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Partner Rx, LLC |
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April 18, 2016 Issue |
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The Most Powerful Name In Corporate News and Information |
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Partner Rx: Life Science Marketplace where Business Development Professionals can post or find a Product or Clinical Asset for Sale, Purchase, in or out License or Co-Market |
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CEO & Founder
Partner Rx, LLC
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – April 18, 2016
CEOCFO: Ms. Ahearn, according to your site, Partner Rx is the life science marketplace. How so? Ms. Ahearn: PartnerRx is a website designed for the bio-pharm, device and consumer business development professional. We focus on the early part of the business development process. Partner Rx focuses on bringing buyers and sellers together by enabling companies to post opportunities or search opportunities that may be a strategic focus for them.
Company solicitation is often time consuming and in many cases yields limited results and interest. This is the most critical part of the partnering process. At the same time searching for the right opportunity or partnership is sometimes a painstaking process that includes many phone calls and significant business analytics resources.
PartnerRx is a forum where the BD professional can post information on assets they are looking to divest or products and technologies they are look looking to out license.
Partner Rx also enables companies to post co-marketing, co-promotion opportunities for assets within their current portfolio. Partner Rx can be described as a Partnering Forum on line that provides you up to date opportunities in real time across the Life Sciences spectrum.
This includes Pharma assets from the pre-clinical stage all the way through marketed or established products. Partner Rx is a confidential and secure network and will be used as another tool for the business development professional to add to their armamentarium.
CEOCFO: How are you able to break it down into categories, sub-categories, and enable search so that people can really hone in on what they need? Mr. Ahearn: PartnerRx is very easy to navigate and its intuitive structure makes it very easy to get started and use. With a few clicks of your mouse, you can post offers and opportunities.
Our enhanced filters allow the user to easily search for opportunities based on their strategic interest. Filters include partnership types, which include in licensing, co-promotions and acquisitions. The Categories filter allows searches in the Consumer, Device and Pharmaceutical sectors. Users can search on pharmaceutical opportunities by stage including pre-clinical opportunities, Phase I, Phase II, Phase III and currently marketed. Finally, users have the ability to choose the therapeutic area of interest for opportunities they are searching for.
Another great feature of the site is the ability for the user to post a detailed summary of the opportunity they are posting. Drop down boxes offer the user a fast and efficient way to post their opportunity. Finally, you have the ability to upload non-confidential summary memorandums or other information that would provide additional detail. The offer listing can be edited and updated at any time. Once an offer is posted, the user has the ability to inactivate the opportunity with a simple click, which makes it invisible to searches.
Our website has a seven-minute tutorial, which will help all users get started. Our news and media tab allows everyone to view our recent press releases and additional media information about Partner Rx.
Visitors have the ability to download our brochure for additional information and with a simple click of their mouse contact us with a message.
CEOCFO: What is your geographic range? Mr. Ahearn: It is worldwide. The website allows easy access for all companies across all geographic areas to easily communicate with each other. There are companies in Asia, Europe, Latin America and North America that are seeking partnering opportunities with each other.
Ms. Ahearn: I inherently have an innovative and entrepreneurial spirit. I worked in the industry for many years and have always been interested in looking for a more efficient and more productive way to do things.
I believe that PartnerRx is a great example of a new way business development professionals can more efficiently and quickly search opportunities or post opportunities.
I know how frustrating it is to get 20-30 phone calls a week from companies inquiring about available assets. Partner Rx can help both the buyer and seller be more efficient by reducing the heavy e-mail and phone traffic we find ourselves in on a daily basis.
Subscribers to Partner Rx are motivated. Whether they are on the sell side or buy side as a member, they are communicating that they are serious about selling, searching for, or partnering assets.
CEOCFO: How are you reaching out to the population that should be using your site and service? Ms. Ahearn: We have planned a phased marketing campaign. We currently have a large e-mail campaign ongoing. In addition, we have planned a telemarketing campaign to the Business Development community. We have organized a media campaign to create awareness and excitement to our target audience following our press release at launch. We will be attending and exhibiting at strategic partnering meetings. We are very excited about the positive response we have received.
CEOCFO: Where are you finding the information that you are posting on your site? Ms. Ahearn: We do not post the information. The companies and subscribers post opportunities through a confidential and secure system to allow companies searching for opportunities the ability to utilize our filters to access deals that fit their strategic focus. If ABC Pharmaceuticals has an asset that they are looking to partner, they would post it with their non-confidential information and their contact information. When another company sees that ABC has something that they are interested in, they contact them directly. We focus on this phase of the business development process.
CEOCFO: What is the business model? Mr. Ahearn: Partner Rx is a subscription-based model. Companies and their business development professionals are provided access to our secure confidential site though a one-year user subscription which can be renewed on a yearly basis. Business development professionals can sign up for a 1-year subscription, which gives them the ability to list opportunities as well as search for opportunities. We specialize and focus on the partner selection phase of the process.
CEOCFO: Why are you confident that people will understand the concept and want to be part of it? Ms. Ahearn: We’ve received very good feedback from Business Development Professionals. Our e-mail campaign has generated interest and visits to our website. We have already been able to secure subscriptions with some large, mid-size and small Pharma companies. We are now beginning additional marketing activities through personal promotion at partnering meetings in addition to small individual meetings. Subscribers see the benefit of seeing opportunities posted in real time. Partner Rx will decrease the incidences of being late to the process for many companies and will be a more efficient way to secure partners. We see our service as a way to supplement their current partnering activities rather than completely replacing what they are currently doing.
CEOCFO: Do you feel there may be a hesitancy to let the world know what you are getting items a company wants to shed? Ms. Ahearn: This is a secure confidential venue. We screen each company and user to verify their registration information. Companies already reach out widely to other companies in a variety of ways. These traditional methods are sometimes time consuming and many times yield poor results. We believe business development professionals will appreciate a new and innovative solution to the company solicitation process.
CEOCFO: It is always a challenge when you do not have something concrete to show people. How are you going to get the first people when they cannot see listings, or are there samples for them to see in the demo? Ms. Ahearn: Our tutorial walks potential users through our website. Our focus for the tutorial was to demonstrate how easy and efficient our partnering tool can be. We have already secured companies who have posted offers to the website though the subscription process. We’re growing and adding users as we progress with our marketing campaign.
CEOCFO: Do you feel that the business development community has been looking for a better way or will they be surprised and excited when they found out that Partner Rx has created one? Ms. Ahearn: Most business professionals are very busy and in most cases continue to work through processes that they have been using over many years. This service will add to people’s productivity. In addition to saving time it will add to the probability of not only finding the right buyer or partner but it will provide a greater degree of confidence of getting the best deal possible.
Ms. Ahearn: At this time, I am self-funding the startup business. I do not foresee the need for further investment sources. As we grow we have additional plans to expand and grow our business to provide further value for the users.
CEOCFO: Why pay attention to Parter Rx right now? Ms. Ahearn: Partner Rx is a dynamic membership only web site dedicated to Business Development organizations in the Life Sciences community. For less than the cost of attending one industry conference, you will be in contact with a community of buyers and sellers who are interested in partnering. Partner Rx is designed to simplify the partnering process and maximize your potential to find the right partner.
CEOCFO: Final thoughts? Ms. Ahearn: The most difficult and critical part of the Business Development process is targeting potential partners. Companies large and small have the difficult task of soliciting potential partners who are both interested and strategically aligned with their offering. Partner Rx simplifies this process by bringing together everything companies need to connect and make an informed decision. Partner Rx links buyers and sellers from the pharmaceutical, device and consumer sectors of the healthcare industry. We’ve created a virtual partnering conference on line which is both effective and cost efficient. With a few clicks of your mouse you are in contact with a community of companies and business development professionals. The site is designed to maximize your ability to partner. |
“The most difficult and critical part of the Business Development process is targeting potential partners. Companies large and small have the difficult task of soliciting potential partners who are both interested and strategically aligned with their offering. Partner Rx simplifies this process by bringing together everything companies need to connect and make an informed decision. Partner Rx links buyers and sellers from the pharmaceutical, device and consumer sectors of the healthcare industry. We’ve created a virtual partnering conference on line which is both effective and cost efficient. With a few clicks of your mouse you are in contact with a community of companies and business development professionals. The site is designed to maximize your ability to partner.”- Diane Ahearn
Partner Rx, LLC
Contact: Diane M. Ahearn 609-608-2744
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Diane
Ahearn