The Vice President of Business Development is a highly collaborative, influential, and experienced senior leader responsible for creating inorganic growth opportunities which significantly accelerate Genomic Health's growth and profitability and help fulfill the company's vision to transform the quality of treatment decisions for patients along their entire cancer journey.
As a key member of the Business and Product Development senior management team, this position achieves these goals by developing and implementing the company's global business development strategy. This includes M&A, in-licensing, and partnering as well as business development activities aimed at supporting the growth of Genomic Health's existing product portfolio. This executive is also responsible for developing and implementing a world-class business development capability supported by clear and effective processes and plans.
This leader is responsible for the ongoing recruitment and development of a small BD staff as well as leading an extended multi-functional team and occasional contractors to ensure the company has the talent and capabilities to support and achieve its key strategic goals.
The Vice President of Business Development reports to and works closely with the Chief Business and Product Development Officer and interacts with a broad range of Genomic Health functions and senior executives.
- Work closely with the Product Lifecycle Management organization to implement and execute the Business Development (BD) strategy which supports the overall growth and profitability goals of Genomic Health.
- Provide expertise and input into the product and services portfolio strategic planning process as needed.
- Lead all key Business Development tactical activities including
- Complete and maintain a landscape of M&A, in-licensing, and partnership opportunities aligned with Genomic Health's products and services growth strategy and identify key actionable targets.
- Create growth opportunities by proactively engaging potential targets and leveraging industry, academic and investment banking networks.
- Lead all phases of the deal process from initial engagement to cross-functional diligence, valuation, term sheet negotiation, integration planning, LOI, deal closing, and executive reporting.
- Continue to shepherd deals post-close including leading post-close performance and integration reviews.
- Promptly evaluate, triage, and document all incoming M&A or licensing opportunities.
- Initiate and oversee collaboration and in-licensing engagements with academic and industrial partners.
- Support negotiation and contracting efforts with industry partners and vendors in collaboration with other functions as needed
- Develop and implement Pharma partnerships to create new revenue generating opportunities for Genomic Health existing products and services
- Develop and implement a world-class Business Development capability with clear and effective processes and communication mechanisms including
- Define, document, and provide training to identify, select, prioritize and assess key opportunities and execute the deal process.
- Lead cross-functional teams to complete specific activities such as diligence and integration planning.
- Lead regular execution and communication forums mechanisms such as monthly executive BD reviews and monthly deal tracking and assessments.
- Document all BD activities including presentations and memos to CEO staff and board of directors.
- In collaboration with the Business & Product Development senior staff, provide the leadership necessary to develop an innovation environment while managing priorities, resources, decision clarity, and business development processes to achieve GHI goals and objectives.
- Hire, develop, and mentor employees through alignment of objectives, coaching, providing challenging assignments, and ongoing feedback of progress on objectives and projects.
- Establish and maintain strong relationships with Genomic Health leaders in multiple functions.
- Manage the Business Development Annual Operating Plan.
- Other responsibilities as assigned.
- MBA with BS in a technical or scientific field. MBA with MS or PhD in a technical or scientific field preferred.
- Demonstrated success in business/product development senior executive roles in mid-to-large public companies with global operations.
- The preferred candidate will have 20+ years of experience in the life sciences, diagnostics, or pharma industry. Both U.S. public company and global business experience are required.
- Proven experience leading a business development organization including translating overall company goals into an executable business development strategy and identifying appropriate targets.
- A creative deal maker with a proven experience negotiating and executing a broad range of deals. Specific experience requirements include:
- Experience with M&A transactions from deal initiation and analysis to integration planning and close.
- Experience with structuring and negotiating in-licensing and partnership deals in life sciences, diagnostics, or Pharma as well as partnerships with companies or academic institutions.
- Demonstrated strong quantitative and modeling skills and experience
- Demonstrated strong negotiation skills
- Experience working with investment bankers and consultants
- Ability to draft, review, and interpret terms sheets for business development deals of all kinds
- Experience with product development processes is preferred.
- Direct experience in leading global, cross-functional projects.
- Demonstrated strong communication skills, including written communications, presentations, rapport building, and influencing skills.
- Excellent senior team leadership and collaboration skills with internal and external clients and stakeholders.
- Demonstrated ability to hire, develop, and manage employees
- Adept at change leadership and management with the ability to diagnose problems, articulate a plan, and implement solutions.
- Able to prioritize and drive to results with a high emphasis on quality
- Familiarity and understanding of FDA Regulations and knowledge of U.S. and global compliance laws and regulations.
- Some operations experience is preferred.
- Bias to action and perseverance to follow through – ability to self-motivate to successfully develop and execute action plans.
- Strong attention to detail and exacting work standards.
- Unquestionably high ethical standards and attention to reputation and compliance risks.
- Ability to think critically and in tactical and strategic dimensions simultaneously.
- Ability to prioritize tasks in real time and exercise judgment in high-paced, high-stakes environment.
- Strong team orientation: Team-first mentality and demonstrated ability to lead cross-functional efforts, effectively leading others to deliver.
- Ability to quickly establish credibility, trust and support within all levels of the organization (i.e. peers, subordinates and senior management).
- A strong influential leader and great communicator able to work with all levels of the organization
- As a leader in the company, he/she will build community through connecting people to our mission and vision, and invest in building relationships and trust in the organization.
- This individual will provide clarity for decision-making and role-model integrity and objectivity. He/she will share and welcome ideas and challenge the status quo.
- This leader will illustrate personal and organizational accountability through effective goal setting and follow-through.
- Able to integrate and apply feedback in a professional manner
TRAVEL, PHYSICAL DEMANDS AND WORK ENVIRONMENT:
- Travel Requirements: 30+% travel; visiting with key external stakeholders and attending industry meetings.
- Standing or sitting for long periods of time may be necessary in general office environment