Our greatest passion is to prevent life-saving technologies from becoming business failures — we collaborate early, support R&D efforts to hit critical areas in strategy, and bring in the needed experts to build essential value with a clear path forward to the clinic: Hilary Schultz, the Managing Partner, Persephoni BioPartners (Philadelphia)

As a biotech executive and managing partner, Hilary Schultz brings a unique blend of entrepreneurial spirit and strategic insight to the dynamic world of biotech startups. Her role is focused on providing invaluable support to early-stage companies, offering strategic guidance, and contributing to their overall success. With a commitment to translating medical innovations into tangible realities, Hilary leverages her extensive experience to steer the challenges inherent in the biotech sector. Collaborating with her ensures access to a seasoned professional devoted to nurturing growth, ensuring sustainability, and driving strategic progress for emerging biotech ventures.

The Silicon Review recently interviewed Hilary Schultz. Here’s an excerpt from her insights.

Interview Highlights

How would you describe your professional Journey so far? Tell us about a few roadblocks and learning lessons that help you grow through the years.

My professional journey has been far from conventional. Initially driven towards a clinically based career, I devoted my undergraduate years to preparing for medical school through various experiences such as clinical work and overseas medical mission trips. However, a transformative experience in Honduras made me realize the limitations clinicians face in serving broader populations. Thus, I redirected my focus toward for-profit ventures to fund initiatives that could have a more extensive impact. Despite not completing my undergraduate degree, I explored the world of business for seven years, fitting the typical story of successful “college dropout”.

In reflecting on my journey, a key lesson from an early business mentor resonates – the profound impact of the individuals one surrounds oneself with. The adage that you are the average of the five people you associate with guided my deliberate selection of business partners. Setting high standards, I sought to be surrounded by individuals whose achievements, character, and interests aligned with the outcomes I aspired to achieve. To name a few, I built international franchise models at the age of 22, with multi-million-dollar engagements in sectors including gas and electricity, brokering, banking services, and investing in companies across diverse sectors.

The thread woven through all of my endeavors was the ability to build teams, lay a road map for both individual and business achievements, and personally developing an insatiable desire to improve myself as a leader and someone worth following. This mindset led me to business endeavors where as a young female entrepreneur, my success allowed me to have a “seat at the table.”

Transitioning back to my pursuit of medicine, I understood the need to refine my language of science while maintaining proficiency in the language of business. I completed my studies in Molecular Biology at Harvard University, advanced degrees in Biomedicine and Business and Bioengineering at Drexel College of Medicine. Learning to navigate both worlds became crucial.

Starting these ventures in my early twenties presented challenges, with age and gender stereotypes posing additional hurdles. However, the mentorship I received played a pivotal role in my ability to navigate these challenges, ensuring that setbacks did not overshadow my long-term goals and purpose. It is powerful to learn to effectively to let your success speak for itself and knowing when you need to bring your own microphone.

My journey underscores the significance of carefully selecting mentors and collaborators, maintaining high standards, and being adaptable in the face of challenges. These lessons have not only shaped my professional trajectory but also empowered me to overcome obstacles and pursue my goals, irrespective of societal expectations or stereotypes.

Q. Trust is one of the most important currencies of leadership that requires authenticity and consistency to maintain. What’s your take on this?

Absolutely, trust serves as the cornerstone in both personal and business spheres. Without trust, the very foundation upon which everything is built, can crumble. In my perspective, trust manifests in various ways, but my primary commitment is to follow through on my promises. Acting as an exemplar of this principle sets the tone throughout the organization, fostering an environment that effectively addresses challenges, troubleshoots issues, and facilitates ideation and pivoting when necessary. Adaptability is key, and having a foundation of trust makes these transitions smoother. When leading a team, trust, transparency, and respect for others becomes invaluable, creating a conducive and cohesive work environment.

In my philosophy, investing in your team goes beyond business endeavors; it extends to their personal well-being and development. By demonstrating sincerity, depth, and a genuine interest in their successes, I believe an intentional leadership approach enhances business performance and nurtures the team dynamic.

Q. As an executive, what are your major goals leading into the next year(s)?

I have two aims – build and source the essential resources needed for start up biotech companies, and successful lead breakthrough technologies to the market.

I have consulted with dozens of eager inventors at some of the most recognized academic institutions. A thread woven through out each is the excitement that their technology could very well be the impact to medicine that is critically needed. Without supportive business mechanisms to bring forth their invention, no therapy found in the lab will make it to patients unless it has a clear path to commercialization.

Vital steerage must occur early in discovery phase of therapy. I have seen critical mistakes made within the scientific discovery that unknowingly closed doors far down the commercialization road. My goal is to empower and assist early companies in achieving their developmental milestones.

My success is predicated on serving as a strategic partner, contributing expertise to enhance the overall success and growth of these budding biotech ventures with the aim of getting more therapies to the patient that desperately need them.

I am committed to contributing to and fortifying the biotech ecosystem in Philadelphia. This involves leveraging my knowledge and networks to facilitate the early formation and success of companies in the region. A specific focus within Philadelphia is enhancing access to funding that extends beyond academic institutions, supporting the growth of early-stage companies. This multi-layered strategy involves considerations of corporate strategy, among other factors, to foster a conducive environment for biotech enterprises.

I find the entrepreneurial environment quite invigorating. In many other business landscapes, competition is a natural element, however, when it comes to making therapies for patients, my adage is to collaborate early and often. My experience extends beyond a singular company, rather, I have garnered experiences from companies of various technologies and within nearly every vertical of standard business operations - enabling me to contribute to various facets of early company formation and engage with multiple stakeholders. This dual-purpose approach aligns with my commitment to both the broader biotech community and the successful execution of my own ventures.

Q. Could you share more details about what your role as Managing Partner at Persephoni BioPartners?

When dealing with early-stage biotech companies, they typically operate in a non-revenue generating phase, relying on infusions of capital. Establishing a solid financial strategy becomes paramount, especially in articulating a compelling value proposition. A key element of this strategy involves anticipating the eventual exit, which could take the form of licensing, a merger or acquisition (MA), or an initial public offering (IPO). This anticipated exit serves as the point of return for initial investments.

For early companies, making critical decisions in their financial strategy is crucial to ensure doors remain open for future fundraising endeavors. Many of these companies originate from academic backgrounds, often lacking expertise in areas such as fundraising, corporate strategy, and other vital aspects of successful company formation and execution. At Persephoni, we provide commercialization solutions to visionary life sciences researchers and early-stage biotechnology startups throughout the entire company lifecycle. Our team has facilitated numerous life science companies to success, pioneering advancements in drug discovery and therapies for progressive diseases and more.

Put it simply, my goal is to support early-stage companies with these crucial components and rinse and repeat. That said, I actively participate in the formation stages of these companies, aiding them in reaching specific milestones. Subsequently, depending on each company’s unique path, there is either an exit through channels such as licensing, mergers, or IPOs, or a transition to a board seat, involving the relinquishment of my executive role.

Furthermore, my role as the Executive Vice President of Nucleate Bio, an international non-profit biotech accelerator, has been a source of invaluable lessons for me. It has provided understanding of the many partners and contributors both for early companies and later stage companies across global markets.

Addressing the challenges embedded in the formation of early-stage companies is inherently demanding, especially in the biotech sector. This difficulty is twofold. Firstly, execution and advancement hinges on the precision and efficacy of scientific data and indications, necessitating thorough validation processes. Secondly, there’s an acknowledgment that scientific outcomes may not align with expectations, requiring the agility to pivot both scientifically and strategically in the world of business.

Q. What specific qualities do you believe you possess that are crucial for the initial development of these companies?

Drawing from a diverse leadership background, I have had the privilege of collaborating across many industries, strategically working with principled leaders across venture, finance, and experts in their field. Equipped with business development, sales, team-building, and decision-making skills, I possess the necessary acumen to make critical decisions. At the same time, I embrace humility, recognizing my limitations within specific skill sets and strategically seeking out individuals who complement those gaps. In this industry, no one person has it all. Executing milestones, in my view, largely hinges on building a robust team. This perspective has been integral to my achievements, particularly in the development of early-stage companies. Each problem in this space is unique, requiring a combination of analytical and creative thinking. My proven track record in this regard positions me to add significant value to the development and success of early-stage ventures.

Q. How do you see yourself in the next five years? What are your personal and leadership aspirations during this period?

My goal is to translate medicine. This involves identifying early potential technologies, establishing companies around them, conducting the necessary data validation to render them investible at scale, and guiding them through the process of FDA approval and clinical efficacy. At Persephoni, we enable biotechs to establish the innovation and ability to pursue successful growth and reach a de-risked and sustainable manner, moving innovation forward and driving value for stakeholders. Persephoni focuses on overcoming the most challenging business aspects of life sciences, allowing researchers and founders to focus on the science.

Simultaneously, I aspire to establish a $100 million investment fund to further bolster deployable capital to early companies as they exit the academic setting. This fund will provide deployable capital to invest in early companies that may be overlooked due to missing components. Given the challenges within the bio economy, particularly in the Philadelphia area, it is crucial to have accessible capital for early-stage companies, coupled with supportive measures and collaborations to ensure their success. The objective is to position Philadelphia as a hub for exciting technology, encouraging its growth and sustainability within the region.

“My proven track record positions me to add significant value to the development and execution of early-stage ventures.” 

Put simply, Hilary Schultz, Managing Partner – Persephoni BioPartners, serves as a strategic partner, contributing expertise to enhance the overall success and growth of these budding biotech ventures within the North East Region.