{"version":"1.0.0","segments":[{"speaker":"David Southwell","startTime":1.77,"endTime":8.82,"body":"To the extent"},{"speaker":"David Southwell","startTime":1.77,"endTime":8.82,"body":"that you're relatively humble"},{"speaker":"David Southwell","startTime":9.12,"endTime":11.13,"body":"and transparent, it helps."},{"speaker":"John Simboli","startTime":11.87,"endTime":15.62,"body":"That's the voice"},{"speaker":"John Simboli","startTime":11.87,"endTime":15.62,"body":"of David Southwell, CEO of"},{"speaker":"John Simboli","startTime":15.62,"endTime":19.49,"body":"Volastra Therapeutics,"},{"speaker":"John Simboli","startTime":15.62,"endTime":19.49,"body":"headquartered in New York."},{"speaker":"John Simboli","startTime":19.49,"endTime":22.55,"body":"Listen in to hear insights from"},{"speaker":"John Simboli","startTime":19.49,"endTime":22.55,"body":"David about leadership in"},{"speaker":"John Simboli","startTime":22.55,"endTime":26.75,"body":"biopharma and how Volastra is"},{"speaker":"John Simboli","startTime":22.55,"endTime":26.75,"body":"working to discover and develop"},{"speaker":"John Simboli","startTime":26.75,"endTime":31.34,"body":"oncology therapeutics targeting"},{"speaker":"John Simboli","startTime":26.75,"endTime":31.34,"body":"chromosomal instability, a"},{"speaker":"John Simboli","startTime":31.34,"endTime":36.125,"body":"vulnerability of cancers. I'm"},{"speaker":"John Simboli","startTime":31.34,"endTime":36.125,"body":"John Simboli. You're listening"},{"speaker":"John Simboli","startTime":36.125,"endTime":38.615,"body":"to BioBoss."},{"speaker":"John Simboli","startTime":38.615,"endTime":42.935,"body":"Welcome to BioBoss, David. As"},{"speaker":"John Simboli","startTime":38.615,"endTime":42.935,"body":"you gained executive experience,"},{"speaker":"John Simboli","startTime":42.935,"endTime":46.505,"body":"did you find yourself at any"},{"speaker":"John Simboli","startTime":42.935,"endTime":46.505,"body":"point thinking, you know, I'm"},{"speaker":"John Simboli","startTime":46.505,"endTime":50.675,"body":"really, this a natural fit for"},{"speaker":"John Simboli","startTime":46.505,"endTime":50.675,"body":"me. I'm really cut out to be a"},{"speaker":"John Simboli","startTime":50.675,"endTime":53.945,"body":"CEO, or is it a more organic"},{"speaker":"John Simboli","startTime":50.675,"endTime":53.945,"body":"kind of thing? It just sort of"},{"speaker":"John Simboli","startTime":53.945,"endTime":55.325,"body":"happens."},{"speaker":"David Southwell","startTime":55.36,"endTime":58.21,"body":"Well, I think"},{"speaker":"David Southwell","startTime":55.36,"endTime":58.21,"body":"to some extent, I just have a"},{"speaker":"David Southwell","startTime":58.21,"endTime":63.82,"body":"very low tolerance for boredom,"},{"speaker":"David Southwell","startTime":58.21,"endTime":63.82,"body":"and the one thing about biotech"},{"speaker":"David Southwell","startTime":63.82,"endTime":67.78,"body":"is you're never bored. You come"},{"speaker":"David Southwell","startTime":63.82,"endTime":67.78,"body":"into a company, with most"},{"speaker":"David Southwell","startTime":67.78,"endTime":72.37,"body":"businesses you're trying to"},{"speaker":"David Southwell","startTime":67.78,"endTime":72.37,"body":"control the risks, and your main"},{"speaker":"David Southwell","startTime":72.37,"endTime":77.14,"body":"risk is a  competitor. And you"},{"speaker":"David Southwell","startTime":72.37,"endTime":77.14,"body":"come in and you figure out what"},{"speaker":"David Southwell","startTime":77.14,"endTime":79.915,"body":"your advantage is against the"},{"speaker":"David Southwell","startTime":77.14,"endTime":79.915,"body":"competitor, and you maintain"},{"speaker":"David Southwell","startTime":79.915,"endTime":83.275,"body":"that advantage, and then you"},{"speaker":"David Southwell","startTime":79.915,"endTime":83.275,"body":"just kind of keep going and"},{"speaker":"David Southwell","startTime":83.275,"endTime":87.595,"body":"build the company. In biotech,"},{"speaker":"David Southwell","startTime":83.275,"endTime":87.595,"body":"you deal with uncontrollable"},{"speaker":"David Southwell","startTime":87.595,"endTime":90.985,"body":"risks, whether you're a"},{"speaker":"David Southwell","startTime":87.595,"endTime":90.985,"body":"scientist or a business person."},{"speaker":"David Southwell","startTime":90.985,"endTime":94.975,"body":"You know, preclinical data,"},{"speaker":"David Southwell","startTime":90.985,"endTime":94.975,"body":"unfortunately, more often than"},{"speaker":"David Southwell","startTime":94.975,"endTime":102.46,"body":"not, do not translate into good"},{"speaker":"David Southwell","startTime":94.975,"endTime":102.46,"body":"clinical data, and you can get"},{"speaker":"David Southwell","startTime":102.46,"endTime":107.02,"body":"tripped up by the business side"},{"speaker":"David Southwell","startTime":102.46,"endTime":107.02,"body":"of things. Often we're a very"},{"speaker":"David Southwell","startTime":107.02,"endTime":112.18,"body":"science oriented industry, and"},{"speaker":"David Southwell","startTime":107.02,"endTime":112.18,"body":"sometimes people get too deep"},{"speaker":"David Southwell","startTime":112.18,"endTime":115.6,"body":"into the science in that they"},{"speaker":"David Southwell","startTime":112.18,"endTime":115.6,"body":"realize that they've developed"},{"speaker":"David Southwell","startTime":115.6,"endTime":119.59,"body":"the perfect solution to a very"},{"speaker":"David Southwell","startTime":115.6,"endTime":119.59,"body":"small problem, or the perfect"},{"speaker":"David Southwell","startTime":119.59,"endTime":123.01,"body":"solution to a problem that"},{"speaker":"David Southwell","startTime":119.59,"endTime":123.01,"body":"someone else has solved a few"},{"speaker":"David Southwell","startTime":123.01,"endTime":125.17,"body":"years ago, and you just didn't"},{"speaker":"David Southwell","startTime":123.01,"endTime":125.17,"body":"notice it."},{"speaker":"David Southwell","startTime":125.54,"endTime":130.46,"body":"So I think the the situational"},{"speaker":"David Southwell","startTime":125.54,"endTime":130.46,"body":"awareness component of this"},{"speaker":"David Southwell","startTime":130.46,"endTime":135.26,"body":"industry is something that"},{"speaker":"David Southwell","startTime":130.46,"endTime":135.26,"body":"really needs to be kept in mind."},{"speaker":"David Southwell","startTime":135.26,"endTime":139.28,"body":"You know, you can have a really"},{"speaker":"David Southwell","startTime":135.26,"endTime":139.28,"body":"good scientific idea, but you've"},{"speaker":"David Southwell","startTime":139.28,"endTime":142.67,"body":"just got to keep an eye on the"},{"speaker":"David Southwell","startTime":139.28,"endTime":142.67,"body":"market and cell therapy, as an"},{"speaker":"David Southwell","startTime":142.67,"endTime":147.41,"body":"example, is I mean it's a it's"},{"speaker":"David Southwell","startTime":142.67,"endTime":147.41,"body":"really helped an awful lot of"},{"speaker":"David Southwell","startTime":147.41,"endTime":151.055,"body":"patients. But ultimately, the"},{"speaker":"David Southwell","startTime":147.41,"endTime":151.055,"body":"question is, will the payers pay"},{"speaker":"David Southwell","startTime":151.055,"endTime":155.045,"body":"for it? And will the payers pay"},{"speaker":"David Southwell","startTime":151.055,"endTime":155.045,"body":"for it? And how many? Once you"},{"speaker":"David Southwell","startTime":155.045,"endTime":158.555,"body":"start slicing and dicing your"},{"speaker":"David Southwell","startTime":155.045,"endTime":158.555,"body":"patients for people that have"},{"speaker":"David Southwell","startTime":158.555,"endTime":161.105,"body":"the particular antigen that"},{"speaker":"David Southwell","startTime":158.555,"endTime":161.105,"body":"you're going after or the"},{"speaker":"David Southwell","startTime":161.105,"endTime":166.565,"body":"particular HLA, how big is the"},{"speaker":"David Southwell","startTime":161.105,"endTime":166.565,"body":"market really, and then how many"},{"speaker":"David Southwell","startTime":166.565,"endTime":170.015,"body":"of those patients are covered by"},{"speaker":"David Southwell","startTime":166.565,"endTime":170.015,"body":"insurers that will pay for it,"},{"speaker":"David Southwell","startTime":170.555,"endTime":173.84,"body":"and then of course now you're"},{"speaker":"David Southwell","startTime":170.555,"endTime":173.84,"body":"dealing with international"},{"speaker":"David Southwell","startTime":173.84,"endTime":177.23,"body":"reimbursement, and I'm on also"},{"speaker":"David Southwell","startTime":173.84,"endTime":177.23,"body":"on the board of PTC"},{"speaker":"David Southwell","startTime":177.26,"endTime":181.31,"body":"Therapeutics, which I've been on"},{"speaker":"David Southwell","startTime":177.26,"endTime":181.31,"body":"the board of 20 years, and and"},{"speaker":"David Southwell","startTime":181.31,"endTime":186.29,"body":"they've got many drugs on the"},{"speaker":"David Southwell","startTime":181.31,"endTime":186.29,"body":"market internationally, and over"},{"speaker":"David Southwell","startTime":186.29,"endTime":190.79,"body":"there the reimbursement is often"},{"speaker":"David Southwell","startTime":186.29,"endTime":190.79,"body":"driven by one government. So you"},{"speaker":"David Southwell","startTime":190.79,"endTime":195.425,"body":"have one customer, and that"},{"speaker":"David Southwell","startTime":190.79,"endTime":195.425,"body":"customer can pull down a pretty"},{"speaker":"David Southwell","startTime":195.425,"endTime":199.685,"body":"attractive price, but then"},{"speaker":"David Southwell","startTime":195.425,"endTime":199.685,"body":"again, that creates the problem"},{"speaker":"David Southwell","startTime":199.685,"endTime":203.585,"body":"of most favored nation status."},{"speaker":"David Southwell","startTime":199.685,"endTime":203.585,"body":"So, if you have a drug and"},{"speaker":"David Southwell","startTime":203.585,"endTime":206.675,"body":"you've negotiated a price that"},{"speaker":"David Southwell","startTime":203.585,"endTime":206.675,"body":"works really well, given the"},{"speaker":"David Southwell","startTime":206.675,"endTime":210.335,"body":"volume that you have in a"},{"speaker":"David Southwell","startTime":206.675,"endTime":210.335,"body":"particular European country, if"},{"speaker":"David Southwell","startTime":210.335,"endTime":213.725,"body":"all of a sudden you have to"},{"speaker":"David Southwell","startTime":210.335,"endTime":213.725,"body":"charge that price in the U.S. it"},{"speaker":"David Southwell","startTime":213.725,"endTime":218.45,"body":"could drive you out of business."},{"speaker":"David Southwell","startTime":213.725,"endTime":218.45,"body":"So, there are so many different"},{"speaker":"David Southwell","startTime":218.45,"endTime":224.99,"body":"variables that I think any"},{"speaker":"David Southwell","startTime":218.45,"endTime":224.99,"body":"biotech CEO who honestly says"},{"speaker":"David Southwell","startTime":224.99,"endTime":231.02,"body":"that they sleep well at night is"},{"speaker":"David Southwell","startTime":224.99,"endTime":231.02,"body":"probably naive."},{"speaker":"John Simboli","startTime":231.02,"endTime":233.87,"body":"I've asked a"},{"speaker":"John Simboli","startTime":231.02,"endTime":233.87,"body":"variation on where you are right"},{"speaker":"John Simboli","startTime":233.87,"endTime":238.82,"body":"now on several of the BioBoss"},{"speaker":"John Simboli","startTime":233.87,"endTime":238.82,"body":"discussions along lines of well,"},{"speaker":"John Simboli","startTime":240.125,"endTime":244.805,"body":"you know, in a framework in an"},{"speaker":"John Simboli","startTime":240.125,"endTime":244.805,"body":"industry where so little is"},{"speaker":"John Simboli","startTime":244.805,"endTime":247.205,"body":"there are so many things that"},{"speaker":"John Simboli","startTime":244.805,"endTime":247.205,"body":"are not under one's control as"},{"speaker":"John Simboli","startTime":247.205,"endTime":250.955,"body":"CEO. How do you reach decisions?"},{"speaker":"John Simboli","startTime":247.205,"endTime":250.955,"body":"How do you just keep from being"},{"speaker":"John Simboli","startTime":250.955,"endTime":253.445,"body":"paralyzed by the lack of"},{"speaker":"John Simboli","startTime":250.955,"endTime":253.445,"body":"information or the lack of"},{"speaker":"John Simboli","startTime":253.445,"endTime":257.135,"body":"certainty? I've had CEOs say to"},{"speaker":"John Simboli","startTime":253.445,"endTime":257.135,"body":"me, \"Well, I just had to learn"},{"speaker":"John Simboli","startTime":257.135,"endTime":260.045,"body":"that I could always go back and"},{"speaker":"John Simboli","startTime":257.135,"endTime":260.045,"body":"fix it. I've had other ones say,"},{"speaker":"John Simboli","startTime":260.045,"endTime":263.45,"body":"\"Oh no, the secret is to see"},{"speaker":"John Simboli","startTime":260.045,"endTime":263.45,"body":"around the corner and to"},{"speaker":"John Simboli","startTime":263.45,"endTime":266.42,"body":"anticipate problems. Have lots"},{"speaker":"John Simboli","startTime":263.45,"endTime":266.42,"body":"of options set up, and I know"},{"speaker":"John Simboli","startTime":266.42,"endTime":269.6,"body":"there's no simple answer to"},{"speaker":"John Simboli","startTime":266.42,"endTime":269.6,"body":"that. But how do you keep going"},{"speaker":"John Simboli","startTime":269.6,"endTime":271.97,"body":"when you don't know what you"},{"speaker":"John Simboli","startTime":269.6,"endTime":271.97,"body":"don't know?"},{"speaker":"David Southwell","startTime":271.96,"endTime":274.846,"body":"Well, I think"},{"speaker":"David Southwell","startTime":271.96,"endTime":274.846,"body":"you just try to control the"},{"speaker":"David Southwell","startTime":274.916,"endTime":279.07,"body":"controllables. You hope that"},{"speaker":"David Southwell","startTime":274.916,"endTime":279.07,"body":"you're working with people who"},{"speaker":"David Southwell","startTime":279.14,"endTime":283.435,"body":"feel the same way. Most notably,"},{"speaker":"David Southwell","startTime":279.14,"endTime":283.435,"body":"boards. If you're a CEO, you"},{"speaker":"David Southwell","startTime":283.505,"endTime":287.659,"body":"ultimately report to the board,"},{"speaker":"David Southwell","startTime":283.505,"endTime":287.659,"body":"and you know you need to be"},{"speaker":"David Southwell","startTime":287.729,"endTime":292.024,"body":"transparent about the risks. If"},{"speaker":"David Southwell","startTime":287.729,"endTime":292.024,"body":"you're taking a major risk on"},{"speaker":"David Southwell","startTime":292.094,"endTime":296.037,"body":"something, maybe you're"},{"speaker":"David Southwell","startTime":292.094,"endTime":296.037,"body":"launching a new therapeutic, and"},{"speaker":"David Southwell","startTime":296.107,"endTime":300.402,"body":"you need to price it. You know"},{"speaker":"David Southwell","startTime":296.107,"endTime":300.402,"body":"if you launch it and you price"},{"speaker":"David Southwell","startTime":300.472,"endTime":304.485,"body":"it; it's very difficult to"},{"speaker":"David Southwell","startTime":300.472,"endTime":304.485,"body":"significantly raise the price."},{"speaker":"David Southwell","startTime":304.555,"endTime":308.568,"body":"If you price it too low, it's"},{"speaker":"David Southwell","startTime":304.555,"endTime":308.568,"body":"very difficult to raise the"},{"speaker":"David Southwell","startTime":308.639,"endTime":312.863,"body":"price. If you price it too high,"},{"speaker":"David Southwell","startTime":308.639,"endTime":312.863,"body":"you can certainly lower the"},{"speaker":"David Southwell","startTime":312.933,"endTime":317.087,"body":"price, and that creates an"},{"speaker":"David Southwell","startTime":312.933,"endTime":317.087,"body":"unfortunate incentive with a lot"},{"speaker":"David Southwell","startTime":317.157,"endTime":321.592,"body":"of companies to start out with a"},{"speaker":"David Southwell","startTime":317.157,"endTime":321.592,"body":"very high price, which is just"},{"speaker":"David Southwell","startTime":321.663,"endTime":326.098,"body":"unfortunate for the world that"},{"speaker":"David Southwell","startTime":321.663,"endTime":326.098,"body":"we live in. But there are things"},{"speaker":"David Southwell","startTime":326.169,"endTime":330.181,"body":"that you can change, and there"},{"speaker":"David Southwell","startTime":326.169,"endTime":330.181,"body":"are things that you can't."},{"speaker":"David Southwell","startTime":330.252,"endTime":334.476,"body":"Pricing a drug is something"},{"speaker":"David Southwell","startTime":330.252,"endTime":334.476,"body":"where if you make a mistake, you"},{"speaker":"David Southwell","startTime":334.546,"endTime":338.841,"body":"can adjust for it. But if you"},{"speaker":"David Southwell","startTime":334.546,"endTime":338.841,"body":"devote your if you start with a"},{"speaker":"David Southwell","startTime":338.911,"endTime":343.346,"body":"wide funnel of discovery assets"},{"speaker":"David Southwell","startTime":338.911,"endTime":343.346,"body":"that you're developing, and you"},{"speaker":"David Southwell","startTime":343.417,"endTime":347.711,"body":"make the wrong decision on which"},{"speaker":"David Southwell","startTime":343.417,"endTime":347.711,"body":"one to take into the clinic,"},{"speaker":"David Southwell","startTime":347.782,"endTime":352.217,"body":"you're stuck. Because once you"},{"speaker":"David Southwell","startTime":347.782,"endTime":352.217,"body":"get a lead drug into the clinic,"},{"speaker":"David Southwell","startTime":352.287,"endTime":356.511,"body":"even if you've got a really"},{"speaker":"David Southwell","startTime":352.287,"endTime":356.511,"body":"interesting set of things behind"},{"speaker":"David Southwell","startTime":356.582,"endTime":360.595,"body":"it, when you come to raise"},{"speaker":"David Southwell","startTime":356.582,"endTime":360.595,"body":"money, investors have a ahabit"},{"speaker":"David Southwell","startTime":360.665,"endTime":365.03,"body":"which is a very natural habit,"},{"speaker":"David Southwell","startTime":360.665,"endTime":365.03,"body":"but CEOs would probably call it"},{"speaker":"David Southwell","startTime":365.1,"endTime":368.621,"body":"a nasty habit of focusing only"},{"speaker":"David Southwell","startTime":365.1,"endTime":368.621,"body":"on your lead asset."},{"speaker":"David Southwell","startTime":368.44,"endTime":372.94,"body":"So, you know, as an example at"},{"speaker":"David Southwell","startTime":368.44,"endTime":372.94,"body":"Velastro, we have our lead asset"},{"speaker":"David Southwell","startTime":372.94,"endTime":377.32,"body":"is small molecule drug that"},{"speaker":"David Southwell","startTime":372.94,"endTime":377.32,"body":"works in a wide variety of"},{"speaker":"David Southwell","startTime":377.32,"endTime":380.95,"body":"cancers with a particular"},{"speaker":"David Southwell","startTime":377.32,"endTime":380.95,"body":"mechanism called KIF-18A"},{"speaker":"David Southwell","startTime":381.07,"endTime":385.03,"body":"inhibition, but we also have"},{"speaker":"David Southwell","startTime":381.07,"endTime":385.03,"body":"some discovery assets that also"},{"speaker":"David Southwell","startTime":385.03,"endTime":389.365,"body":"work in the wider field of"},{"speaker":"David Southwell","startTime":385.03,"endTime":389.365,"body":"chromosomal instability, and"},{"speaker":"David Southwell","startTime":389.365,"endTime":393.205,"body":"there are companies very"},{"speaker":"David Southwell","startTime":389.365,"endTime":393.205,"body":"interested in licensing those."},{"speaker":"David Southwell","startTime":393.205,"endTime":397.135,"body":"But any time we go and talk to"},{"speaker":"David Southwell","startTime":393.205,"endTime":397.135,"body":"investors, they only care about"},{"speaker":"David Southwell","startTime":397.135,"endTime":401.125,"body":"our lead asset. So that is, of"},{"speaker":"David Southwell","startTime":397.135,"endTime":401.125,"body":"course, what we spend most of"},{"speaker":"David Southwell","startTime":401.125,"endTime":405.175,"body":"our time working on. So there"},{"speaker":"David Southwell","startTime":401.125,"endTime":405.175,"body":"are things that you can change."},{"speaker":"David Southwell","startTime":405.175,"endTime":410.17,"body":"If your lead asset goes south,"},{"speaker":"David Southwell","startTime":405.175,"endTime":410.17,"body":"you can twist it around, but it"},{"speaker":"David Southwell","startTime":410.17,"endTime":414.34,"body":"takes years. And a perfect"},{"speaker":"David Southwell","startTime":410.17,"endTime":414.34,"body":"example of that from a long time"},{"speaker":"David Southwell","startTime":414.34,"endTime":417.64,"body":"ago is Forest Labs, who, of"},{"speaker":"David Southwell","startTime":414.34,"endTime":417.64,"body":"course, as we all know,"},{"speaker":"David Southwell","startTime":417.64,"endTime":422.23,"body":"developed Celexa and Lexapro."},{"speaker":"David Southwell","startTime":417.64,"endTime":422.23,"body":"But before that, they had a drug"},{"speaker":"David Southwell","startTime":422.23,"endTime":425.62,"body":"called terodiline that didn't"},{"speaker":"David Southwell","startTime":422.23,"endTime":425.62,"body":"work out at all. And Howard"},{"speaker":"David Southwell","startTime":425.62,"endTime":430.27,"body":"Solomon managed to weather the"},{"speaker":"David Southwell","startTime":425.62,"endTime":430.27,"body":"storm of going through that to"},{"speaker":"David Southwell","startTime":430.27,"endTime":434.035,"body":"develop these antidepressants"},{"speaker":"David Southwell","startTime":430.27,"endTime":434.035,"body":"that became the top-selling"},{"speaker":"David Southwell","startTime":434.035,"endTime":435.805,"body":"SSRIs in the world."},{"speaker":"David Southwell","startTime":435.805,"endTime":439.735,"body":"If you make a mistake and you"},{"speaker":"David Southwell","startTime":435.805,"endTime":439.735,"body":"have to do a pivot, you have to"},{"speaker":"David Southwell","startTime":439.735,"endTime":443.335,"body":"explain that first to your"},{"speaker":"David Southwell","startTime":439.735,"endTime":443.335,"body":"board, and then you have to"},{"speaker":"David Southwell","startTime":443.335,"endTime":451.375,"body":"explain it to your investors."},{"speaker":"David Southwell","startTime":443.335,"endTime":451.375,"body":"Often the board, but most"},{"speaker":"David Southwell","startTime":451.375,"endTime":455.755,"body":"certainly investors, are a"},{"speaker":"David Southwell","startTime":451.375,"endTime":455.755,"body":"perfect canary in a coal mine."},{"speaker":"David Southwell","startTime":455.995,"endTime":459.76,"body":"And oftentimes the investors"},{"speaker":"David Southwell","startTime":455.995,"endTime":459.76,"body":"have been saying for quite a"},{"speaker":"David Southwell","startTime":459.76,"endTime":462.82,"body":"while that they think you're"},{"speaker":"David Southwell","startTime":459.76,"endTime":462.82,"body":"crazy to be doing this"},{"speaker":"David Southwell","startTime":462.82,"endTime":466.45,"body":"particular thing, whatever it"},{"speaker":"David Southwell","startTime":462.82,"endTime":466.45,"body":"is, and you've been saying no,"},{"speaker":"David Southwell","startTime":466.45,"endTime":470.41,"body":"no, no, you're wrong, I'm right,"},{"speaker":"David Southwell","startTime":466.45,"endTime":470.41,"body":"I'm doing the right thing, and"},{"speaker":"David Southwell","startTime":470.41,"endTime":475.63,"body":"then all of a sudden you realize"},{"speaker":"David Southwell","startTime":470.41,"endTime":475.63,"body":"they were right all along, and"},{"speaker":"David Southwell","startTime":475.63,"endTime":478.525,"body":"you know what are you going to"},{"speaker":"David Southwell","startTime":475.63,"endTime":478.525,"body":"do now? And I think the the"},{"speaker":"David Southwell","startTime":478.525,"endTime":482.095,"body":"solution to that, to the extent"},{"speaker":"David Southwell","startTime":478.525,"endTime":482.095,"body":"that there is one is"},{"speaker":"David Southwell","startTime":482.095,"endTime":486.985,"body":"transparency. Is to say to"},{"speaker":"David Southwell","startTime":482.095,"endTime":486.985,"body":"investors, look, there's a"},{"speaker":"David Southwell","startTime":486.985,"endTime":490.315,"body":"difficult decision that I'm"},{"speaker":"David Southwell","startTime":486.985,"endTime":490.315,"body":"facing in terms of let's just"},{"speaker":"use an example","startTime":490.315,"endTime":494.035,"body":"which drug we"},{"speaker":"use an example","startTime":490.315,"endTime":494.035,"body":"push into the clinic when we"},{"speaker":"use an example","startTime":494.035,"endTime":499.645,"body":"have three seemingly equal"},{"speaker":"use an example","startTime":494.035,"endTime":499.645,"body":"opportunities in late stage"},{"speaker":"use an example","startTime":499.645,"endTime":505.09,"body":"preclinical in vivo clinical"},{"speaker":"use an example","startTime":499.645,"endTime":505.09,"body":"preclinical trials, and you you"},{"speaker":"use an example","startTime":505.09,"endTime":508.57,"body":"sort of talk people through it"},{"speaker":"use an example","startTime":505.09,"endTime":508.57,"body":"and say I'm making this decision"},{"speaker":"use an example","startTime":508.57,"endTime":512.08,"body":"and this is why I'm making it,"},{"speaker":"use an example","startTime":508.57,"endTime":512.08,"body":"and if it turns out to be the"},{"speaker":"use an example","startTime":512.08,"endTime":515.95,"body":"wrong decision, you can say you"},{"speaker":"use an example","startTime":512.08,"endTime":515.95,"body":"know you remember we talked"},{"speaker":"use an example","startTime":515.95,"endTime":519.52,"body":"about this and it turns out I"},{"speaker":"use an example","startTime":515.95,"endTime":519.52,"body":"made the wrong decision for a"},{"speaker":"use an example","startTime":519.52,"endTime":523.99,"body":"number of reasons, and some of"},{"speaker":"use an example","startTime":519.52,"endTime":523.99,"body":"those, some of what happened are"},{"speaker":"use an example","startTime":523.99,"endTime":529.015,"body":"things that I really could not"},{"speaker":"use an example","startTime":523.99,"endTime":529.015,"body":"have foreseen back then, but"},{"speaker":"use an example","startTime":529.015,"endTime":533.545,"body":"some of them are things that you"},{"speaker":"use an example","startTime":529.015,"endTime":533.545,"body":"know really I should have looked"},{"speaker":"use an example","startTime":533.545,"endTime":537.805,"body":"at and I didn't, and I think to"},{"speaker":"use an example","startTime":533.545,"endTime":537.805,"body":"the extent that you're"},{"speaker":"use an example","startTime":537.805,"endTime":541.675,"body":"relatively humble and"},{"speaker":"use an example","startTime":537.805,"endTime":541.675,"body":"transparent, it helps."},{"speaker":"use an example","startTime":541.675,"endTime":545.905,"body":"And I mean, I was talking about"},{"speaker":"use an example","startTime":541.675,"endTime":545.905,"body":"Sepracor, when I joined. the"},{"speaker":"use an example","startTime":545.905,"endTime":550.39,"body":"stock was 3. It went down to"},{"speaker":"use an example","startTime":545.905,"endTime":550.39,"body":"1.5, probably as a result of my"},{"speaker":"use an example","startTime":550.39,"endTime":553.9,"body":"joining, and then five years"},{"speaker":"use an example","startTime":550.39,"endTime":553.9,"body":"later, it had gone on a"},{"speaker":"use an example","startTime":553.9,"endTime":558.97,"body":"split-adjusted basis from 1.5 to"},{"speaker":"use an example","startTime":553.9,"endTime":558.97,"body":"140, and then two years later,"},{"speaker":"use an example","startTime":558.97,"endTime":563.26,"body":"it had gone from 140 to 6, and"},{"speaker":"use an example","startTime":558.97,"endTime":563.26,"body":"then it went from 6 to 60. And"},{"speaker":"use an example","startTime":563.26,"endTime":567.91,"body":"what I realized is, when it's"},{"speaker":"use an example","startTime":563.26,"endTime":567.91,"body":"140, it's awfully tempting to be"},{"speaker":"use an example","startTime":567.91,"endTime":572.05,"body":"arrogant. You know, you walk"},{"speaker":"use an example","startTime":567.91,"endTime":572.05,"body":"into a conference room, and the"},{"speaker":"use an example","startTime":572.05,"endTime":574.645,"body":"room is full. There's several"},{"speaker":"use an example","startTime":572.05,"endTime":574.645,"body":"hundred people in the room."},{"speaker":"use an example","startTime":575.065,"endTime":579.295,"body":"They, you have fund managers"},{"speaker":"use an example","startTime":575.065,"endTime":579.295,"body":"thanking you for for making them"},{"speaker":"use an example","startTime":579.295,"endTime":582.985,"body":"so much money. In fact, they"},{"speaker":"use an example","startTime":579.295,"endTime":582.985,"body":"should be shorting your stock"},{"speaker":"use an example","startTime":582.985,"endTime":587.005,"body":"like crazy, and it's awfully"},{"speaker":"use an example","startTime":582.985,"endTime":587.005,"body":"tempting to be arrogant. And"},{"speaker":"use an example","startTime":587.005,"endTime":590.905,"body":"then, when things go badly, it's"},{"speaker":"use an example","startTime":587.005,"endTime":590.905,"body":"awfully tempting to be"},{"speaker":"use an example","startTime":590.905,"endTime":595.27,"body":"depressed. And to my mind, the"},{"speaker":"use an example","startTime":590.905,"endTime":595.27,"body":"challenge is staying in the"},{"speaker":"use an example","startTime":595.27,"endTime":598.33,"body":"middle. You can't be arrogant"},{"speaker":"use an example","startTime":595.27,"endTime":598.33,"body":"when things are going well, and"},{"speaker":"use an example","startTime":598.33,"endTime":601.63,"body":"you can't be depressed when"},{"speaker":"use an example","startTime":598.33,"endTime":601.63,"body":"things are going badly."},{"speaker":"use an example","startTime":601.63,"endTime":605.23,"body":"You may make the wrong"},{"speaker":"use an example","startTime":601.63,"endTime":605.23,"body":"decisions, but a lot of the"},{"speaker":"use an example","startTime":605.23,"endTime":610.3,"body":"stuff that happens in this"},{"speaker":"use an example","startTime":605.23,"endTime":610.3,"body":"industry is really not"},{"speaker":"use an example","startTime":610.3,"endTime":615.31,"body":"necessarily foreseeable. Science"},{"speaker":"use an example","startTime":610.3,"endTime":615.31,"body":"happens, and there's a reason"},{"speaker":"use an example","startTime":615.31,"endTime":620.905,"body":"that the FDA makes us start with"},{"speaker":"use an example","startTime":615.31,"endTime":620.905,"body":"chemistry or basic biology and"},{"speaker":"use an example","startTime":620.905,"endTime":625.945,"body":"take it through into animals,"},{"speaker":"use an example","startTime":620.905,"endTime":625.945,"body":"and then take it into you know"},{"speaker":"use an example","startTime":625.945,"endTime":630.595,"body":"healthy humans, and then take it"},{"speaker":"use an example","startTime":625.945,"endTime":630.595,"body":"into sick humans. It's a pretty"},{"speaker":"use an example","startTime":630.595,"endTime":635.515,"body":"brutal drop off in success rates"},{"speaker":"use an example","startTime":630.595,"endTime":635.515,"body":"as you move through that"},{"speaker":"use an example","startTime":635.515,"endTime":639.295,"body":"development cycle. The problem"},{"speaker":"use an example","startTime":635.515,"endTime":639.295,"body":"with blaming other people in"},{"speaker":"use an example","startTime":639.295,"endTime":643.81,"body":"this industry, as a CEO, is"},{"speaker":"use an example","startTime":639.295,"endTime":643.81,"body":"you're blaming someone that"},{"speaker":"use an example","startTime":643.81,"endTime":649.03,"body":"either is on your board, or and"},{"speaker":"use an example","startTime":643.81,"endTime":649.03,"body":"in which case you should have"},{"speaker":"use an example","startTime":649.03,"endTime":652.63,"body":"convinced them to do what you"},{"speaker":"use an example","startTime":649.03,"endTime":652.63,"body":"wanted, or you're blaming"},{"speaker":"use an example","startTime":652.63,"endTime":656.38,"body":"someone who works for you, and"},{"speaker":"use an example","startTime":652.63,"endTime":656.38,"body":"that is absolutely not fair"},{"speaker":"use an example","startTime":656.38,"endTime":661.99,"body":"because they work for you. And"},{"speaker":"use an example","startTime":656.38,"endTime":661.99,"body":"it's up to you to apply a filter"},{"speaker":"use an example","startTime":663.085,"endTime":669.715,"body":"to what the people that work for"},{"speaker":"use an example","startTime":663.085,"endTime":669.715,"body":"you are trying to do. And so"},{"speaker":"use an example","startTime":669.715,"endTime":675.025,"body":"it's very hard to blame mistakes"},{"speaker":"use an example","startTime":669.715,"endTime":675.025,"body":"on anyone other than yourself,"},{"speaker":"use an example","startTime":675.025,"endTime":679.255,"body":"unless there's some absolutely"},{"speaker":"use an example","startTime":675.025,"endTime":679.255,"body":"extrinsic, you know, market"},{"speaker":"use an example","startTime":679.255,"endTime":684.445,"body":"event. It's really tough to not"},{"speaker":"use an example","startTime":679.255,"endTime":684.445,"body":"blame yourself, but it's always"},{"speaker":"use an example","startTime":684.745,"endTime":687.55,"body":"it's difficult to blame yourself"},{"speaker":"use an example","startTime":684.745,"endTime":687.55,"body":"because you could get fired."},{"speaker":"use an example","startTime":687.55,"endTime":691.0,"body":"Hey, you know, at some point one"},{"speaker":"use an example","startTime":687.55,"endTime":691.0,"body":"has to have self-confidence and"},{"speaker":"use an example","startTime":691.0,"endTime":694.87,"body":"say, if the worst comes to the"},{"speaker":"use an example","startTime":691.0,"endTime":694.87,"body":"worst, I'll do something else."},{"speaker":"John Simboli","startTime":694.87,"endTime":697.36,"body":"When you were a"},{"speaker":"John Simboli","startTime":694.87,"endTime":697.36,"body":"younger person, or maybe even a"},{"speaker":"John Simboli","startTime":697.36,"endTime":702.1,"body":"young person, and trying to"},{"speaker":"John Simboli","startTime":697.36,"endTime":702.1,"body":"anticipate where your life might"},{"speaker":"John Simboli","startTime":702.1,"endTime":707.2,"body":"go. Do you have any recall of"},{"speaker":"John Simboli","startTime":702.1,"endTime":707.2,"body":"those years as to any hints that"},{"speaker":"John Simboli","startTime":707.2,"endTime":710.845,"body":"you would end up being an"},{"speaker":"John Simboli","startTime":707.2,"endTime":710.845,"body":"entrepreneur, an executive, a"},{"speaker":"John Simboli","startTime":710.845,"endTime":714.145,"body":"CEO? I mean, was there some kind"},{"speaker":"John Simboli","startTime":710.845,"endTime":714.145,"body":"of pattern that someone could"},{"speaker":"John Simboli","startTime":714.145,"endTime":716.845,"body":"look and say, \"Oh yeah, I know,"},{"speaker":"John Simboli","startTime":714.145,"endTime":716.845,"body":"I know what David's going to end"},{"speaker":"John Simboli","startTime":716.845,"endTime":717.355,"body":"up doing?"},{"speaker":"David Southwell","startTime":717.51,"endTime":720.48,"body":"The main"},{"speaker":"David Southwell","startTime":717.51,"endTime":720.48,"body":"thing,I grew up in England in"},{"speaker":"David Southwell","startTime":720.48,"endTime":726.09,"body":"the 60s and 70s, and England in"},{"speaker":"David Southwell","startTime":720.48,"endTime":726.09,"body":"the 1970s was a pretty grim"},{"speaker":"David Southwell","startTime":726.09,"endTime":731.97,"body":"place. Margaret Thatcher got"},{"speaker":"David Southwell","startTime":726.09,"endTime":731.97,"body":"elected in 1979, and you know"},{"speaker":"David Southwell","startTime":731.97,"endTime":736.26,"body":"back then, if you made more than"},{"speaker":"David Southwell","startTime":731.97,"endTime":736.26,"body":"20,000 pounds a year, your"},{"speaker":"David Southwell","startTime":736.26,"endTime":741.285,"body":"unearned income was taxed at 98%"},{"speaker":"David Southwell","startTime":736.26,"endTime":741.285,"body":"I mean, it was a grim place, but"},{"speaker":"David Southwell","startTime":741.285,"endTime":745.335,"body":"my mother was American, so I had"},{"speaker":"David Southwell","startTime":741.285,"endTime":745.335,"body":"two passports. And as soon as I"},{"speaker":"David Southwell","startTime":745.335,"endTime":749.325,"body":"got out of school in England, I"},{"speaker":"David Southwell","startTime":745.335,"endTime":749.325,"body":"realized that I wanted to kind"},{"speaker":"David Southwell","startTime":749.325,"endTime":753.435,"body":"of control my own life as"},{"speaker":"David Southwell","startTime":749.325,"endTime":753.435,"body":"opposed to doing what English"},{"speaker":"David Southwell","startTime":753.435,"endTime":758.625,"body":"schoolboys do and go and work in"},{"speaker":"David Southwell","startTime":753.435,"endTime":758.625,"body":"the city or whatever. And so I"},{"speaker":"David Southwell","startTime":758.625,"endTime":762.975,"body":"went to Texas and got a job in"},{"speaker":"David Southwell","startTime":758.625,"endTime":762.975,"body":"the oil industry for my gap"},{"speaker":"David Southwell","startTime":762.975,"endTime":767.73,"body":"year, and I wound up going to"},{"speaker":"David Southwell","startTime":762.975,"endTime":767.73,"body":"Rice because the oil industry"},{"speaker":"David Southwell","startTime":767.73,"endTime":773.04,"body":"was booming in the early '80s."},{"speaker":"David Southwell","startTime":767.73,"endTime":773.04,"body":"So I didn't want to go home, and"},{"speaker":"David Southwell","startTime":773.04,"endTime":777.48,"body":"I wanted to be able to control"},{"speaker":"David Southwell","startTime":773.04,"endTime":777.48,"body":"my life. And so I went to Rice,"},{"speaker":"David Southwell","startTime":777.48,"endTime":781.74,"body":"and then I wound up going to"},{"speaker":"David Southwell","startTime":777.48,"endTime":781.74,"body":"Wall Street, and I really"},{"speaker":"David Southwell","startTime":781.74,"endTime":786.03,"body":"enjoyed Wall Street.  I was in"},{"speaker":"David Southwell","startTime":781.74,"endTime":786.03,"body":"the M\u0026A group at Lehman"},{"speaker":"David Southwell","startTime":786.105,"endTime":794.115,"body":"Brothers, and it was just a"},{"speaker":"David Southwell","startTime":786.105,"endTime":794.115,"body":"rollicking time to be in that."},{"speaker":"David Southwell","startTime":794.115,"endTime":796.815,"body":"And there were people who are"},{"speaker":"David Southwell","startTime":794.115,"endTime":796.815,"body":"now very senior. I mean, the"},{"speaker":"David Southwell","startTime":796.815,"endTime":800.235,"body":"founder of Blackstone was a"},{"speaker":"David Southwell","startTime":796.815,"endTime":800.235,"body":"managing director when I was"},{"speaker":"David Southwell","startTime":800.235,"endTime":804.435,"body":"there, as well as his number"},{"speaker":"David Southwell","startTime":800.235,"endTime":804.435,"body":"two, and really working with"},{"speaker":"David Southwell","startTime":804.435,"endTime":808.725,"body":"very intelligent people. But at"},{"speaker":"David Southwell","startTime":804.435,"endTime":808.725,"body":"the end of the day, I was doing"},{"speaker":"David Southwell","startTime":808.725,"endTime":813.33,"body":"deals for people who were often"},{"speaker":"David Southwell","startTime":808.725,"endTime":813.33,"body":"making, you know, A, making a"},{"speaker":"David Southwell","startTime":813.33,"endTime":816.6,"body":"lot of money, but they were very"},{"speaker":"David Southwell","startTime":813.33,"endTime":816.6,"body":"proud of the companies that they"},{"speaker":"David Southwell","startTime":816.6,"endTime":819.84,"body":"built, and they were proud of"},{"speaker":"David Southwell","startTime":816.6,"endTime":819.84,"body":"the deals that they were doing,"},{"speaker":"David Southwell","startTime":819.84,"endTime":823.65,"body":"and I was stepping in, making it"},{"speaker":"David Southwell","startTime":819.84,"endTime":823.65,"body":"happen, and stepping away."},{"speaker":"David Southwell","startTime":823.65,"endTime":830.64,"body":"So I just kind of every time I"},{"speaker":"David Southwell","startTime":823.65,"endTime":830.64,"body":"wanted to be the client, and I"},{"speaker":"David Southwell","startTime":830.64,"endTime":834.945,"body":"Ithought sort of this is sort of"},{"speaker":"David Southwell","startTime":830.64,"endTime":834.945,"body":"what you have to do. So I think"},{"speaker":"David Southwell","startTime":834.945,"endTime":840.375,"body":"the main theme from being a kid"},{"speaker":"David Southwell","startTime":834.945,"endTime":840.375,"body":"was I wanted to gain control of"},{"speaker":"David Southwell","startTime":840.375,"endTime":845.025,"body":"my own life and biotech, you"},{"speaker":"David Southwell","startTime":840.375,"endTime":845.025,"body":"know, Wall Street is a way to do"},{"speaker":"David Southwell","startTime":845.025,"endTime":849.165,"body":"that. Biotech is also a way to"},{"speaker":"David Southwell","startTime":845.025,"endTime":849.165,"body":"do it because there are lots of"},{"speaker":"David Southwell","startTime":849.165,"endTime":852.735,"body":"different ways to skin a cat, as"},{"speaker":"David Southwell","startTime":849.165,"endTime":852.735,"body":"it were, in a biotech company."},{"speaker":"David Southwell","startTime":852.735,"endTime":858.72,"body":"And you know, two different CEOs"},{"speaker":"David Southwell","startTime":852.735,"endTime":858.72,"body":"in a company will operate them"},{"speaker":"David Southwell","startTime":858.72,"endTime":863.19,"body":"in very different ways. So you"},{"speaker":"David Southwell","startTime":858.72,"endTime":863.19,"body":"better be right, or you better"},{"speaker":"David Southwell","startTime":863.19,"endTime":867.69,"body":"be operating it in a way that"},{"speaker":"David Southwell","startTime":863.19,"endTime":867.69,"body":"will keep your employees, keep a"},{"speaker":"David Southwell","startTime":867.69,"endTime":873.27,"body":"culture of a company, and kind"},{"speaker":"David Southwell","startTime":867.69,"endTime":873.27,"body":"of keep the plates spinning. I"},{"speaker":"David Southwell","startTime":873.27,"endTime":876.63,"body":"think everyone does that in a"},{"speaker":"David Southwell","startTime":873.27,"endTime":876.63,"body":"different way, and that's what I"},{"speaker":"like about this business","startTime":876.63,"endTime":879.885,"body":"is"},{"speaker":"like about this business","startTime":876.63,"endTime":879.885,"body":"that to some extent I can be"},{"speaker":"like about this business","startTime":879.885,"endTime":880.575,"body":"myself."},{"speaker":"John Simboli","startTime":880.0,"endTime":884.53,"body":"If I were to speak"},{"speaker":"John Simboli","startTime":880.0,"endTime":884.53,"body":"your teammates, people who"},{"speaker":"John Simboli","startTime":884.53,"endTime":887.74,"body":"report to you, people who know"},{"speaker":"John Simboli","startTime":884.53,"endTime":887.74,"body":"you well, maybe even members of"},{"speaker":"John Simboli","startTime":887.74,"endTime":892.81,"body":"the board, and ask, well what's"},{"speaker":"John Simboli","startTime":887.74,"endTime":892.81,"body":"David's management approach?"},{"speaker":"John Simboli","startTime":892.81,"endTime":894.73,"body":"What do you think they would"},{"speaker":"John Simboli","startTime":892.81,"endTime":894.73,"body":"say?"},{"speaker":"David Southwell","startTime":894.72,"endTime":897.8,"body":"Well, I know"},{"speaker":"David Southwell","startTime":894.72,"endTime":897.8,"body":"what I hope they would say. It's"},{"speaker":"David Southwell","startTime":897.869,"endTime":901.977,"body":"you know one never sees the"},{"speaker":"David Southwell","startTime":897.869,"endTime":901.977,"body":"bullet that hits one, and so you"},{"speaker":"David Southwell","startTime":902.045,"endTime":906.359,"body":"know, I think you would really"},{"speaker":"David Southwell","startTime":902.045,"endTime":906.359,"body":"have to ask them, and I think it"},{"speaker":"David Southwell","startTime":906.427,"endTime":910.741,"body":"would be it would be the height"},{"speaker":"David Southwell","startTime":906.427,"endTime":910.741,"body":"of arrogance for me to tell you"},{"speaker":"David Southwell","startTime":910.809,"endTime":914.917,"body":"what other people think of me."},{"speaker":"David Southwell","startTime":910.809,"endTime":914.917,"body":"But what I try to do is to be"},{"speaker":"David Southwell","startTime":914.986,"endTime":919.299,"body":"highly collaborative. I like to"},{"speaker":"David Southwell","startTime":914.986,"endTime":919.299,"body":"hire the best people, work with"},{"speaker":"David Southwell","startTime":919.215,"endTime":941.58,"body":"So it becomes a zero sum game,"},{"speaker":"David Southwell","startTime":919.215,"endTime":941.58,"body":"and the challenge at that point"},{"speaker":"David Southwell","startTime":919.367,"endTime":923.475,"body":"the best people, and listen to"},{"speaker":"David Southwell","startTime":919.367,"endTime":923.475,"body":"them, and really talk through"},{"speaker":"David Southwell","startTime":923.544,"endTime":927.857,"body":"major decisions with everybody."},{"speaker":"David Southwell","startTime":923.544,"endTime":927.857,"body":"And oftentimes, the people that"},{"speaker":"David Southwell","startTime":927.926,"endTime":931.897,"body":"work for you, or even that are"},{"speaker":"David Southwell","startTime":927.926,"endTime":931.897,"body":"on your board, would have a"},{"speaker":"David Southwell","startTime":931.965,"endTime":936.142,"body":"different approach than you want"},{"speaker":"David Southwell","startTime":931.965,"endTime":936.142,"body":"to have, and often they have"},{"speaker":"David Southwell","startTime":936.21,"endTime":937.58,"body":"opposing approaches."},{"speaker":"David Southwell","startTime":941.58,"endTime":945.33,"body":"is to say, \"Look, I can't do"},{"speaker":"David Southwell","startTime":941.58,"endTime":945.33,"body":"what both of you want, or I"},{"speaker":"David Southwell","startTime":945.33,"endTime":949.65,"body":"can't do what all of you want. I"},{"speaker":"David Southwell","startTime":945.33,"endTime":949.65,"body":"have to make a decision, and"},{"speaker":"David Southwell","startTime":949.65,"endTime":955.35,"body":"this is what I'm deciding to do."},{"speaker":"David Southwell","startTime":949.65,"endTime":955.35,"body":"And it's not personal. I'm not"},{"speaker":"David Southwell","startTime":955.35,"endTime":959.58,"body":"doing this because I don't like"},{"speaker":"David Southwell","startTime":955.35,"endTime":959.58,"body":"the person whose advice I'm not"},{"speaker":"David Southwell","startTime":959.58,"endTime":963.75,"body":"taking. It's just that at this"},{"speaker":"David Southwell","startTime":959.58,"endTime":963.75,"body":"particular point, I think that I"},{"speaker":"David Southwell","startTime":963.75,"endTime":967.005,"body":"need to take this other person's"},{"speaker":"David Southwell","startTime":963.75,"endTime":967.005,"body":"advice. So it's a bit of a"},{"speaker":"David Southwell","startTime":967.005,"endTime":973.875,"body":"challenge to say no to somebody,"},{"speaker":"David Southwell","startTime":967.005,"endTime":973.875,"body":"but keep them really devoted to"},{"speaker":"David Southwell","startTime":973.875,"endTime":977.655,"body":"the cause. And we're very"},{"speaker":"David Southwell","startTime":973.875,"endTime":977.655,"body":"mission focused. When there's a"},{"speaker":"David Southwell","startTime":977.655,"endTime":981.855,"body":"situation that isn't working out"},{"speaker":"David Southwell","startTime":977.655,"endTime":981.855,"body":"with someone, I always feel as"},{"speaker":"David Southwell","startTime":981.855,"endTime":984.645,"body":"though I'm sending them to a"},{"speaker":"David Southwell","startTime":981.855,"endTime":984.645,"body":"better place by moving them out"},{"speaker":"David Southwell","startTime":984.645,"endTime":988.74,"body":"of the organization that I'm in,"},{"speaker":"David Southwell","startTime":984.645,"endTime":988.74,"body":"and I genuinely feel that way."},{"speaker":"David Southwell","startTime":988.74,"endTime":992.01,"body":"And I say that to them. And"},{"speaker":"David Southwell","startTime":988.74,"endTime":992.01,"body":"there are many people that I've"},{"speaker":"David Southwell","startTime":992.01,"endTime":995.76,"body":"let go that I'm now very good"},{"speaker":"David Southwell","startTime":992.01,"endTime":995.76,"body":"friends with."},{"speaker":"John Simboli","startTime":995.76,"endTime":999.12,"body":"When people ask"},{"speaker":"John Simboli","startTime":995.76,"endTime":999.12,"body":"who is Volastra, how do you like"},{"speaker":"John Simboli","startTime":999.12,"endTime":1000.05,"body":"to answer that?"},{"speaker":"David Southwell","startTime":1000.0,"endTime":1002.55,"body":"We have a brand"},{"speaker":"David Southwell","startTime":1000.0,"endTime":1002.55,"body":"new mechanism for treating"},{"speaker":"David Southwell","startTime":1002.55,"endTime":1008.28,"body":"cancer with a once-a-day pill or"},{"speaker":"David Southwell","startTime":1002.55,"endTime":1008.28,"body":"a series of once-a-day pills,"},{"speaker":"David Southwell","startTime":1008.28,"endTime":1012.27,"body":"depending on the dose. And what"},{"speaker":"David Southwell","startTime":1008.28,"endTime":1012.27,"body":"we're doing is we're countering"},{"speaker":"David Southwell","startTime":1012.27,"endTime":1016.38,"body":"a syndrome called chromosomal"},{"speaker":"David Southwell","startTime":1012.27,"endTime":1016.38,"body":"instability, which exists in"},{"speaker":"David Southwell","startTime":1016.38,"endTime":1022.05,"body":"about 80% of cancers, where in"},{"speaker":"David Southwell","startTime":1016.38,"endTime":1022.05,"body":"cancer cells, as cells divide,"},{"speaker":"David Southwell","startTime":1022.08,"endTime":1026.295,"body":"the chromosomes are unstable,"},{"speaker":"David Southwell","startTime":1022.08,"endTime":1026.295,"body":"whereas in normal cells they're"},{"speaker":"John Simboli","startTime":1023.835,"endTime":1026.325,"body":"Do people ever"},{"speaker":"John Simboli","startTime":1023.835,"endTime":1026.325,"body":"say,"},{"speaker":"John Simboli","startTime":1026.295,"endTime":1030.735,"body":"very orderly and stable. There's"},{"speaker":"John Simboli","startTime":1026.295,"endTime":1030.735,"body":"a particular target within"},{"speaker":"John Simboli","startTime":1030.735,"endTime":1034.425,"body":"chromosomal instability, when"},{"speaker":"John Simboli","startTime":1030.735,"endTime":1034.425,"body":"you remove it in a normal cell,"},{"speaker":"John Simboli","startTime":1034.425,"endTime":1038.535,"body":"it doesn't affect the the cell"},{"speaker":"John Simboli","startTime":1034.425,"endTime":1038.535,"body":"division. If you remove it in a"},{"speaker":"John Simboli","startTime":1038.535,"endTime":1041.895,"body":"cancer cell, it disrupts the"},{"speaker":"John Simboli","startTime":1038.535,"endTime":1041.895,"body":"cancer cell and causes it to"},{"speaker":"John Simboli","startTime":1041.895,"endTime":1042.255,"body":"die."},{"speaker":"David Southwell","startTime":1049.025,"endTime":1050.375,"body":"I am fortunate"},{"speaker":"David Southwell","startTime":1049.025,"endTime":1050.375,"body":"to work with the leading"},{"speaker":"David Southwell","startTime":1050.405,"endTime":1053.855,"body":"researcher in chromosomal"},{"speaker":"David Southwell","startTime":1050.405,"endTime":1053.855,"body":"instability, who was the founder"},{"speaker":"David Southwell","startTime":1053.855,"endTime":1058.325,"body":"of our company, and he came out"},{"speaker":"David Southwell","startTime":1053.855,"endTime":1058.325,"body":"of Sloan Kettering. And there"},{"speaker":"David Southwell","startTime":1058.325,"endTime":1062.345,"body":"are several companies that are"},{"speaker":"David Southwell","startTime":1058.325,"endTime":1062.345,"body":"working on the same mechanism as"},{"speaker":"David Southwell","startTime":1062.345,"endTime":1066.335,"body":"our lead drug. We happen to be"},{"speaker":"David Southwell","startTime":1062.345,"endTime":1066.335,"body":"the furthest along. And when the"},{"speaker":"David Southwell","startTime":1066.335,"endTime":1070.235,"body":"company got going, the the first"},{"speaker":"David Southwell","startTime":1066.335,"endTime":1070.235,"body":"company that actually started"},{"speaker":"David Southwell","startTime":1070.235,"endTime":1074.3,"body":"working with KIF-18A inhibition"},{"speaker":"David Southwell","startTime":1070.235,"endTime":1074.3,"body":"started working with this target"},{"speaker":"David Southwell","startTime":1074.3,"endTime":1079.7,"body":"was Amgen, and we ended up"},{"speaker":"David Southwell","startTime":1074.3,"endTime":1079.7,"body":"in-licensing their drug very"},{"speaker":"David Southwell","startTime":1079.7,"endTime":1083.84,"body":"early on. So we've had the"},{"speaker":"David Southwell","startTime":1079.7,"endTime":1083.84,"body":"ability to test our own"},{"speaker":"David Southwell","startTime":1083.84,"endTime":1088.13,"body":"independently developed compound"},{"speaker":"David Southwell","startTime":1083.84,"endTime":1088.13,"body":"against Amgen's, and we owned"},{"speaker":"David Southwell","startTime":1088.13,"endTime":1093.86,"body":"Amgen's, so we have no reason to"},{"speaker":"David Southwell","startTime":1088.13,"endTime":1093.86,"body":"prefer ours over theirs. It"},{"speaker":"David Southwell","startTime":1093.86,"endTime":1098.015,"body":"turns out, and you know, Amgen"},{"speaker":"David Southwell","startTime":1093.86,"endTime":1098.015,"body":"is a stockholder. We we we know"},{"speaker":"David Southwell","startTime":1098.015,"endTime":1102.995,"body":"them well. It turns out that our"},{"speaker":"David Southwell","startTime":1098.015,"endTime":1102.995,"body":"compound has better efficacy and"},{"speaker":"David Southwell","startTime":1102.995,"endTime":1107.855,"body":"a better side effect profile"},{"speaker":"David Southwell","startTime":1102.995,"endTime":1107.855,"body":"than the Amgen one. So we still"},{"speaker":"David Southwell","startTime":1107.855,"endTime":1111.275,"body":"do work with the Amgen one, but"},{"speaker":"David Southwell","startTime":1107.855,"endTime":1111.275,"body":"we're primarily developing our"},{"speaker":"David Southwell","startTime":1111.275,"endTime":1115.625,"body":"own. And you know, when I was"},{"speaker":"David Southwell","startTime":1111.275,"endTime":1115.625,"body":"working in cell therapy, I"},{"speaker":"David Southwell","startTime":1115.625,"endTime":1119.24,"body":"always was under the impression"},{"speaker":"David Southwell","startTime":1115.625,"endTime":1119.24,"body":"that small molecule drugs would"},{"speaker":"David Southwell","startTime":1119.24,"endTime":1123.86,"body":"never be that effective in"},{"speaker":"David Southwell","startTime":1119.24,"endTime":1123.86,"body":"treating cancer, and that is not"},{"speaker":"David Southwell","startTime":1123.86,"endTime":1127.46,"body":"the case. One of the things that"},{"speaker":"David Southwell","startTime":1123.86,"endTime":1127.46,"body":"we've recently discovered is a"},{"speaker":"David Southwell","startTime":1127.46,"endTime":1132.59,"body":"biomarker that predicts patients"},{"speaker":"David Southwell","startTime":1127.46,"endTime":1132.59,"body":"that.  are going to respond to"},{"speaker":"David Southwell","startTime":1132.59,"endTime":1136.76,"body":"our drug, and the biomarker"},{"speaker":"David Southwell","startTime":1132.59,"endTime":1136.76,"body":"exists in well over 50% of the"},{"speaker":"David Southwell","startTime":1136.76,"endTime":1142.895,"body":"patients. So we can take we can"},{"speaker":"David Southwell","startTime":1136.76,"endTime":1142.895,"body":"do a pan cancer study, and we we"},{"speaker":"David Southwell","startTime":1142.895,"endTime":1147.095,"body":"actually used sub-therapeutic"},{"speaker":"David Southwell","startTime":1142.895,"endTime":1147.095,"body":"doses for some of these. But you"},{"speaker":"David Southwell","startTime":1147.095,"endTime":1152.015,"body":"do a pan cancer study that has"},{"speaker":"David Southwell","startTime":1147.095,"endTime":1152.015,"body":"an ORR rate that is not that"},{"speaker":"David Southwell","startTime":1152.015,"endTime":1157.505,"body":"good of say 14% You then apply"},{"speaker":"David Southwell","startTime":1152.015,"endTime":1157.505,"body":"the biomarker to it, and you get"},{"speaker":"David Southwell","startTime":1157.505,"endTime":1162.215,"body":"that up to 37.5 percent, which"},{"speaker":"David Southwell","startTime":1157.505,"endTime":1162.215,"body":"is much more interesting."},{"speaker":"David Southwell","startTime":1162.0,"endTime":1170.047,"body":"So we are developing. You know,"},{"speaker":"David Southwell","startTime":1162.0,"endTime":1170.047,"body":"we started with a monotherapy."},{"speaker":"David Southwell","startTime":1170.177,"endTime":1178.094,"body":"We then have found a biomarker"},{"speaker":"David Southwell","startTime":1170.177,"endTime":1178.094,"body":"for it, and we're working very"},{"speaker":"David Southwell","startTime":1178.224,"endTime":1185.493,"body":"hard with that, with the"},{"speaker":"David Southwell","startTime":1178.224,"endTime":1185.493,"body":"objective of doing a pan-cancer"},{"speaker":"David Southwell","startTime":1185.622,"endTime":1193.67,"body":"pivotal trial with it. The other"},{"speaker":"David Southwell","startTime":1185.622,"endTime":1193.67,"body":"great thing about chromosomal"},{"speaker":"David Southwell","startTime":1193.799,"endTime":1201.328,"body":"instability is many of the"},{"speaker":"David Southwell","startTime":1193.799,"endTime":1201.328,"body":"standards of care promote, they"},{"speaker":"David Southwell","startTime":1201.457,"endTime":1209.635,"body":"create chromosomal instability."},{"speaker":"David Southwell","startTime":1201.457,"endTime":1209.635,"body":"So, for example, taxanes, which"},{"speaker":"David Southwell","startTime":1209.764,"endTime":1216.384,"body":"are part of the first line"},{"speaker":"David Southwell","startTime":1209.764,"endTime":1216.384,"body":"therapy of many cancers,"},{"speaker":"David Southwell","startTime":1216.514,"endTime":1224.042,"body":"including lung cancers, only"},{"speaker":"David Southwell","startTime":1216.514,"endTime":1224.042,"body":"have about a 10 to 15 percent"},{"speaker":"David Southwell","startTime":1224.172,"endTime":1232.219,"body":"response rate. In other words"},{"speaker":"David Southwell","startTime":1224.172,"endTime":1232.219,"body":"the tumor goes down by more than"},{"speaker":"David Southwell","startTime":1232.349,"endTime":1240.396,"body":"30% in only 10 or 15% of cases."},{"speaker":"David Southwell","startTime":1232.349,"endTime":1240.396,"body":"What we've found preclinically"},{"speaker":"David Southwell","startTime":1240.526,"endTime":1248.833,"body":"is that if you take a cell line"},{"speaker":"David Southwell","startTime":1240.526,"endTime":1248.833,"body":"that doesn't work with our drug,"},{"speaker":"David Southwell","startTime":1248.963,"endTime":1256.361,"body":"so it's not particularly"},{"speaker":"David Southwell","startTime":1248.963,"endTime":1256.361,"body":"chromosomally unstable, you give"},{"speaker":"David Southwell","startTime":1256.491,"endTime":1264.408,"body":"our drug, nothing happens at"},{"speaker":"David Southwell","startTime":1256.491,"endTime":1264.408,"body":"all. You give a taxane, it has a"},{"speaker":"David Southwell","startTime":1257.201,"endTime":1261.261,"body":"And ADCs and taxanes have a"},{"speaker":"David Southwell","startTime":1257.201,"endTime":1261.261,"body":"safety profile that is not that"},{"speaker":"David Southwell","startTime":1261.329,"endTime":1265.665,"body":"good. ADCs can have vision loss"},{"speaker":"David Southwell","startTime":1261.329,"endTime":1265.665,"body":"and some other things, and what"},{"speaker":"David Southwell","startTime":1264.538,"endTime":1272.715,"body":"little bit of an effect, but if"},{"speaker":"David Southwell","startTime":1264.538,"endTime":1272.715,"body":"you give both of them, you have"},{"speaker":"David Southwell","startTime":1265.734,"endTime":1270.0,"body":"if you could lower the dose of"},{"speaker":"David Southwell","startTime":1265.734,"endTime":1270.0,"body":"taxanes or lower the dose of an"},{"speaker":"David Southwell","startTime":1270.069,"endTime":1273.923,"body":"ADC, and by adding our drug,"},{"speaker":"David Southwell","startTime":1270.069,"endTime":1273.923,"body":"which has a relatively much"},{"speaker":"David Southwell","startTime":1272.845,"endTime":1280.763,"body":"a synergistic effect, and it"},{"speaker":"David Southwell","startTime":1272.845,"endTime":1280.763,"body":"effectively flatlines the tumor."},{"speaker":"David Southwell","startTime":1273.991,"endTime":1277.707,"body":"cleaner safety profile, you"},{"speaker":"David Southwell","startTime":1273.991,"endTime":1277.707,"body":"could just create a better"},{"speaker":"David Southwell","startTime":1277.776,"endTime":1281.63,"body":"therapeutic index for the"},{"speaker":"David Southwell","startTime":1277.776,"endTime":1281.63,"body":"patient, So we really have two"},{"speaker":"David Southwell","startTime":1280.892,"endTime":1286.344,"body":"So we really have two"},{"speaker":"David Southwell","startTime":1280.892,"endTime":1286.344,"body":"approaches. One is a"},{"speaker":"David Southwell","startTime":1281.699,"endTime":1285.827,"body":"different approaches. One is a"},{"speaker":"David Southwell","startTime":1281.699,"endTime":1285.827,"body":"monotherapy approach, and the"},{"speaker":"David Southwell","startTime":1285.896,"endTime":1289.956,"body":"other is a combination approach."},{"speaker":"David Southwell","startTime":1285.896,"endTime":1289.956,"body":"We're starting combination"},{"speaker":"David Southwell","startTime":1286.474,"endTime":1294.651,"body":"biomarker-directed monotherapy"},{"speaker":"David Southwell","startTime":1286.474,"endTime":1294.651,"body":"approach, which would be used in"},{"speaker":"David Southwell","startTime":1290.025,"endTime":1294.498,"body":"studies in March. We're starting"},{"speaker":"David Southwell","startTime":1290.025,"endTime":1294.498,"body":"it with taxanes, but our plan is"},{"speaker":"David Southwell","startTime":1294.567,"endTime":1298.283,"body":"to really roll that out. So"},{"speaker":"David Southwell","startTime":1294.567,"endTime":1298.283,"body":"we'll be doing monotherapy"},{"speaker":"David Southwell","startTime":1294.78,"endTime":1302.828,"body":"third-line therapy in a lot of"},{"speaker":"David Southwell","startTime":1294.78,"endTime":1302.828,"body":"different cancers, and our plan"},{"speaker":"David Southwell","startTime":1298.352,"endTime":1302.618,"body":"studies, pan cancer, and we'll"},{"speaker":"David Southwell","startTime":1298.352,"endTime":1302.618,"body":"be doing combination studies to"},{"speaker":"David Southwell","startTime":1302.687,"endTime":1306.954,"body":"get us from third line therapy"},{"speaker":"David Southwell","startTime":1302.687,"endTime":1306.954,"body":"into first line therapy. Really"},{"speaker":"David Southwell","startTime":1302.958,"endTime":1309.707,"body":"is to do a pan-cancer study of"},{"speaker":"David Southwell","startTime":1302.958,"endTime":1309.707,"body":"that. And secondly, a"},{"speaker":"David Southwell","startTime":1307.022,"endTime":1311.083,"body":"hard to displace first line"},{"speaker":"David Southwell","startTime":1307.022,"endTime":1311.083,"body":"therapy, as you can imagine. If"},{"speaker":"David Southwell","startTime":1309.837,"endTime":1318.014,"body":"combination strategy where you"},{"speaker":"David Southwell","startTime":1309.837,"endTime":1318.014,"body":"would combine it with taxanes or"},{"speaker":"David Southwell","startTime":1311.151,"endTime":1315.418,"body":"you're an oncologist, someone"},{"speaker":"David Southwell","startTime":1311.151,"endTime":1315.418,"body":"comes along and says, \"Oh, we've"},{"speaker":"David Southwell","startTime":1315.487,"endTime":1319.684,"body":"got this great new drug. You"},{"speaker":"David Southwell","startTime":1315.487,"endTime":1319.684,"body":"know, we think you should use it"},{"speaker":"David Southwell","startTime":1318.144,"endTime":1325.412,"body":"ADCs. We've also been testing"},{"speaker":"David Southwell","startTime":1318.144,"endTime":1325.412,"body":"our drug against the toxic"},{"speaker":"David Southwell","startTime":1319.753,"endTime":1323.469,"body":"in first line therapy. The"},{"speaker":"David Southwell","startTime":1319.753,"endTime":1323.469,"body":"oncologist is going to say,"},{"speaker":"David Southwell","startTime":1323.538,"endTime":1327.598,"body":"\"Look, I've been using you know"},{"speaker":"David Southwell","startTime":1323.538,"endTime":1327.598,"body":"carboplatin and taxanes for"},{"speaker":"David Southwell","startTime":1325.542,"endTime":1330.345,"body":"warheads of many of the leading ADCs."},{"speaker":"David Southwell","startTime":1327.667,"endTime":1331.865,"body":"decades, and I've got very sick"},{"speaker":"David Southwell","startTime":1327.667,"endTime":1331.865,"body":"patients that are coming in.,"},{"speaker":"David Southwell","startTime":1331.933,"endTime":1335.925,"body":"there's no way you're going to"},{"speaker":"David Southwell","startTime":1331.933,"endTime":1335.925,"body":"replace that. But if we can"},{"speaker":"David Southwell","startTime":1335.994,"endTime":1339.778,"body":"offer them something they can"},{"speaker":"David Southwell","startTime":1335.994,"endTime":1339.778,"body":"add to it that's going to"},{"speaker":"David Southwell","startTime":1339.847,"endTime":1344.32,"body":"perhaps enable them to lower the"},{"speaker":"David Southwell","startTime":1339.847,"endTime":1344.32,"body":"dose or is going to increase the"},{"speaker":"David Southwell","startTime":1344.389,"endTime":1348.311,"body":"response rate of it, then"},{"speaker":"David Southwell","startTime":1344.389,"endTime":1348.311,"body":"they're much more open to that."},{"speaker":"David Southwell","startTime":1348.38,"endTime":1352.578,"body":"So that's kind of where we're"},{"speaker":"David Southwell","startTime":1348.38,"endTime":1352.578,"body":"going, and we're very busy with"},{"speaker":"David Southwell","startTime":1352.647,"endTime":1356.913,"body":"that. The two discovery assets"},{"speaker":"David Southwell","startTime":1352.647,"endTime":1356.913,"body":"we have are also chromosomally,"},{"speaker":"David Southwell","startTime":1356.982,"endTime":1360.973,"body":"they also target chromosomely"},{"speaker":"David Southwell","startTime":1356.982,"endTime":1360.973,"body":"unstable cancers, but it's a"},{"speaker":"David Southwell","startTime":1361.042,"endTime":1365.033,"body":"different target than KIF-18A."},{"speaker":"David Southwell","startTime":1361.042,"endTime":1365.033,"body":"We're really the leaders in"},{"speaker":"David Southwell","startTime":1365.102,"endTime":1369.094,"body":"research into chromosomal"},{"speaker":"David Southwell","startTime":1365.102,"endTime":1369.094,"body":"instability, and financing-wise,"},{"speaker":"David Southwell","startTime":1369.162,"endTime":1373.498,"body":"our goal is to do some licensing"},{"speaker":"David Southwell","startTime":1369.162,"endTime":1373.498,"body":"deals on the early preclinical"},{"speaker":"David Southwell","startTime":1373.566,"endTime":1377.902,"body":"assets and use that to fund, you"},{"speaker":"David Southwell","startTime":1373.566,"endTime":1377.902,"body":"know, the main event, which is"},{"speaker":"David Southwell","startTime":1377.971,"endTime":1379.141,"body":"our KIF-18A drug."},{"speaker":"David Southwell","startTime":1379.0,"endTime":1383.32,"body":"Unlike my previous company were"},{"speaker":"David Southwell","startTime":1379.0,"endTime":1383.32,"body":"not really an immunotherapy"},{"speaker":"David Southwell","startTime":1383.32,"endTime":1387.13,"body":"company, so one of the things"},{"speaker":"David Southwell","startTime":1383.32,"endTime":1387.13,"body":"that's interesting about our"},{"speaker":"David Southwell","startTime":1387.13,"endTime":1392.68,"body":"drug is it leaves normal cells"},{"speaker":"David Southwell","startTime":1387.13,"endTime":1392.68,"body":"alone, and we leave T cells"},{"speaker":"David Southwell","startTime":1392.68,"endTime":1397.0,"body":"alone. So immunotherapy for"},{"speaker":"David Southwell","startTime":1392.68,"endTime":1397.0,"body":"cancer almost universally"},{"speaker":"David Southwell","startTime":1397.0,"endTime":1402.235,"body":"involves T cells, CD4 and CD8 T"},{"speaker":"David Southwell","startTime":1397.0,"endTime":1402.235,"body":"cells, and you don't want to"},{"speaker":"David Southwell","startTime":1402.235,"endTime":1406.495,"body":"mess with those because that"},{"speaker":"David Southwell","startTime":1402.235,"endTime":1406.495,"body":"that is the body's natural"},{"speaker":"David Southwell","startTime":1406.495,"endTime":1411.175,"body":"immune response to to a foreign"},{"speaker":"David Southwell","startTime":1406.495,"endTime":1411.175,"body":"invader, otherwise known as a"},{"speaker":"David Southwell","startTime":1411.175,"endTime":1415.555,"body":"tumor. And there are different"},{"speaker":"David Southwell","startTime":1411.175,"endTime":1415.555,"body":"approaches to doing it. One is"},{"speaker":"David Southwell","startTime":1415.555,"endTime":1420.115,"body":"to overcome the checkpoints, you"},{"speaker":"David Southwell","startTime":1415.555,"endTime":1420.115,"body":"know, PD-1, PD-L1 inhibitors,"},{"speaker":"David Southwell","startTime":1420.115,"endTime":1425.41,"body":"for example. The difficulty with"},{"speaker":"David Southwell","startTime":1420.115,"endTime":1425.41,"body":"T cells is that oftentimes the T"},{"speaker":"David Southwell","startTime":1425.41,"endTime":1430.48,"body":"cells inside a tumor are"},{"speaker":"David Southwell","startTime":1425.41,"endTime":1430.48,"body":"exhausted, and which is why the"},{"speaker":"David Southwell","startTime":1430.48,"endTime":1433.6,"body":"response rate on some of the"},{"speaker":"David Southwell","startTime":1430.48,"endTime":1433.6,"body":"checkpoint inhibitors is not as"},{"speaker":"David Southwell","startTime":1433.6,"endTime":1436.33,"body":"much as you might like. So"},{"speaker":"David Southwell","startTime":1433.6,"endTime":1436.33,"body":"there's a whole different way of"},{"speaker":"David Southwell","startTime":1436.33,"endTime":1440.44,"body":"dealing with immunotherapy."},{"speaker":"David Southwell","startTime":1436.33,"endTime":1440.44,"body":"We're really different. We're a"},{"speaker":"David Southwell","startTime":1440.44,"endTime":1445.33,"body":"totally different mechanism of"},{"speaker":"David Southwell","startTime":1440.44,"endTime":1445.33,"body":"action that applies in hot"},{"speaker":"David Southwell","startTime":1445.33,"endTime":1449.395,"body":"tumors. You know, hot tumors"},{"speaker":"David Southwell","startTime":1445.33,"endTime":1449.395,"body":"being ones that are very prone"},{"speaker":"David Southwell","startTime":1449.395,"endTime":1454.555,"body":"to immunotherapy, cold tumors,"},{"speaker":"David Southwell","startTime":1449.395,"endTime":1454.555,"body":"and others. And there are some"},{"speaker":"David Southwell","startTime":1454.555,"endTime":1459.685,"body":"tumors that are not particularly"},{"speaker":"David Southwell","startTime":1454.555,"endTime":1459.685,"body":"chromosomally unstable, colon"},{"speaker":"David Southwell","startTime":1459.685,"endTime":1464.365,"body":"cancer being an example, but 80%"},{"speaker":"David Southwell","startTime":1459.685,"endTime":1464.365,"body":"of tumors are chromosomally"},{"speaker":"David Southwell","startTime":1464.365,"endTime":1468.595,"body":"unstable, so that creates a huge"},{"speaker":"David Southwell","startTime":1464.365,"endTime":1468.595,"body":"market for us. And the question"},{"speaker":"David Southwell","startTime":1468.595,"endTime":1472.72,"body":"from a business perspective is,"},{"speaker":"David Southwell","startTime":1468.595,"endTime":1472.72,"body":"where do we go? And we started"},{"speaker":"David Southwell","startTime":1472.72,"endTime":1478.03,"body":"in ovarian cancer, platinum"},{"speaker":"David Southwell","startTime":1472.72,"endTime":1478.03,"body":"resistant ovarian cancer, and"},{"speaker":"David Southwell","startTime":1478.03,"endTime":1481.81,"body":"our approach there is to sort of"},{"speaker":"David Southwell","startTime":1478.03,"endTime":1481.81,"body":"go after that, but now that"},{"speaker":"David Southwell","startTime":1481.81,"endTime":1486.07,"body":"we've discovered a biomarker,"},{"speaker":"David Southwell","startTime":1481.81,"endTime":1486.07,"body":"the goal is to look at, we've"},{"speaker":"David Southwell","startTime":1486.07,"endTime":1489.61,"body":"also figured out the prevalence"},{"speaker":"David Southwell","startTime":1486.07,"endTime":1489.61,"body":"of that biomarker. In other"},{"speaker":"David Southwell","startTime":1489.61,"endTime":1492.82,"body":"words, how many other cancers is"},{"speaker":"David Southwell","startTime":1489.61,"endTime":1492.82,"body":"it expressed in?"},{"speaker":"John Simboli","startTime":1492.9,"endTime":1496.56,"body":"When people, when"},{"speaker":"John Simboli","startTime":1492.9,"endTime":1496.56,"body":"knowledgeable folks like"},{"speaker":"John Simboli","startTime":1496.56,"endTime":1500.7,"body":"institutional investors hear you"},{"speaker":"John Simboli","startTime":1496.56,"endTime":1500.7,"body":"talk about the company, what do"},{"speaker":"John Simboli","startTime":1500.7,"endTime":1504.81,"body":"they understand correctly from"},{"speaker":"John Simboli","startTime":1500.7,"endTime":1504.81,"body":"your viewpoint? You know,"},{"speaker":"John Simboli","startTime":1504.81,"endTime":1507.36,"body":"accurately. What is the"},{"speaker":"John Simboli","startTime":1504.81,"endTime":1507.36,"body":"misunderstanding? Is there"},{"speaker":"John Simboli","startTime":1507.36,"endTime":1511.08,"body":"acommon misunderstanding? Then"},{"speaker":"John Simboli","startTime":1507.36,"endTime":1511.08,"body":"how do you get it back on track?"},{"speaker":"David Southwell","startTime":1511.0,"endTime":1515.05,"body":"Well, I think"},{"speaker":"David Southwell","startTime":1511.0,"endTime":1515.05,"body":"what we're doing is relatively"},{"speaker":"David Southwell","startTime":1511.0,"endTime":1588.025,"body":"straightforward"},{"speaker":"David Southwell","startTime":1511.0,"endTime":1588.025,"body":"get a particular point across,"},{"speaker":"David Southwell","startTime":1515.05,"endTime":1517.93,"body":"straightforward. It's"},{"speaker":"David Southwell","startTime":1515.05,"endTime":1517.93,"body":"straightforward to explain. We"},{"speaker":"David Southwell","startTime":1517.93,"endTime":1521.86,"body":"have a pill that treats cancer,"},{"speaker":"David Southwell","startTime":1517.93,"endTime":1521.86,"body":"and you know, I think they"},{"speaker":"David Southwell","startTime":1521.86,"endTime":1526.39,"body":"understand that. I think they're"},{"speaker":"David Southwell","startTime":1521.86,"endTime":1526.39,"body":"very excited about the biomarker"},{"speaker":"David Southwell","startTime":1526.39,"endTime":1532.0,"body":"approach. I find that in in the"},{"speaker":"David Southwell","startTime":1526.39,"endTime":1532.0,"body":"particular case of Volastra,"},{"speaker":"David Southwell","startTime":1532.0,"endTime":1536.965,"body":"they kind of understand it. When"},{"speaker":"David Southwell","startTime":1532.0,"endTime":1536.965,"body":"you're in cell therapy, it's"},{"speaker":"David Southwell","startTime":1536.965,"endTime":1540.775,"body":"much more difficult because it's"},{"speaker":"David Southwell","startTime":1536.965,"endTime":1540.775,"body":"very complicated. They ask you"},{"speaker":"David Southwell","startTime":1540.775,"endTime":1628.285,"body":"about manufacturing. You know,"},{"speaker":"David Southwell","startTime":1540.775,"endTime":1628.285,"body":"are you going to be able to"},{"speaker":"David Southwell","startTime":1575.26,"endTime":1652.27,"body":"it was something that completely"},{"speaker":"David Southwell","startTime":1575.26,"endTime":1652.27,"body":"changed the game for this"},{"speaker":"David Southwell","startTime":1588.025,"endTime":1593.665,"body":"and I think with us it's"},{"speaker":"David Southwell","startTime":1588.025,"endTime":1593.665,"body":"translating the combination data"},{"speaker":"David Southwell","startTime":1593.665,"endTime":1602.095,"body":"into human data."},{"speaker":"David Southwell","startTime":1628.375,"endTime":1637.345,"body":"manufacture it? What's it going"},{"speaker":"David Southwell","startTime":1628.375,"endTime":1637.345,"body":"to cost to manufacture it at"},{"speaker":"David Southwell","startTime":1652.27,"endTime":1656.38,"body":"company. So you know, that's a"},{"speaker":"David Southwell","startTime":1652.27,"endTime":1656.38,"body":"challenge. Luckily, it was good"},{"speaker":"David Southwell","startTime":1656.38,"endTime":1659.89,"body":"news. I mean, I've also had"},{"speaker":"David Southwell","startTime":1656.38,"endTime":1659.89,"body":"situations where you know you're"},{"speaker":"David Southwell","startTime":1659.89,"endTime":1662.59,"body":"heading out to J.P. Morgan, and"},{"speaker":"David Southwell","startTime":1659.89,"endTime":1662.59,"body":"all of a sudden you've got a"},{"speaker":"David Southwell","startTime":1662.59,"endTime":1666.91,"body":"patient that's got a problem, or"},{"speaker":"David Southwell","startTime":1662.59,"endTime":1666.91,"body":"you've got a clinical trial that"},{"speaker":"David Southwell","startTime":1666.91,"endTime":1671.17,"body":"has failed, and you're like,"},{"speaker":"David Southwell","startTime":1666.91,"endTime":1671.17,"body":"\"Whoa, do I just like get off"},{"speaker":"David Southwell","startTime":1671.17,"endTime":1672.67,"body":"the plane, or what do I do?\""},{"speaker":"John Simboli","startTime":1673.41,"endTime":1675.81,"body":"Is there anything"},{"speaker":"John Simboli","startTime":1673.41,"endTime":1675.81,"body":"in particular that you are eager"},{"speaker":"John Simboli","startTime":1676.02,"endTime":1679.47,"body":"to investigate that you'd like"},{"speaker":"John Simboli","startTime":1676.02,"endTime":1679.47,"body":"to talk about? I mean, I guess"},{"speaker":"John Simboli","startTime":1679.56,"endTime":1681.17,"body":"we're all talking about AI, but"},{"speaker":"David Southwell","startTime":1682.81,"endTime":1686.11,"body":"I think what's"},{"speaker":"David Southwell","startTime":1682.81,"endTime":1686.11,"body":"fascinating is what nobody talks"},{"speaker":"David Southwell","startTime":1686.11,"endTime":1689.35,"body":"about, or people don't tend to"},{"speaker":"David Southwell","startTime":1686.11,"endTime":1689.35,"body":"talk about in this business,"},{"speaker":"David Southwell","startTime":1689.35,"endTime":1692.53,"body":"which is the business element of"},{"speaker":"David Southwell","startTime":1689.35,"endTime":1692.53,"body":"what we're doing. At the end of"},{"speaker":"David Southwell","startTime":1692.53,"endTime":1696.97,"body":"the day, biotech companies tend"},{"speaker":"David Southwell","startTime":1692.53,"endTime":1696.97,"body":"to be science experiments that"},{"speaker":"David Southwell","startTime":1696.97,"endTime":1700.24,"body":"spend investors' money and then"},{"speaker":"David Southwell","startTime":1696.97,"endTime":1700.24,"body":"hope that they're going to get"},{"speaker":"David Southwell","startTime":1700.24,"endTime":1704.05,"body":"taken out by a pharma company,"},{"speaker":"David Southwell","startTime":1700.24,"endTime":1704.05,"body":"or maybe they turn profitable."},{"speaker":"David Southwell","startTime":1704.05,"endTime":1709.075,"body":"And the real question is, from a"},{"speaker":"David Southwell","startTime":1704.05,"endTime":1709.075,"body":"business perspective, other than"},{"speaker":"David Southwell","startTime":1709.075,"endTime":1713.095,"body":"the science, what is it that we"},{"speaker":"David Southwell","startTime":1709.075,"endTime":1713.095,"body":"all need to be thinking about"},{"speaker":"David Southwell","startTime":1713.095,"endTime":1717.655,"body":"that is going to bite us that"},{"speaker":"David Southwell","startTime":1713.095,"endTime":1717.655,"body":"we're not seeing? What is going"},{"speaker":"David Southwell","startTime":1717.655,"endTime":1720.175,"body":"back to the beginning of the"},{"speaker":"David Southwell","startTime":1717.655,"endTime":1720.175,"body":"conversation? What is the bullet"},{"speaker":"David Southwell","startTime":1720.175,"endTime":1724.225,"body":"that's going to hit us? And it"},{"speaker":"David Southwell","startTime":1720.175,"endTime":1724.225,"body":"may not be a science bullet. It"},{"speaker":"David Southwell","startTime":1724.225,"endTime":1727.285,"body":"may not be something that we"},{"speaker":"David Southwell","startTime":1724.225,"endTime":1727.285,"body":"think is a big issue. And"},{"speaker":"David Southwell","startTime":1727.285,"endTime":1730.57,"body":"starting off in a company, it's"},{"speaker":"David Southwell","startTime":1727.285,"endTime":1730.57,"body":"often about the science. But as"},{"speaker":"David Southwell","startTime":1730.57,"endTime":1735.25,"body":"you grow, it becomes more about"},{"speaker":"David Southwell","startTime":1730.57,"endTime":1735.25,"body":"the business. And we are a"},{"speaker":"David Southwell","startTime":1735.25,"endTime":1738.91,"body":"business, and pharma companies"},{"speaker":"David Southwell","startTime":1735.25,"endTime":1738.91,"body":"trade on a multiple of earnings,"},{"speaker":"David Southwell","startTime":1738.91,"endTime":1742.63,"body":"so they don't want to do a lot"},{"speaker":"David Southwell","startTime":1738.91,"endTime":1742.63,"body":"of early stage research. They"},{"speaker":"David Southwell","startTime":1742.63,"endTime":1746.83,"body":"want to buy a product with low"},{"speaker":"David Southwell","startTime":1742.63,"endTime":1746.83,"body":"risk and market it using their"},{"speaker":"David Southwell","startTime":1746.83,"endTime":1748.6,"body":"extensive sales force."},{"speaker":"David Southwell","startTime":1748.6,"endTime":1753.91,"body":"We're developing drugs. How do"},{"speaker":"David Southwell","startTime":1748.6,"endTime":1753.91,"body":"you kind of blend those two? And"},{"speaker":"David Southwell","startTime":1753.91,"endTime":1756.94,"body":"we did that a little bit at"},{"speaker":"David Southwell","startTime":1753.91,"endTime":1756.94,"body":"Sepracor because we had products"},{"speaker":"David Southwell","startTime":1756.94,"endTime":1760.9,"body":"on the market, but it's a very"},{"speaker":"David Southwell","startTime":1756.94,"endTime":1760.9,"body":"very difficult challenge to go"},{"speaker":"David Southwell","startTime":1760.9,"endTime":1763.72,"body":"from being a science company to"},{"speaker":"David Southwell","startTime":1760.9,"endTime":1763.72,"body":"being a commercial company. It"},{"speaker":"David Southwell","startTime":1763.72,"endTime":1767.23,"body":"requires a completely different"},{"speaker":"David Southwell","startTime":1763.72,"endTime":1767.23,"body":"set of skills, and it would be"},{"speaker":"David Southwell","startTime":1767.23,"endTime":1770.5,"body":"really interesting to talk to"},{"speaker":"David Southwell","startTime":1767.23,"endTime":1770.5,"body":"more people that have done it."},{"speaker":"David Southwell","startTime":1770.5,"endTime":1773.545,"body":"You know, I'm thinking of John"},{"speaker":"David Southwell","startTime":1770.5,"endTime":1773.545,"body":"Maragonori as the you know"},{"speaker":"David Southwell","startTime":1773.545,"endTime":1777.805,"body":"perfect example of that at"},{"speaker":"David Southwell","startTime":1773.545,"endTime":1777.805,"body":"Alnylam, but also Alexion. I"},{"speaker":"David Southwell","startTime":1777.805,"endTime":1780.655,"body":"mean, same thing. There aren't"},{"speaker":"David Southwell","startTime":1777.805,"endTime":1780.655,"body":"that many people that have done"},{"speaker":"David Southwell","startTime":1780.655,"endTime":1780.865,"body":"it."},{"speaker":"John Simboli","startTime":1781.39,"endTime":1783.12,"body":"Thanks for"},{"speaker":"John Simboli","startTime":1781.39,"endTime":1783.12,"body":"speaking with me today, David."},{"speaker":"David Southwell","startTime":1783.69,"endTime":1785.91,"body":"I really"},{"speaker":"David Southwell","startTime":1783.69,"endTime":1785.91,"body":"appreciate it. This was a very"},{"speaker":"David Southwell","startTime":1786.24,"endTime":1787.41,"body":"enjoyable conversation."},{"speaker":"John Simboli","startTime":1788.39,"endTime":1791.12,"body":"Speaking with"},{"speaker":"John Simboli","startTime":1788.39,"endTime":1791.12,"body":"David Southwell about leadership"},{"speaker":"John Simboli","startTime":1791.12,"endTime":1795.62,"body":"in biopharma was notable for his"},{"speaker":"John Simboli","startTime":1791.12,"endTime":1795.62,"body":"plain language and appreciation"},{"speaker":"John Simboli","startTime":1795.62,"endTime":1800.09,"body":"of both challenges and"},{"speaker":"John Simboli","startTime":1795.62,"endTime":1800.09,"body":"opportunities. As David said,"},{"speaker":"John Simboli","startTime":1800.09,"endTime":1803.99,"body":"with a good-natured chuckle,"},{"speaker":"John Simboli","startTime":1800.09,"endTime":1803.99,"body":"\"Any biotech who honestly says"},{"speaker":"John Simboli","startTime":1803.99,"endTime":1809.09,"body":"they sleep well at night is"},{"speaker":"John Simboli","startTime":1803.99,"endTime":1809.09,"body":"probably naive.\" My guess is"},{"speaker":"John Simboli","startTime":1809.09,"endTime":1812.645,"body":"that part of David's"},{"speaker":"John Simboli","startTime":1809.09,"endTime":1812.645,"body":"eyes-wide-open view comes from"},{"speaker":"John Simboli","startTime":1812.645,"endTime":1817.025,"body":"his experience in capital"},{"speaker":"John Simboli","startTime":1812.645,"endTime":1817.025,"body":"markets. He's seen firsthand how"},{"speaker":"John Simboli","startTime":1817.025,"endTime":1820.295,"body":"challenging it can be to marry"},{"speaker":"John Simboli","startTime":1817.025,"endTime":1820.295,"body":"scientific innovation with"},{"speaker":"John Simboli","startTime":1820.295,"endTime":1824.465,"body":"business acumen, in a setting"},{"speaker":"John Simboli","startTime":1820.295,"endTime":1824.465,"body":"where uncertainty is the coin of"},{"speaker":"John Simboli","startTime":1824.465,"endTime":1829.895,"body":"the realm. In David's words,"},{"speaker":"John Simboli","startTime":1824.465,"endTime":1829.895,"body":"science happens. David said the"},{"speaker":"John Simboli","startTime":1829.895,"endTime":1832.775,"body":"best way to deal with"},{"speaker":"John Simboli","startTime":1829.895,"endTime":1832.775,"body":"uncertainty is to be transparent"},{"speaker":"John Simboli","startTime":1832.775,"endTime":1835.88,"body":"about the risks. He added, to"},{"speaker":"John Simboli","startTime":1832.775,"endTime":1835.88,"body":"the extent that you're"},{"speaker":"John Simboli","startTime":1835.88,"endTime":1840.38,"body":"relatively humble and"},{"speaker":"John Simboli","startTime":1835.88,"endTime":1840.38,"body":"transparent, it helps. While"},{"speaker":"John Simboli","startTime":1840.38,"endTime":1844.34,"body":"transparency is a big help,"},{"speaker":"John Simboli","startTime":1840.38,"endTime":1844.34,"body":"successful leadership requires"},{"speaker":"John Simboli","startTime":1844.34,"endTime":1848.33,"body":"making good decisions. In"},{"speaker":"John Simboli","startTime":1844.34,"endTime":1848.33,"body":"David's words, \"You better be"},{"speaker":"John Simboli","startTime":1848.33,"endTime":1851.75,"body":"right. You better be operating"},{"speaker":"John Simboli","startTime":1848.33,"endTime":1851.75,"body":"in a way that will keep your"},{"speaker":"John Simboli","startTime":1851.75,"endTime":1855.5,"body":"employees and keep a culture,"},{"speaker":"John Simboli","startTime":1851.75,"endTime":1855.5,"body":"and keep the plates spinning."},{"speaker":"John Simboli","startTime":1856.73,"endTime":1864.635,"body":"I'm John Simboli. You're"},{"speaker":"John Simboli","startTime":1856.73,"endTime":1864.635,"body":"listening to BioBoss."},{"speaker":"John Simboli","startTime":1864.635,"endTime":1868.895,"body":"BioBoss is brought to you by"},{"speaker":"John Simboli","startTime":1864.635,"endTime":1868.895,"body":"Wyant Simboli, a strategic"},{"speaker":"John Simboli","startTime":1868.895,"endTime":1873.425,"body":"branding firm focused on helping"},{"speaker":"John Simboli","startTime":1868.895,"endTime":1873.425,"body":"life sciences companies advance."},{"speaker":"John Simboli","startTime":1873.425,"endTime":1876.935,"body":"We partner with companies to"},{"speaker":"John Simboli","startTime":1873.425,"endTime":1876.935,"body":"define their story, structure"},{"speaker":"John Simboli","startTime":1876.935,"endTime":1882.41,"body":"their brand, and inspire their"},{"speaker":"John Simboli","startTime":1876.935,"endTime":1882.41,"body":"audience. Visit wyantsimboli.com"},{"speaker":"John Simboli","startTime":1882.41,"endTime":1883.76,"body":"for more information."}]}