Do you want to use your scientific knowledge and interest in business to help commercialise new discoveries? Well, you really should have come to our Biology and Business event on Monday night, shouldn’t you? Don’t worry though, if you couldn’t make it along, we’ve collected together the key take-home points below.
Who were the speakers?
Matt Aldridge, a trainee patent attorney at Kilburn & Strode LLP, where he works at the interface between science and law. Matt has a biochemistry degree from UCL, and an MSc in cellular therapy from bench to market from KCL. Matt spent a year working in a lab-based role before moving into patent law.
John Cassidy, an investment associate at Arix Bioscience, a Biotech-focused venture capital group based in London and New York. John has a neuroscience PhD from UCL, and experience in life science consulting.
Mikhaila Chowdhury, a brand manager at GSK consumer healthcare, where she focuses on digital marketing across oral care and wellness products. Mikhaila has a clinical background in dentistry, completing vocational training at UCL’s Eastman dental institute. After leaving dentistry, she studied a masters in international health management at Imperial, then went through the Future Leaders Program at GSK.
Ismael Gauci, a senior consultant at Deloitte, where he helps clients solve problems across R&D and clinical operations. Ismael has a PhD in cardiovascular science, and before joining Deloitte, he worked at Deallus, a smaller life-science-focused consultancy.
Rachel Greig, a medical science liaison at Incyte, a biotech company, where she focuses on the clinical development of treatments in haematology and oncology. Rachel has a PhD in immunology, and experience in policy work in the charity sector, and in public affairs at the pharmaceutical company Lilly.
And Ella Nuttall, a manager in KPMG’s healthcare and life sciences division. Ella took up an internship at the Wellcome Trust during her Psychology undergraduate, then after completing her MSc in health psychology at UCL, she worked as a health psychology specialist for Lucid, a medical communications agency, before joining KPMG.
What do people like about combining life science with business?
The panel all agreed that the best things include working at the cutting-edge of science, and having access to people who are leaders in their field. For instance, Ella mentioned recent trips she’d taken across the world – notably to Japan – to speak with scientific experts to inform her consultancy.
Some pros were particular to certain sectors. Matt enjoys playing with language and arguing a point, and his role in trying to prove a new invention is original allows him to do that. Mikhaila enjoys the creativity involved in her marketing role. Rachel enjoys the variety that her role brings, as she finds herself visiting different hospitals and interacting with different experts each day. And Ismael and Ella both enjoy the problem solving aspect of consultancy.
Panellists also spoke about the added dimension of having to think commercially, not only scientifically, as appealing to them. Mikhaila and Rachel see the movement between roles and divisions that is possible within large pharmaceutical companies as a benefit – once you get in, you can try new things.
What are the downsides?
The downsides varied depending on the role. The working hours were mentioned as a potential downside of consultancy by Ismael and Ella, and John also commented on this from his past consultancy experience. Ella emphasised that considering what work-life balance means to you is important, but she and Ismael both enjoy the exciting projects they work on, which keep them engaged during potentially long hours.
Something John misses from consultancy is the teamwork and the structured development. Venture capital involves a lot more independence and lone working, and individuals must take more responsibility for their own development, which can be a challenge.
As a Medical Science Liaison, Rachel enjoys her frequent travel to different hospitals, however, she is London based, and so her travel is often simply a normal London commute. She noted that colleagues based outside of London who cover wide territories may spend hours in the car to visit hospital sites, which suits some people, but not everyone.
Matt is early in his training as patent lawyer, but he mentioned encountering more resistance to patent applications than he expected. When you’ve argued a case and it gets rejected, that’s a low point of the role.
Will my PhD help me get in?
Three of our speakers had a PhD, and one speaker was a qualified dentist. So if you have a PhD or MD in the life science industry, clearly you won’t be the odd one out.
The general consensus from the panel was it’s not worth doing a PhD just to get into the Life Science industry. But if you already have one, PhDs were mentioned as advantageous in patent law and biotech venture capital especially, to the point where some organisations may demand them. John certainly thought that many employers who understand what a PhD involves will appreciate the transferable skills PhD graduates bring to roles.
Should I get a business qualification?
The panel agreed that if you want to take a business qualification for your own benefit – so you can decide if you enjoy business, or so you can feel more confident in interviews – then go for it. Matt enjoyed his science and business MSc, which he applied for through genuine interest. However, the panel all felt that most employers think it’s easier to teach a scientist the principles of business than the other way around, and so your science knowledge and experience is likely to be more valuable than a business qualification.
So what can I do to enhance my chances of getting in?
- Accept that confusion and rejection are normal, and keep trying. Every speaker shared stories of being confused about what direction to take, and then of being rejected once they’d decided on a direction. These are completely normal parts of everyone’s careers, and the panel encouraged everyone to keep ploughing onwards.
- Sometimes you need to take a job you don’t want to get to the job you do want. Sometimes rejection indicates there’s a gap in your experience that needs to be filled. So just as Matt worked for a year in a lab to gain hands-on science experience so he could get into patent law, and just as Rachel worked in public affairs to gain pharma experience so she could transition into a medical science liaison role, sometimes you may have to take a role you don’t particularly want in the short term, so that you can achieve your longer term goals. John too mentioned that it wouldn’t generally be possible to enter venture capital directly from science, as some prior business experience – perhaps in consultancy – would also be expected. And Ella mentioned that if you find it hard to get into larger consultancies, or if you don’t want to enter at the graduate level, gaining other work experience first – like her experience in a medical communications company, and Ismael’s experience at a smaller consultancy – will help.
- Get networking! Our speakers provided examples of just how crucial networking can be, as Ella found her first post-MSc job through speaking to an academic, and Rachel found her way into pharma through a contact she met at a conference. So attend relevant events, chat to people, and reach out to professionals on LinkedIn.
Check out the other events forming part of Careers in the Life Science Industry Week here.