
This is software (AWS) generated transcription and it is not perfect.
Wow. So, uh, very early on in my career, I started as a senior scientist right after my post start and joined a small company here in Salt Lake City. And very quickly I came to the realization that I was not only reasonably okay or good as a scientist, but I was quite effective as a communicator. Both written as well as speaking. And that led to my writing grant applications Those grant applications led to by forming a division for a company that I used to work for.Yeah. So what I was saying is I found I was very effective at communication. One thing led to another, and I found myself starting a major division for the company, which led to my forming a joint venture with a Fortune 500 company, which I ran for almost 10 years before we sold that joint venture two Rolls Royce, England. And that then set me off on an entrepreneurial path. So I from that I started an automated company, which is, ah, public company, that I started a second company also in medical devices that I sold to an industry buyer. And now I'm running another company. So that's why that's my career path.I think the most important thing is the realization that to be effective as a leader, not only do you have to have domain experience, which means, let's say, if you're in software, be a good software to order or if you're in biotech, be a very good bio technician or a biotech scientist, or what have you but communication the ability to speak toe, communicate your ideas, to be able to show that here is the vision that when does this successful, this will solve such and such problems. That is very important. So that was a big ah ha moment For me. It's not just good enough to be a good engineer, but to be able to communicate what your skill can do to solve an unmet need, that's key.
So, uh, when you're CEO, especially if in early stage company. So this is a pretty revenue company. We are about a quarter away from applying for a clinical study to be done under the FDA guidelines. So you're pre revenue. It's important for us to do the most important job definition of the CEO in a pre revenue company is only one. Make sure the company does not run out of money. That's the most important job definition. Everything else is unimportant, so I so I have to do all the things required. The science, the regulatory piece, the quality and manufacturing piece, investor communication, etcetera. All of that. But the most important. Make sure the company has the money to do what you want to do. As simple as that, everything else is unimportant.so before covered Ah, I would travel Oh, baby, once or twice a month to meet with surgeons or to meet with industry partners and so on and so forth. Now we don't travel, obviously because of govern. But working hours are fun, but long they could be. You know, you have the flexibility off working 10 hours a week if you want to. If you can, or you can work 100 hours a week, you should dock shy away from hard work. That's important, Andi. The reason it becomes easy is it's a lot of fun. So you don't think of it as Oh, I gotta go toe work. No, you get up in the morning. You say, Ah, what can we do today? That's the attitude.
challenges for a company like in my feel, life sciences or health care. When you're pre revenue, it's because you're breaking new ground by launching products that have not been developed before. They solve some important problems that current problems or current products don't solve. But to do this legally, you have to deal with FDA. And FDA is a very careful, very deliberative Uh, almost you could say bureaucratic a piece of the American government. It's an important piece, but you have to deal with it. So there is one thing that keeps me awake at night. It is, How do you deal effectively with the FDA? How do you negotiate with the FDA? That's the biggest challenge. And you have to be both strategic is how you approach it. That means you have to have a plan that, uh, relieves ah, lot of the concerns that the FDA regulators have, And you have to have that dates that buttress all your strategy and all your arguments that you present do the FDA with riel data. So that is in my field. That's one of the most important aspect. How do you negotiate with the FDA so that the path from development toe commercial product into patients is efficient is meaningful for investors also, to have the patients, as well as to have the reward at the end to make money. That's a fine balance. If you make a mistake interest. You can be strong along for years by having the FDA keep on asking questions, going back to the drawing board to answer them. Ask more questions if you're not strategic if you're not careful. So that is one of the most important things we deal with in life science or health care companies.