"speaker":"Mike Cloonan","startTime":2407.939,"endTime":2411.413,"body":"big part of what we're building."},{"speaker":"Mike Cloonan","startTime":2407.939,"endTime":2411.413,"body":"Our portfolio has strength and"},{"speaker":"Mike Cloonan","startTime":2411.468,"endTime":2414.557,"body":"depth, both across many"},{"speaker":"Mike Cloonan","startTime":2411.468,"endTime":2414.557,"body":"dimensions. We're entering a key"},{"speaker":"Mike Cloonan","startTime":2414.612,"endTime":2417.646,"body":"point in our life cycle at"},{"speaker":"Mike Cloonan","startTime":2414.612,"endTime":2417.646,"body":"Sionna, where we're entering"},{"speaker":"Mike Cloonan","startTime":2417.701,"endTime":2421.01,"body":"phase two with this add-on to"},{"speaker":"Mike Cloonan","startTime":2417.701,"endTime":2421.01,"body":"the standard of care, proof of"},{"speaker":"Mike Cloonan","startTime":2421.066,"endTime":2424.43,"body":"concept, while at the same time"},{"speaker":"Mike Cloonan","startTime":2421.066,"endTime":2424.43,"body":"running this dual combination"},{"speaker":"Mike Cloonan","startTime":2424.485,"endTime":2427.519,"body":"healthy volunteer study with"},{"speaker":"Mike Cloonan","startTime":2424.485,"endTime":2427.519,"body":"SION 451. And one thing we"},{"speaker":"Mike Cloonan","startTime":2427.574,"endTime":2430.718,"body":"didn't talk about is we will"},{"speaker":"Mike Cloonan","startTime":2427.574,"endTime":2430.718,"body":"have data from both of those"},{"speaker":"Mike Cloonan","startTime":2430.773,"endTime":2434.248,"body":"studies in the middle of 202o."},{"speaker":"Mike Cloonan","startTime":2430.773,"endTime":2434.248,"body":"So a very impactful less than 12"},{"speaker":"Mike Cloonan","startTime":2434.303,"endTime":2437.723,"body":"months now for Sionna, and we're"},{"speaker":"Mike Cloonan","startTime":2434.303,"endTime":2437.723,"body":"in a very fortunate financial"},{"speaker":"Mike Cloonan","startTime":2437.778,"endTime":2440.977,"body":"position because we recently"},{"speaker":"Mike Cloonan","startTime":2437.778,"endTime":2440.977,"body":"completed our IPO, as you may"},{"speaker":"Mike Cloonan","startTime":2441.032,"endTime":2444.396,"body":"have seen back in February of"},{"speaker":"Mike Cloonan","startTime":2441.032,"endTime":2444.396,"body":"this year, where we raised over"},{"speaker":"Mike Cloonan","startTime":2444.452,"endTime":2447.926,"body":"$200 million. It has provided a"},{"speaker":"Mike Cloonan","startTime":2444.452,"endTime":2447.926,"body":"lot of financial flexibility to"},{"speaker":"Mike Cloonan","startTime":2447.982,"endTime":2451.181,"body":"execute that strategy that we've"},{"speaker":"Mike Cloonan","startTime":2447.982,"endTime":2451.181,"body":"talked about. And so very"},{"speaker":"Mike Cloonan","startTime":2451.236,"endTime":2453.607,"body":"important year, a"},{"speaker":"Mike Cloonan","startTime":2451.236,"endTime":2453.607,"body":"transformational year for"},{"speaker":"Mike Cloonan","startTime":2453.663,"endTime":2457.027,"body":"Sionna. But we've put ourselves"},{"speaker":"Mike Cloonan","startTime":2453.663,"endTime":2457.027,"body":"in the position, through very"},{"speaker":"Mike Cloonan","startTime":2457.082,"endTime":2460.612,"body":"strong execution, to be here and"},{"speaker":"Mike Cloonan","startTime":2457.082,"endTime":2460.612,"body":"to turn those cards over in the"},{"speaker":"Mike Cloonan","startTime":2460.667,"endTime":2461.44,"body":"middle of 2026"},{"speaker":"John Simboli","startTime":2461.44,"endTime":2464.62,"body":"Mike, thanks for"},{"speaker":"John Simboli","startTime":2461.44,"endTime":2464.62,"body":"speaking with me today."},{"speaker":"Mike Cloonan","startTime":2464.62,"endTime":2466.254,"body":"Thank you, John."},{"speaker":"Mike Cloonan","startTime":2464.62,"endTime":2466.254,"body":"It's been a real pleasure. I"},{"speaker":"Mike Cloonan","startTime":2466.291,"endTime":2468.58,"body":"really appreciate the time and"},{"speaker":"Mike Cloonan","startTime":2466.291,"endTime":2468.58,"body":"being able to talk about Sionna."}]}