🧬 Sandy Paige - Seabright Ventures Fund - Part 3 | Managing International Distribution | Meaningful Work & Personal Buy-In as a Form of Equity | Getting Into Business Development & The Importance of Sales Experience | Starting & Running a Search Fund

The Biotech Startups Podcast

Part 3 of 4.
My guest for this week’s episode is Sandy Paige, co-managing director of the Seabright Ventures Fund, a search fund investing in the US middle market, with a focus on life sciences and cleantech. Sandy is an expert CEO, most recently leading and scaling Explora BioLabs before its acquisition by Charles River Laboratories for $295 Million.
Prior to Seabright, Sandy led The Jackson Laboratory as a Site Director and a Director of International Distribution from 2008 to 2018. Before The Jackson Laboratory, Sandy spent time as a general manager, consultant, and financial analyst, gaining extensive experience in a wide range of industries outside of the life sciences.
Join us as we sit down with Sandy to talk about his experience managing international distribution at The Jackson Laboratory. Sandy also discusses how meaningful work and personal buy-in are important forms of equity. We cover his thoughts on how business development is different from sales and his advice on getting your start in BD.
Lastly, Sandy touches on leaving The Jackson Laboratory to start a search fund, his success in doing so, and the initial stages of his acquisition of Explora Biolabs. Please enjoy my conversation with Sandy Paige.
Find Our Guest, Sandy Paige, at these links:
https://www.linkedin.com/in/nathanielsandypaige/
https://seabrightventuresfund.com/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:00 Intro
01:01 Episode starts, managing international distribution at The Jackson Laboratory
03:32 The Jackson Laboratory and cancer research, personal buy-in as a form of equity
06:08 Advice on business development, starting in sales, and the benefits of that experience
10:20 The importance of learning about sales, and business development as “everyone’s job”
13:38 Leaving The Jackson Laboratory, raising a search fund
16:12 Learning about search funds, raising the fund at age 48
18:50 Finding Explora Biolabs, the prevalence of VC money in biotech companies, finding a good business “fit”
21:50 Outro
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Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:

Topics Mentioned:

The Jackson Laboratory https://www.jax.org/
Marketing & Sales Strategies https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs
Intellectual Property 101 https://www.excedr.com/resources/intellectual-property-guide
Understanding Intellectual Property Rights https://www.excedr.com/resources/intellectual-property-rights-for-biotechs
How to Protect Your Intellectual Property https://www.excedr.com/resources/how-to-protect-your-intellectual-property
Life Sciences Licensing Agreements https://www.excedr.com/blog/life-sciences-licensing-agreements-guide
Patent Licensing & How It Works https://www.excedr.com/resources/how-patent-licensing-works
Search Fund https://en.wikipedia.org/wiki/Search_fund
Explora Biotech https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquires-explora-biolabs
What Is Secured Debt https://www.excedr.com/blog/what-is-secured-debt
Understanding Debt & Equity Funding Options https://www.excedr.com/resources/debt-equity-options-funding-startup

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