BOARD DIRECTOR, NON-EXECUTIVE DIRECTOR
A Nasdaq-listed, clinical-stage biotechnology company developing therapeutics for age-related diseases, headquartered in Massachusetts.
The company was approaching the end of a Phase IIb study and there was a need to appoint a new board director who would bring a deep experience in drug development, from early-mid stage clinical development through to late-stage clinical and life-cycle management experience. The search needed to be carried out discretely and with forethought as to the target population of candidates.
The Search Approach:
Performed a thorough company assessment, liaising with members of the nominations committee and the wider board.
Clearly defined the desired profile of the board director to be appointed based on critical experience analysis, and by assessing the drug development experience of the current board members.
Built a clear targeting strategy for the search that encompassed experience, disease and modality experience, location, capacity to serve and other factors.
Developed a structured assessment methodology which evaluated the appropriate competencies for the board position and enabled a consistent evaluation across all candidates.
Selected candidates for their experience in multiple facets of the life sciences industry, research and academic institutions, through to regulatory bodies, as well as biotech and pharmaceutical companies.
Devised a balanced and well-positioned target list of candidates, which comprised 40% women candidates. Due to the sensitive aspect of the search, this target list was first presented to the nominations committee for review.
Engaged with selected candidates in an orderly manner and assessed their capabilities and suitability to serve on the board.
Delivered a long list of 12 candidates (42% of women) which, after evaluation, led to the short-list of four (two women and two men).
Liftstream delivered a high-quality shortlist of four candidates, which was balanced in terms of gender, and diverse in respect of ethnicity. All shortlisted candidates were serving on boards of public companies. The candidate nominated to the board was chosen for his incredible accomplishments in developing drugs in common diseases with significant impact on human health, as well as rare diseases and his deep understanding of the disease areas the company is working in.