Start smart: Leader in molecular cell biology and biotech research Harvey Lodish shares tips for entrepreneurs

As a foremost authority on molecular cell biology and the brains behind many biotech startups that have changed the course of genetic engineering, Dr Harvey Lodish is the textbook definition of a scientist-entrepreneur. 

The Massachusetts Institute of Technology (MIT) professor is a highly-regarded figure in the molecular cell biology field. His research over the past five decades, along with his seminal textbook used in fundamental biology modules, he has profoundly shaped our understanding of how cells work. 

Today, he is a driving force in educating not just the next generation of life science scholars but entrepreneurs as well, drawing on his rich experience in translating scientific discoveries into real-world applications.

His own illustrious track record in biotech ventures goes back to 1981, when he co-founded Genzyme (acquired by Sanofi in 2011), which pioneered transformative therapies for genetic diseases. 



Harvey, as he prefers being called, recently shared insights around his experience as a scientist turned entrepreneur at a fireside chat with students from across Singapore’s tertiary institutions, brought together by the National University of Singapore (NUS), Yong Loo Lin School of Medicine, Office of Postdoctoral Affairs (OPA) and SGInnovate. In another closed-door session with SGInnovate’s Helix trainees, Harvey addressed questions that the young biotech professionals had. Here are five key takeaways from both discussions: 

Many young startup founders don’t have a clue about how to run a company. Many still think they are running an extension of their own academic lab. 

My advice is to build a strong team that can take your discovery to the marketplace. Find people who can help you understand the business. Learn how to write a business plan and a budget. 

Find experts with grey hair. These mentors, who ideally have worked in biotech or pharmaceutical companies, would be senior enough to represent you and your company to investors. As a graduate student, you can’t do this. You can make the best business plan, but without someone senior, you won’t get an audience with investors. They want to talk to someone in authority. 

FIND OUT MORE: How SGInnovate’s Helix Immersion Programme can support your move from academia to industry. 

Harvey speaking to life science students and staff from NUS.

It’s important to remember that patents are a tool, not a badge that you wear on your chest. Patents can protect your invention, but if your invention isn’t worth much, they are useless.

So, you need to make sure that your invention has utility. Start with an unmet medical need. Find what needs to be treated, or what needs incremental development. 

READ: How developing medical “gamechangers” gives these scientists meaning

Patents can help a company get started in raising early rounds of funding. Most startups have a patent, but they won’t disclose all their research and development publicly. When they start discussions to raise funding, they sign non-disclosure agreements with the investors who use intellectual property, including patents, as a key metric to assess the startup’s potential worth.

In a discussion facilitated by SGInnovate’s Executive Director of Talent, Juliana Lim (4th from right) and Deputy Director of Talent, Vanessa Ding (first from left), Helix trainees got the chance to speak with Harvey (3rd from right) in a closed-door session. 

Insufficient market analysis is a big reason many startups fail. 

One company, which I helped set up but eventually closed, was a prime example of how brilliant science alone doesn’t mean your invention will make it in the marketplace.

We had a unique, hyper-pure product that worked beautifully. We also had an outstanding scientific advisory board, including a Nobel Prize winner. 

The problem was there were much simpler ways to do what we had created – Amgen had two such products in clinic, and physicians were already using them because they worked. There was no reason for them to switch to our product just because it was hyper-pure.

Nobody had done the market analysis to check whether people would use the product if we brought the invention to market. We closed the company.

So do your market analysis, don’t just jump into what’s popular. For example, Artificial Intelligence is very popular, but only a handful will make billions. The rest will fail.

Most startups don’t start with boards of directors. But you need a board – these are the people who will help you get the money you need and can work with you at a high level. 

The board should also have at least one scientist who is able to explain the company’s research and developments to other board members and to investors. Also, consider having a scientific and medical advisory board early on.

READ: The mentor fostering tomorrow’s gene therapy talent 

It’s helpful to understand the value of your invention. Personally, I discovered the value of research when I attended a lunch with investment bankers in Boston, who offered me US$5 million for my work. I was so stunned that I stayed silent. The banker raised his offer to US$10 million. I suddenly realised what my worth was. 

I didn’t take the offer. Instead, I talked to my MIT colleagues, and in 1977, eight of us created a consulting practice. Companies valued our assessment of the impact of biotechnology on their core business.

One day, we were asked to evaluate the quality of potential candidates for the scientific advisory board of a startup. My assessment: the group was a “B+”, not an “A”. The eight of us were then invited to join the board – and that was the start of Genzyme. 

When we joined the Genzyme board, we brought skill sets across different scientific fields. We worked together to evaluate the science. That helped us understand the value of the invention and the business we were in.

Statistically, the majority of science graduates end up outside academia. 

Start thinking early about your learning curve as you begin to develop your career. Ask to take on increased responsibility in your field – it’s partly for researching the science, but much of it will be managing and leading people. This is an important skill.

Always think about where you want to be in 10 years. You can look beyond what you’re doing to get there. For example, take up business school courses on finance or entrepreneurship. Learning to explain what your company does to investors is tricky. It’s very different from giving a thesis defence – but that’s part of the learning curve. 

One area worth gaining exposure to is bioprocessing. It is important to learn skills that allow for the scaling up of manufacturing. It may not seem to like an appealing field to study, but the industry has a need for people with these skill sets, and those that do are highly valued.

Find out more about SGInnovate’s upcoming networking and community events here.