Performance Abstract.

Jay Malone: Liberty BioSecurity

Liberty BioSecurity is a life sciences start-up specializing in the development of breakthrough clinical stage pharmaceuticals and biological-based capabilities for healthcare, industry and government.

The Challenge

Liberty BioSecurity was a founder-funded, start-up biotechnology company that developed biologics with solid commercial use potential. The company lacked the business acumen to prioritize biologic development based on revenue potential and required additional funding to get the biologics market ready.

My Role

Director of Business Operations

I was accountable for the market research, analysis, business operations, AR&D prioritization, capital raise, full financials, budgeting, and defining job descriptions within each department. I served as the conduit between the scientists (AR&D) and business operations, working to create superior products and determine market viability. Due to my expertise, I was asked to build the entire business division and then led the process to develop a capital raise structure and strategy. 

 



The Work
  • Executed in-depth, scientific market research on the capabilities of the most adaptive biologics, then worked with the scientific team to confirm research veracity, commercial viability and capabilities of each biologic. Collaborated with the head of AR&D to prioritize biologic development based on my research. Determined the greatest total addressable market (TAM) and annual recurring revenue (ARR), then generated a business business model based on my research, including identifying potential partnerships across a variety of industries. 
  • Developed and led the business operations department. Created the financial models including budget, revenue, discounted cash flow (DCF), and comparable company analysis on specific projects that could be split into 4-5 uses and products. Executed full financials, budgeting, and budget schedule. Developed the hiring process and job descriptions for both business and scientific departments.
  • Developed and implemented the capital raise structure and strategy. Weighted the average cost of capital and built the framework for capital raising and managing the business. Created overall evaluation modeling and revenue projection for the company and built a defendable case and capital call structure that was the basis for the investor deck. Determined the ideal targets and pitched financials to investors. 
The Outcome

Developing a product in any novel biology program involves a complicated and lengthy process that can take years of AR&D, scientific testing and government trials before a product is approved and ready for market. My work in business operations, specifically, projecting revenues and TAM, provided viable value propositions for products in the pipeline, allowed Liberty BioSecurity to prioritize biologic development opportunities with a clear go-to-market strategy in place. The business capital raise structure I created helped secure a term sheet and development partnerships.

When starting a business, problem-solving is critical, but when you are growing a business, you must also be a problem finder. Creating a market-relevant value proposition requires awareness not only of your TAM but the macro trends as well. By creating a neurodiverse team, you can achieve more remarkable results. Don't let echo chambers reduce your company's valuation.

––Director of Business Operations