Strength Through Diversity
Ground breaking science. Advancing medicine. Healing made personal.
We are seeking a driven and experienced business development professional for a position within Mount Sinai Innovation Partners (“MSIP”), the technology and commercialization office of the Mount Sinai Health System (“MSHS”). The Business Development and Licensing Professional (BDL Professional) is a mid-senior level position and an ideal candidate will be reliable, motivated, efficient, collaborative, outcome-driven, and can thrive and execute independently in a fast-paced, high volume environment. The BDL Professional is conversant and comfortable with both academic and commercial partners, capable of fostering and growing networks, and serves as a resource for creating, evaluating, positioning, and identifying partnering opportunities for commercially relevant translational research. The BDL Professional manages a diverse portfolio of assets across different stages of the commercial life cycle and contributes to the organization by sourcing and managing new technology disclosures, crafting patent strategies and marketing plans, and engaging with the commercial marketplace to help ensure that innovative, diagnostics, devices and other technologies are made available to our worldwide patient population and become the new standard of care. The BDL Professional reports to the Managing Director of Business Development and Licensing, providing “sleeves rolled up” strategic execution on all business development and deal-making activities, including prospecting and sourcing potential partners, creating compelling pitch material, and leading deal negotiations. The BDL Professional will primarily support Sinai BioDesign, an innovation and fabrication hub within the Icahn School of Medicine at Mount Sinai whose mission is to catalyze technological innovation at Mount Sinai within the medical device space. Specific responsibilities are outlined below.
- Has a deep and comprehensive understanding of patent law and prosecution strategy and, collaborates closely with the Patent Team to develop and direct the execution of the agreed-to patent strategy including claim drafting
- Has accountability for legal fees and investments for patent application and prosecution and commercial deal-making
- Thoroughly understands the commercial value and market positioning of a technology, and executes on the identification of commercial partners and marketing strategies
- Scouts internal programs to identify early-stage research that could be positioned for commercially relevant opportunities, educates and influences inventors on how to get to the next commercial value inflection point to de-risk assets and facilitate partnerships
- Actively supports, educates, and consults with MSHS inventors re: their technology development
- Commercializes technologies from any scientific discipline
- Has advanced understanding of development processes of the applicable technology type
- Leads identification, sourcing and evaluation of potential commercial partners
- Drafts term sheets of financial and non-financial commercial terms as well as drafts and edits agreements of all types and complexities and is comfortable leading deal team negotiations of all types and complexities.
- Is dedicated to effective and timely deal closing that creates win-win situations and positions MSHS assets for success and value maximization
- Determines FMV of technology based on rNPV/comps or other recognized methodologies
- Oversees complex and contentious post-deal compliance matters, especially reporting obligations, due diligence, and payment matters in collaboration with MSIP’s Finance & Operation team and MSIP’s Alliance Management team
- Interfaces with senior executives and decision makers in the med tech, venture, and legal industries as a visible representative of the MSHS.
- Establishes, maintains and grows an active network with industry contacts; strives to be the preferred partner
- Leads any intra-MSHS interaction and is viewed by faculty and senior leadership across the MSHS as a trusted partner
- Plays an active and hands-on roll in developing and mentoring MSIP colleagues.
- Recommends and/or evaluates candidates for hire
- Performs other related duties as assigned
- Seeks to advance job knowledge and MSIP’s external presence through active participation in conferences, lectures and other career specific networking events
- Masters of Life Science, Ph.D. strongly preferred
- MBA or JD a Plus
- 7 plus years of relevant experience in the medical technology, biotechnology, or academic healthcare sectors with demonstrated success;
- Track record of successful negotiations and executed complex intellectual property deals (deal sheet required)
- Registered Patent Agent, a plus
- Certified Licensing Professional or Registered Technology Transfer Professional, a plus
- Demonstrated scientific, legal, and business acumen
- Possesses strong multi-tasking and time management skills in a fast-paced environment
- Ability to effectively use emotional information to manage up and down; recognizes when to ask for support from senior leadership;
- Ability to navigate and resolve conflicts of diverse complexities while preserving positive relationships through the combined use of outstanding interpersonal skills and scientific and business knowledge;
- Ability to enhance organizational reputation by recognizing when to seek support by taking ownership of actions and exploring new opportunities and navigating diverse stakeholder interests
- Is an MSIP brand ambassador, and reflects the brand (at all times) in appearance, language, work ethic and behavior at all times
- Possess sound judgement and critical thinking
- Proven ability to establish, maintain, and expand effective partnerships and relationships
- Proven ability to function well as a contributor to interdisciplinary groups
- Ability to work in a virtual office setting as well as regular office environment