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The Insiders: The walking dead
After no sleep on the red-eye and a quick shower to freshen up, I had six meetings that pretty much had me hoppin' around the conference center straight up to 5 o'clock, when I rendezvoused with my business development team and headed to the BiogenIdec cocktail reception.
Over cocktails, the bus dev team filled me in on their seven meetings, some of which hold real promise to either help us achieve our screening revenue goals for this year or turn into more valuable collaborations. The kick I got out of the bus dev team's enthusiasm gave me the adrenaline rush I needed to shake the sleepiness that was gripping me and drive on through an hour or so of networking (bus dev execs from BiogenIdec, MedImmune, BMS, biotech colleagues and venture folks) followed by dinner with members of my Board and SAB.
When I finally got back to the hotel room at midnight, sleep came quickly... Then up at 6:30 for a quick workout before what I expected (at least according to the calendar!) to be a light day of four meetings and a panel discussion, followed by more receptions.
So much for expectations!!!
Between lengthy phone calls back to the office (hey, still got a business back in San Diego to run!), last-minute preparations for a Board meeting on Wednesday, running into "must-talk-to" people and staying on the existing meeting schedule, I barely had 15 minutes to eat at the food court (lesson learned: at a crowded food court, there's no such thing as line arbitrage... A short line means bad food!).
I did, however, have and hour in the afternoon to walk the convention floor. Amazing! I don't consider myself old, but I do remember a time when the booths at BIO's annual meeting were much, much less impressive and numerous!! Most amazing thing: Innovive's disposable animal caging systems. Best treat: Canada had a Tim Horton's serving up hot coffee and great donuts!!
Panel was fun. A way for some of us to share our experiences raising VC money to fund startups and perhaps help a new generation of entrepreneurs avoid the mistakes we made!!!!
Then on to two great receptions close by and on the water: Cooley Godward Kronish's and the swanky Novartis/MPM/Atlas reception at the Contemporary Art Museum. Again lots of networking with VCs, pharma folks and biotech colleagues. There's no other event on the annual biotech calendar that is as valuable from a schmoozing standpoint. JPMorgan in January is a distant second...
I invited a couple partners from Cooley, a few fellow CEOs, a banker, and a pharma bus dev exec to dinner. While waiting for cabs, the group grows to 12, and we ultimately descend on the restaurant with a force of 20. Great time. Who knew that Ron Cohen, Acorda's CEO, was such a crooner? Backed up quite ably by Ken Moch, former CEO now banker, Cohen serenaded the table with show tunes and doo-wop.
On to bed... Almost 1 a.m!! And worse yet, I have a 4:45 a.m. wakeup call to catch the 7:00 shuttle to LaGuardia for a 10:00 due diligence meeting.
Next year in San Diego, I vow to sleep more during BIO. We'll see....
-- Scott Salka, CEO, Ambit Biosciences
