Advisor: Jim Smeeding
Industry: Pharmaceutical industry
Areas of Expertise: Pharmaceuticals, biotech, specialty pharmacy, business development, managed care, and hospital practice. Jim’s expertise lies at the intersection where science, technology, and health come together to form a business and ensuring the business’ success
We recently had a chance to catch up with pharmaceutical industry expert Jim Smeeding who is based out of Dallas. Jim is a triple threat: he started his career as a clinician, moved into management, and is now in the business development side starting and growing companies. Below is a recap of our conversation, with responses edited for clarity.
InquireOf: What are the most interesting trends you see in your industry today?
Jim: The pharmaceutical industry is America's original high tech industry, one of the most vital areas where science and health come together. Precision medicine is taking off, which uses a person's genetic orientation, their makeup, background, socioeconomic status, etc. and produces medication specific to the patient. The oncology space is filled with precision medicine now.
Genomic therapy (the development of specific antibodies based on someone's genes) and curative therapies (medicine practiced with the intent to cure genetic diseases, rather than just reduce the pain or stress) are also trending.
InquireOf: What shifts have you seen over the last five years in your industry?
Jim: Some of the biggest shifts are in personalized medicine, the development of specialty pharmacy in specific, chronic diseases, and the application of digital technologies to help people manage their health. Getting the timing right is really the critical factor in terms of the application in medicine.
InquireOf: What trends should people look to see in the next 18-24 months?
Jim: Digital medicine (application-driven disease management) is still in its infancy as we are all more and more dependent on technology (e.g., bio sensors). There will also be a lot more care management, whether through a provider or through the information that is now more accessible than ever.
Why Connect with Jim?
Jim has been in the pharmaceutical industry for 45 years. He is known as one of the most highly networked people in pharmacy and is especially known for his expertise in "pharmapreneurship,” the intersection of pharmaceuticals and entrepreneurship. Jim led the National Association of Specialty Pharmacy and with 250 new oncology agents expected to come to market in the next two and a half to three years is certainly an expert for investors in the space to know.
Fun fact: Jim recently returned from cycling for two weeks with his wife in France.
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