A business-development expert with a biomedical background has been named the Long Island Bioscience Hub’s latest bioentrepreneur-in-residence.
Derek Brand, who most recently served as vice president of business development at New York City-based biotech firm Enumeral Biomedical Corp., will be the eighth bioentrepreneur-in-residence since the program launched in 2013, according to the LIBH. He’s also the third to join the mission in less than a month, following the November appointments of Brian McCarthy and Lian Luca Araldi.
The hub is a National Institutes of Health-supported partnership between Stony Brook University, Cold Spring Harbor Laboratory and Brookhaven National Laboratory designed to help commercialize technologies created at the member institutions.
Diane Fabel, director of operations for SBU’s Center for Biotechnology and de facto head of hub operations, called Brand “an excellent addition to the team of entrepreneurs” supporting the hub.
“We’re excited to see the positive impact these entrepreneurs will have as new companies are launched within the hub,” Fabel said.
Brand has plenty of experience impacting startups. Before Enumeral Biomedical Corp., which is leveraging a single-cell immunology platform developed at MIT, he held executive and research-based positions at several early-stage, venture-backed biomedical companies.
He also served nearly four years as director of business development for the New York Academy of Sciences, following a multiyear stint as a global product manager for GE.
Brand, who earned an MBA from Babson College in Massachusetts and a bachelor’s of science in biology from Hamilton College in upstate Clinton, said he was “looking forward to bringing a diverse array of startup experience to the LIBH community.
“The opportunity to dig in at the earliest stages of innovation with the exceptional scientists at Long Island institutions is a terrific opportunity,” Brand said in a statement. “It’s an honor to have been selected.”
In addition to McCarthy – a biotech strategist with operational, startup, developmental and financial expertise – and Araldi, founder of East Setauket biotech consulting firm U.S. Pharma Services, Brand joins an impressive roster of resident bioentrepreneurs looking to position companies for grant opportunities, help startups secure angel and VC investment and otherwise shepherd technological advances toward commercial stages.
Brand’s appointment tops off a progressive 2015 for the LIBH, including the launch of a “boot camp” training program for would-be entrepreneurs focused on elevator speeches, intellectual property law and other business-world concepts. The hub also announced plans to award $8.1 million in grants – funded by a $3 million NIH award and over $5 million in contributions from the member institutions, the SUNY Research Foundation and Empire State Development – to local startups looking to bring biomed breakthroughs to market. The first funding announcements are expected soon.