Patrick Lucy on business pivot
From Patrick Lucy, VP of Business Development - Pfenex · · Biotechnology Innovation Organization
“Recently we've pivoted to becoming a product development company so the development of a pipeline of biosimilars as well as a couple novel vaccines has really positioned the company for growth and value growth.”
On , Patrick Lucy, Senior Vice President & CBO Protein Expression Business at LIGAND PHARMACEUTICAL INC, spoke about business pivot during Patrick Lucy, VP of Business Development - Pfenex on Biotechnology Innovation Organization.
About Patrick Lucy
In a 2013 interview at the BIO convention, Patrick Lucy, then Vice President of Business Development and Marketing at Pfenex, described the company as a venture-backed biotechnology firm based in San Diego, California. He stated that the company possessed a novel protein expression technology platform used to generate a pipeline of biosimilars and novel vaccines. Lucy noted that Pfenex had recently pivoted from being a technology and service provider to becoming a product development company, a transition he described as a "great upside" for the organization. He also mentioned that the company had announced a joint venture with Agile Biotech to develop a series of six biosimilars, with the first product expected to enter the clinic later that year. Lucy, who said he had been attending the BIO convention since 1993, advised other attendees to research the partnering system thoroughly before meetings to maximize value. He characterized the conference's attendees as "high value business folks" and praised the venue and location.