Director of Business Development
Fortress Biotech, Inc. (“Fortress” or the “Company”) is an innovative biopharmaceutical company focused on efficiently acquiring, developing and commercializing or monetizing promising therapeutic products and product candidates. Fortress is a commercial stage life sciences company with a robust development stage pipeline and a uniquely scalable and risk-averse business model. It is the parent company to four public partner companies and seven additional private subsidiaries, all focused on drug development and commercialization. Fortress has equity ownership in the partner companies ranging from ~18% to 82%, potential royalty streams of 4.5% from most partner companies and annual equity dividends of 2.5% from most companies. The Company reported record net revenue in the first half of 2022 of $42.8 million, an increase of 45.5% versus the first half of 2021. In 2021, the total R&D spend on Fortress’ programs exceeded $150 million. However, the R&D spend at Fortress was only ~$6 million, with the balance being covered by partner companies Fortress controls as well as partners of partner companies. Additionally, in most instances through equity, royalties and milestones, Fortress anticipates 20-40% of the total economics/value of these programs within several quarters to a few years after product launch.
Fortress has in-licensed and/or acquired 60 products and product candidates since 2014 and it has more than 20 full and part time search and evaluate team members continuously scouring the globe for drug development candidates and already marketed biopharma products. Fortress currently has eight marketed pharmaceutical products and 31 development stage programs including 20 clinical-stage programs in 31 clinical trials, of which four programs are in seven pivotal clinical trials. One Biologics Licensing Application filing is expected by January 2023 for a monoclonal antibody in oncology. Fortress aims to become a positive cash flow earnings company quickly through a diversified development and commercialization portfolio without taking single product risk. The Company focuses on scaling existing partner companies and the creation of new subsidiaries through efficient and targeted business development. Our R&D pipeline comes from the over 14,000 unique clinical stage drug candidates all over the world supported by over $350 billion in spending. We find many of these opportunities are unknown enough to be very inefficiently priced.
A recent example of the business model is when Fortress found and acquired CAEL-101 from a major U.S. medical research center, and on a $200,000 investment, the Company sold CAEL-101 to AstraZeneca in the fourth quarter of 2021 for $150 million upfront and an additional $350 million in potential regulatory and commercial milestones in coming years. Fortress receives ~42% of total proceeds.
We are looking for a motivated, resourceful and experienced life sciences investor relations professional who will be excited by and excel at communicating our uniquely scalable business model to both life science investors and non-life science equity investors – particularly those that would value a very broad and deeply diversified portfolio of development stage and marketed products. The Director of Investor Relations is a core part of the Fortress team and will also work collaboratively with our 11 controlled companies and their teams. The position requires knowledge of life sciences investor relations.
Who We’re Looking For:
- Driven individual looking to build a career in the biopharmaceutical industry
- Role requires discipline and a strong work ethic
- Must be able to network extensively and engage both academic and commercial sectors of biopharma
- Exceptional organizational, analytical, interpersonal, and written and verbal communication skills
- Strong understanding of key elements of drug research and development
- Ability to work independently, as well as in a collaborative manner with other groups in the company
- Cultivate substantive relationships and credibility with internal and external parties
Positive Attributes (NOT Requirements) Include:
- MD, PhD, or MBA degree(s)
- Life sciences investment, research, banking, and/or consulting experience
- Knowledge of the pharmaceutical/biotechnology industry
- Business development or related experience
Responsibilities Include, but Not Limited To:
- Identify clinical-stage therapies for acquisition or license from key academic, corporate or other entities involved in drug research and development
- Network extensively and establish and maintain relationships with leading academic researchers, clinicians and industry leaders; maintain list of contacts in CRM for networking and news distribution
- Engagement with key opinion leaders in targeted therapeutic categories in order to find and diligence new product opportunities
- Support due diligence activities and collaborate with other team members to develop diligence reports and materials
- Detailed transaction status and asset diligence reporting
Minimum Eligibility Requirements:
- Bachelor’s degree or equivalent experience is required
- At least five years of previous experience in a related biotech or pharma consulting or similar role is preferred
- Applicants should live in/close to Miami Beach or be willing to relocate
- Must be eligible to work in the United States
- Competitive including equity
- Miami Beach location preferred with some travel required
Fortress Biotech, Inc. is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by applicable law.Director of Business Development
Miami Beach, FL: Apply Now