Since 2016, you’re Chairman of the Board of Versantis. How did you hear about them?
Someone from my network introduced me to the founders, Vincent and Meriam, when there were just the two of them, four years ago. At Baxter, we had a strong business in a field that is close to the work of Versantis. I ultimately became interested, as Versantis is not just exciting science, but also has two very capable founders.

How do you see your role as chairman?
As a chairman, you’re involved in agreeing with the company’s strategy and ensuring that the right people execute it. I see my contribution in two important aspects. First, I counsel Versantis in their fundraising efforts and coach the management team when necessary. I helped the company closing its first VC Round with leading international life-sciences investors such as Redalpine and HealthEquity. Bringing in external investors is a big change for founders, as they may have to let go of many freedoms. My second focus is on coaching the team as they become seasoned entrepreneurs. It is not always a given for a young scientist to become a CEO. And while it is clear that I can’t advise them on the science, they know more about this topic than I ever will, my entrepreneurial experience helps them gain new perspectives and consider their options under a new light.

You must also have very valuable contacts to potential acquirers from your time in the Industry. 
Of course, it’s good to have a strong network with senior contacts. Honestly, big companies often talk about their openness to innovation. Once you’re on the other side you see how inaccessible even junior employees can be to young founders. It is important that the Industry realizes how closed their doors really are and starts doing something about it.

When you say this is early, when do people in this industry just talk and when do they decide?
Usually, pharma firms wait for the results of clinical trials and will only acquire a startup if it has positive phase 1 or phase 2 results. Versantis is just starting a phase 1 study in humans now and a number of interested companies are already asking for the data, which will be shared with them as results become available early next year.

What is the object of this trial?
At this stage, Versantis is testing the safety of their product for the first time in humans. We do not expect any surprises at this point as the product is not a new molecule and its components have already been tested and approved. Although this small study is not designed for that, many potential investors hope to see some early signs confirming the efficacy of the product. As I said, this trial has a different objective, so we shouldn’t set our expectations too high.

What has been especially challenging in the 3 years since you joined Versantis?
Clinical development has almost been hiccup-free, but our very competent COO has faced operational challenges no one could have foreseen. I have to highlight that every time the two founders were confronted with problems, they have dealt with them in a steady and professional way.

What is your main goal now?
We are about to close the next financing round and look forward to the leaps in clinical development that the end of this year will bring. We’re all curious to see the results of the first clinical study in real patients.

Is this going to be a very long journey?
Both founders would enjoy pursuing an independent future of the company. As soon as we prove the safety of the product, our current interactions with the pharmaceutical companies in the field will become more tangible. We expect a deciding moment in 2 years when phase 2 clinical tests will have demonstrated the efficacy of Versantis’ product.