The Search and Evaluation (S&E) group is part of the Corporate Business Strategy Office (CBSO) and actively supports global Business Development (BD) goals by sourcing and assessing external partnering opportunities that are aligned with AbbVie’s R&D and BD Strategies. The S&E team interacts with biotech and biopharma companies, academic institutions, venture firms, and other stakeholders from the life sciences industry ecosystem, for exploration of potential opportunities to collaborate, in-license, out-license, invest into- or acquire assets. The group is responsible for leading the global search efforts for assets of high strategic value across the entire spectrum, from early-stage Discovery alliances to the evaluation of programs that are in late-stage development or marketed. S&E is responsible for conducting all scientific/technical due diligence to ensure an in-depth understanding of the science behind each of these opportunities. Oncology represents one of AbbVie’s strategic therapeutic area pillars for the company.
The Director, Search & Evaluation will be a key member of the Oncology S&E team, responsible for coordinating due diligence and presenting assessments of individual partnering opportunities to therapeutic area leadership and senior governance committees as well as contributing to Oncology and BD strategy initiatives. This is a very attractive opportunity for an experienced biotech or pharmaceutical industry professional who enjoys a high-energy, entrepreneurial environment, and a highly visible role that offers a chance to make significant contributions towards AbbVie’s BD goals and to reinforcing AbbVie’s role as a world-leading pharmaceutical drug developer in the Oncology space.
Key Responsibilities Include:
- Proactively search for, identify, and evaluate potential opportunities (research collaboration, in-licensing preclinical and clinical assets, platform technologies and research tools) that are consistent with external BD strategies for the advancement of AbbVie’s Oncology pipeline, and driving sustainable growth for the Company. Review external opportunities for scientific merit and feasibility.
- Lead the assessment of opportunities (in conjunction with the R&D Therapeutic Area Steering Committee, functional area subject matter experts, Business Development and Acquisitions (BD&A) function and commercial organization), including: (1) managing the interactions with external parties; (2) overseeing the evaluation process and timeline; (3) developing timely recommendations and proposals for senior management, and; (4) supporting the commercial organization in commercial assessments of opportunities.
- Lead the due diligence efforts (in conjunction with the TA Leadership and Functional area SMEs) for advanced opportunities, prepare initial technical documents and present those to the senior management.
- In partnership with the transaction teams (Technology, Licensing and Collaborations/BD&A/ AbbVie Ventures) develop appropriate deal structures, risk mitigation and negotiating strategies and ensure alignment with AbbVie’s TA objectives and functional management.
- Communicate status of ongoing deals to key internal stakeholders on a timely basis, including preparation of opportunity assessments and summaries for executive-level audiences. Deliver oral and written presentations to senior management to seek approval for new opportunities.
- Build the AbbVie brand via participation and presenting AbbVie’s Vision & Mission at key scientific and industry forums. Network with external parties to ensure awareness of AbbVie key capabilities and BD objectives.
- Facilitate and maintain opportunity identification and assessment processes to move projects forward in the most efficient and effective manner and provide recommendations for declining/deprioritizing ideas early and effectively.
- Facilitate creation of institutional memory for opportunities by providing clear, concise assessments and recommendations for future reference. Fully leverage new and existing external and internal opportunity management tools to support the operations of the growing S&E group as it relates to tracking incoming opportunities.
- Lead/contribute to efforts for creating evergreen external BD strategies aligned to AbbVie’s Oncology TA strategy and portfolio goals.
- Lead/contribute to efforts for business process improvement initiatives through R&D organization and BD teams in line with the current industry standards.
Basic:
- PhD, MD, MD/PhD in a Life Sciences Field, preferably Oncology-related.
- 12+ years of relevant industry experience required, with 2-3 years in S&E, BD, venture capital, technology transfer, or other partnering-focused professional experience.
- Practical experience in the pharmaceutical or biotech industry in at least one major area of drug development, such as Discovery, Preclinical Development, Clinical Development, or Regulatory Affairs. Must possess solid foundation of generally accepted BD practices, including term sheet and deal structures customary in the industry, valuation methods, forecasting, negotiation, and project management for BD.
- Demonstrated project management/leadership skills to lead/manage cross-functional teams in evaluating target opportunities partnering opportunities and producing high quality assessments of scientific and therapeutic hypotheses, as well as preclinical and clinical data.
- Ability to drive projects to deliver timely results and follow through on internal and external commitments.
- Strong communication skills to effectively communicate business strategies and capabilities internally and externally, present individual and team recommendations clearly and concisely, and foster cross-functional consensus-building.
- Strong people leadership and interpersonal skills and demonstrated negotiation and influencing skills with diverse groups of internal and external stakeholders.
- Strong existing network and networking skills to reach out to a broad range of industry decision makers to keep abreast of emerging opportunities.
- Strong business acumen and ability to drive well-informed, fact-based decision making.
Key AbbVie Competencies:
- Builds strong relationships with peers cross functionally and with partners outside of the team to enable higher performance.
- Learns fast, grasps the “essence” and can change the course quickly where indicated.
- Raises the bar and is never satisfied with the status quo.
- Creates a learning environment, open to suggestions and experimentation for improvement.
- Embraces the ideas of others, nurtures innovation and manages innovation to reality.
The preferred base location is corporate headquarters in North Chicago, IL. The role is a hybrid opportunity not intended to be home-based/remote, outside of situations that require temporary adjustments in this regard.
Applicable only to applicants applying to a position in any location with pay disclosure requirements under state or local law:
The compensation range described below is the range of possible base pay compensation that the Company believes in good faith it will pay for this role at thetime of this posting based on the job grade for this position. Individual compensation paid within this range will depend on many factors including geographic location,and we may ultimately pay more or less than the posted range. This range may be modified in the future.
We offer a comprehensive package of benefits including paid time off (vacation, holidays, sick), medical/dental/vision insurance and 401(k) to eligible employees.
This job is eligible to participate in our short-term incentive programs.
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of anybonus, commission, incentive, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's soleand absolute discretion unless and until paid and may be modified at the Company’s sole and absolute discretion, consistent with applicable law.
AbbVie is an equal opportunity employer and is committed to operating with integrity, driving innovation, transforming lives and serving our community. Equal Opportunity Employer/Veterans/Disabled.
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