In a recent webinar hosted by LaunchBio, Tyler Mizenko, Chief Revenue Officer at Prendio-BioProcure, shared valuable strategies for early-stage biotech founders looking to scale their operations effectively.
The discussion, themed "Beyond the Pitch Deck," covered how founders can optimize their JP Morgan Healthcare Conference (JPM) experience and position their startups for long-term success. As a leader in the life sciences procure-to-pay space, Tyler highlighted the pivotal role of analyzing lab spend in transitioning from early-stage to enterprise-scale.
Ruthless Prioritization and Intentional Networking
Tyler began by emphasizing the importance of “ruthless prioritization” for maximizing the impact of JPM week. With hundreds of meetings and events, it’s essential to focus on high-value connections and leave room for serendipitous opportunities. He shared lessons from his early years, where overbooking led to burnout rather than results.
“Go into each meeting with clear objectives,” Tyler advised. “Whether it’s securing a partnership, introducing your science to a key investor, or networking with potential collaborators, know what you’re aiming for.”
Tyler also underscored the significance of using warm introductions to unlock new conversations. Relationships in the biotech ecosystem often start with mutual connections, making it crucial to cultivate your professional network ahead of the event.
Strategic Spend Analysis for Biotech Labs
A key takeaway from Tyler’s insights was the role of spend analysis in driving growth for biotech startups. As early-stage companies begin to scale, inefficiencies in procurement and lab operations can become significant barriers to growth. Prendio-BioProcure specializes in uncovering these inefficiencies and providing actionable strategies for cost-saving and operational improvement.
“Scaling is not just about raising capital or hiring talent,” Tyler noted. “It’s also about making sure your lab spend is optimized. Founders often overlook this aspect, but a deep dive into procurement processes can yield surprising opportunities for savings.”
JPM’s Value Beyond Meetings
Another highlight was Tyler’s approach to making the most of JPM week. While meetings dominate the agenda, Tyler encouraged attendees to leverage the informal events—receptions, dinners, and even casual coffee chats—to build meaningful relationships.
“Some of our most impactful partnerships started with a simple conversation at a JPM reception,” Tyler shared. “These settings often allow for more authentic dialogue, away from the pressure of formal presentations.”
Where to find our team at JPM:
- Portal Innovations' Catalyzing Life Sciences Innovation: The Portal Formula
- LaunchBio's Innovator's Social Hour: Building Connections at JPM
- Aquillius' 2nd Innovation in Women's Health and Pitch Competition
- Schedule a meeting with our team
Preparing for Success
Tyler’s practical advice for founders preparing for JPM included:
- Elevator Pitches: Have both a three-second pitch and a three-minute summary ready, tailored to your audience.
- Scheduling Wisely: Leave room in your calendar for unexpected opportunities.
- Effective Follow-Up: Post-JPM momentum is crucial. Follow up with personalized messages and continue the dialogue after the event.
