ScIENcE AND TEchNOLOGY
“There’s no question a successful deal requires a certain level of trust. It seems to me that the people who we spoke with are really are looking to push the frontiers of their areas forward.” — Dr. Mark Poznansky
opportunities to speak with their Japanese counterparts. The RIKEN Institute, like A*STAR in Singapore, took great interest in the work of Dr. Kennedy and OGI. “On this front, the tangible results are that we made contact with a number of people who are interested in what we’re doing,” says Poznansky adding he can already see what the next steps are. “Firstly, they’re pooling populations of patients with schizophrenia and depression, and seeing how they’re being treated in Tokyo and comparing that to how they’re being treated in the Toronto area. They are also comparing the genetic tests that are being done, to see how the drugs are metabolized and how individual patients are going to react or not react. They are very interested in the company AssureRx Canada, its parent company Assurex Health and also CAMH. We have a very strong sense from the RIKEN Institute right on down from leadership that they want to do business,” says Poznansky. For Hofstein, the trip to Japan included a visit to the BioJapan Conference where he met with local pharma companies. “It’s an event that’s a lot like the BIO Convention in North America and has similar features, sizeable exhibits, lectures and of course, most importantly, biopartnering. I tried to take full advantage of the partnering opportunities; even before going, we suggested to the Canadian embassy to arrange meetings for us with key leaders in Japanese pharma.” The embassy successfully arranged meetings with several companies, including Astellas Pharma, Shionogi and Mitsubishi Pharma, among others. “Those meetings were quite successful,” says Hofstein. “I discovered that Japanese big pharma, like their North American counterparts, are looking to biotech more and more to fulfill their R&D activities. They are late-comers in that respect, so the timing of our visit couldn’t be better.” Hofstein adds that if he were to map the interests of Japanese pharma across the subsectors of medicine, everything they are looking for is available in Canada. “The research they need to replenish their pipeline is all happening in Canada, whether it’s oncology research, autoimmune disease research, neurodegenerative disease research, personalized medicine, etc. It’s just a matter of how we are able to package, present and tailor it to their specific requirements.” In terms of how MI can work with these pharma companies, Hofstein already has plans to start sending them technologies for them to review as a prelude for business discussions. Another key area that Hofstein stressed during his meetings with Japan was the idea that Ontario and Canada could be an ideal destination for clinical development.“We have organizations such as Clinical Trials Ontario, Centre for the Commercialization of Re-
16 BIOTECHNOLOGY FOCUS December 2013/January 2014
generative Medicine (CCRM), MI and others, and if we combine that into one big stronghold, we have the capabilities of cost effective clinical development.” Overall, while both Poznansky and Hofstein were impressed with what they saw through this trade mission, they feel it’s only a first step. Success in convincing Japanese and Singapore interests to work with Ontario’s life science community hinges on building relationships and trust. “There’s no question a successful deal requires a certain level of trust. It seems to me that the people who we spoke with are really are looking to push the frontiers of their areas forward. We need to reach their top science and business people, tell them about our challenges are in terms of getting to the market, learn about their challenges, and develop the kind of relationship where you can discuss common problems. After that, it’s possible to think about common solutions and then about where the money will come from,” says Poznansky. “It’s important that we not try to impose what we believe to be the right way to go,” says Hofstein. “On the contrary, we need to take the listener’s stance. The key to success is flexibility. You need to be innovative and adapt your product or service to their reality, because they understand what it takes to develop a product in Asia and bring it to their market.” Still, both men believe Ontario is poised to tap into these two markets thanks to this trade mission and now have a better understanding of the lay of the land. “I think we established the right relationships with the right people. Following up is the key to ensure that we continue to build upon our progress,” says Hofstein. “Whether it’s speaking with them over the phone and Skype regularly or taking a more aggressive approach, but we have to have a regular presence. Everyone talks about addressing the needs of emerging markets, but the only ones that are truly successful at it are the ones that appreciate the need to follow up.” “I feel if nothing comes of this, it will be a mistake,” adds Poznansky. “That doesn’t mean that every senior official in the life sciences should run to Japan and Singapore without thinking things through, but certainly if a company knows of some serious activity going on in Singapore and Japan in their area of business or research, I think they would be remiss if they don’t explore opportunities to get involved over there.” To see this story online visit http://biotechnologyfocus.ca/?p=10354
