Society for Physician Entrepreneurs Launches in Massachusetts
MassBio to connect doctors with resources for entrepreneurship & innovation
MassBio is launching the Greater Boston chapter of the Society for Physician Entrepreneurs (SoPE), a global biomedical and healthcare innovation network that aims to connect medical professionals with resources and support to bring their ideas, inventions and innovations to life.
MassBio, the state’s life sciences trade association, and SoPE share the common goal of accelerating healthcare innovation.
“We are keenly aware of the critical role that physician entrepreneurs have played in shaping the Massachusetts cluster by developing innovative products and services that benefit patients and improve healthcare delivery. We are also conscious of the significant challenges physician entrepreneurs face in translating those ideas,” said John Hallinan, Chief Business Officer and head of MassBio’s Innovation Services programs. “MassBio is pleased to work with the Society of Physician Entrepreneurs to launch the Greater Boston chapter, and believe that it will serve as an important catalyst for healthcare innovation.”
Founded by three physicians in early 2011, SoPE aims to empower doctors and other healthcare providers with the information, education, connections, experience and funding they need to commercialize their ideas, inventions and discoveries. Its vision, mission and activities are ultimately about improving healthcare: better treatment, greater and faster access, and lower costs.
Omar Amirana, M.D., Managing Director of Life Sciences at Allied Minds, and Kiran Reddy, M.D., Associate Partner at Third Rock Ventures, will serve as interim co-chairs of the chapter. Both men bring to bear significant investment and operational experience in the biotechnology, medical device and healthcare industries.
“Having interacted with numerous physician inventors, it is obvious that as a whole they need and desire guidance and assistance to commercialize their ideas,” said Dr. Amirana. “This is not surprising given that they are experts in delivering care, typically not in developing and launching products or services. This avenue to help shepherd innovation to the bedside will help everyone in the healthcare continuum. I am thrilled to help drive this initiative forward with Dr. Reddy and the MassBio team.”
“Since physicians are on the front lines, they are often in the best position to identify where the pain points are in our healthcare system,” Dr. Reddy said. “Those insights are critical for delivering better treatments and care for patients. But medical school doesn’t teach physicians how to translate their insights into real therapies, diagnostics and medical devices. SoPE provides a forum to help physicians turn their ideas into innovative solutions for patients.”
Dr. Amirana is the Managing Director of Life Sciences for Allied Minds, a U.S. investment firm that deploys private equity to form, fund, manage and build start-ups based on early-stage technologies developed at renowned U.S. universities and federal research institutions. He previously served as Partner at Oxford Bioscience Partners, a Boston-based venture capital firm with ~$1 billion under management. There he sourced and led the Series A investment in nFocus Neuromedical to commercialize a catheter-based aneurysm therapy which sold to Covidien for ~$100 million. His prior Board positions included Coherex, SmartPill, Mitralign, Flowmedica, and Cambridge Endoscopic Devices. He was the co-founder of Cardima (AF ablation; IPO), the VP of Marketing of MedicaLogic/Medscape, CEO of Resolution Medical, and served as VP of Business Development at St. Jude Medical. He is currently on the board of Cardiofocus as well as the Oversight Committee for the Coulter Translational Research Partnership at Columbia University. As a co-founder of Propel Careers, he is passionate about helping aspiring entrepreneurs in life sciences. Dr. Amirana earned a B.S. in Mechanical Engineering from Tufts University and an M.D. from Eastern Virginia Medical School.
Dr. Reddy is an Associate Partner at Third Rock Ventures where he supports and manages various portfolio companies in addition to focusing on new company formation and due diligence. Dr. Reddy is also currently serving as interim Chief Business Officer at Sage Therapeutics, a Third Rock portfolio company. Prior to joining Third Rock, Dr. Reddy was a management consultant at the Lewin Group. Dr. Reddy holds an M.D. and an M.B.A. from Georgetown University and is a board-certified neurologist who completed his training at Massachusetts General Hospital. He has authored several peer-reviewed scientific papers in the field of neuroimmunology and neurodegenerative diseases.
“SoPE's core mission is to help doctors and life science professionals get their ideas to market by fostering scholarship and in-depth understanding of biomedical entrepreneurship. SoPE has grown dynamically the past several years and Boston presents a great opportunity for SoPE to serve as a resource for the medical community. So for many physicians and related professionals who are working on new, innovative solutions in the health care and life science industries, SoPE is the perfect organization to help them reach their goals and assist in the process of commercialization,” said Jeffrey N. Hausfeld, M.D., M.B.A., Founder and Chairman of SoPE.
The first Greater Boston SoPE meeting will be held Tuesday, October 22nd at 5 p.m. at the MassBio offices in Kendall Square. Registration is now open at http://sopebostonlaunch.eventbrite.com/.
SoPE is growing quickly with 6,500 group members and 11 chapters in 10 states and three forming internationally in London, India & Israel. Members include healthcare and biomedical inventors, service providers, investors and industry members representing drugs, devices, diagnostic, healthcare IT products and services, scalable provider platforms and innovative business models. Additional information about the national organization can be found online at http://sopenet.org/.