Ralph Herbst, Chief Strategy Officer at gene therapy company AskBio (an independently operated subsidiary of Bayer), tells Misiek Piskorski how he has stayed focused on a long-term quest to push the boundaries...
Exploring new opportunities and building up relevant product pipelines are crucial parts of any organization that wants to be future-ready. Yet marked by the metronome of the quarterly reporting cycle, many companies falter, with executivesâ time consumed by addressing immediate concerns at the expense of transforming for the future.
Ralph Herbstâs eight-year quest to advance the field of gene therapy capabilities stands out for his stamina and ability to harvest knowledge, ideas, and enthusiasm across an organization toward his long-term goal.
In late 2016, Herbst, who headed strategy development and implementation at Bayerâs Pharmaceutical Technical Operations division at the time, sat down and wrote a one-page mission statement. Intrigued by exciting developments in the world of biotechnology, he reflected on how he could make a sustainable contribution over the long haul.
âMy personal mission statement was around pushing the organizationâs boundaries, really getting into new areas, seeking innovation, and making it more sustainable,â he recalls.
That opportunity arose in 2018 when Bayerâs pharma leadership team asked him to explore the areas of cell and gene therapies, an emerging form of medicine that works by replacing faulty or missing code in cells or by replacing whole cells to treat everything from deafness to muscular dystrophies, and potentially heart failure and Parkinsonâs disease.
Recognizing he couldnât do this alone, Herbst built up an internal network of knowledgeable colleagues across the organization and established a Cell and Gene Therapy Activator (CGTA) to instill a sense of excitement, curiosity, and momentum around this emerging field of medicine.
Enthused by the topic, many colleagues worked voluntarily in their spare time after work, recalls Herbst, helping build up a knowledge base on everything from science to manufacturing and regulatory requirements. Unlike traditional medicines prescribed monthly or regularly, cell and gene therapies are one-time treatments, necessitating a new type of business model.
âBayer acquired AskBio in 2020, which was founded in 2001 and focuses on using adeno-associated viruses (AAV) for gene therapy.â
With around 100 and 200 people contributing their expertise, Herbst established a core team of five to ten people to evaluate the opportunity. One colleague proposed organizing a pitch event for consulting companies. Despite having no funds to offer, they invited the companies to collaborate by sharing insights in exchange for exposure and learning opportunities. Over three months in late 2018 and early 2019, they received professional support to refine and communicate their ideas effectively, helping them pique the interest of more executive team members.
After a year of exploring the field, the CGTA team concluded that Bayer would need to partner with external firms to jumpstart its development pipeline in this promising medical area rather than trying to build everything in-house.
The companyâs first significant investment in cell therapies took place in 2019 when it paid $600m for full control of US cell therapy developer BlueRock Therapeutics. Keen to preserve BlueRockâs entrepreneurial spirit, Bayer operated the firm at âarmâs length,â creating a blueprint for future partnering relationships.
In 2020, Herbst and the team felt there was more potential in the gene therapy space where the first therapeutics were receiving regulatory approval, so they started exploring opportunities.
âWe were diving deep into two or three opportunities, but in the end, we learned they were not the right ones. But that put us in a perfect situation to explore the right opportunity because we knew what we were searching for,â he recalls.
This turned out to be North-Carolina-based AskBio, which Bayer acquired in 2020. Founded in 2001 by Dr. Jude Samulski, the company has spent the past 20+ years exploring how adeno-associated viruses (AAV) can deliver genetic repair kits against a range of diseases into tissues and organs of the body. According to Herbst, the company takes a âholisticâ approach to gene therapy. Its advanced projects include prospective treatments for Parkinson’s disease and congestive heart failure.
âUnlike traditional medicines prescribed monthly or regularly, cell and gene therapies are one-time treatments, necessitating a new type of business model.â
Over the subsequent two years, Herbst worked closely with AskBio on strategy development, defining the firmâs strengths and scientific and technical credibility so that they could advance where they could have the most significant impact. Excited by the technology, the market opportunity, and â most importantly â the team, Herbst decided to move in-house as AskBioâs Chief Strategy Officer in July 2023.
âI really wanted to join the team and collaborate with them to pursue our mission, which is to lead innovative science and drive clinical outcomes to transform people’s lives. While bringing genetic medicine to rare diseases or so-called monogenic diseases, we also strive to open that space for a broader application of the gene therapy technology in larger pathway diseases that impact tens of millions of people worldwide,â he says. Herbst stresses that although this wonât happen overnight, plans are in place and vigorously optimized to advance the mission and make it a reality.
Itâs fair to say Herbst has achieved his personal mission to help advance a promising new field of medicine. Did he make any mistakes along the way? Herbst concedes that he may have ruffled a few feathers. âWhen you come with the notion of pushing the boundaries, you also need to be careful that you don’t overdo it,â he says, adding that as a German, he has learned how to interact with many different cultures and styles of working and has adjusted to be effective.
For those wanting to follow a similar career path in novel therapeutics, he advises reflecting on whether you want to devote yourself to one area for the long haul. âI compare this to my growth as a leader. Becoming a successful leader, like gene therapy, takes commitment, time, and patience. For me, itâs really appealing to be in a field that continues to develop over a long time frame. And yes, of course, we need to make progress this year, next year, in the next three months. And we do plan for that. But in the end, the big result that we want to deliver may take decades. This may not be the path for everyone; however, it is for me, and I am excited to help shape the future.â
Cristina Carvajal, President of one of Latin Americaâs most respected family enterprises, discusses the benefits of having a family member as the CEO of the family business. ...
25 October 2024 ⢠by Didier Bonnet in The Interview ⢠6 min read
Legendary football referee Pierluigi Collina is interviewed by IMD's Didier Bonnet....
YouTube8 October 2024 ⢠by Didier Bonnet, Brian Eno in The Interview ⢠9 min read
Brian Eno talks to IMD's Didier Bonnet about how to unleash the most unexpected innovations....
YouTube
Audio availableChief Commercial Officer Jan Huckfeldt talks to StĂŠphane JG Girod about why organizations need to take urgent action to reduce and remove carbon emissions....
YouTubeRalph Herbst, Chief Strategy Officer at gene therapy company AskBio (an independently operated subsidiary of Bayer), tells Misiek Piskorski how he has stayed focused on a long-term quest to push the boundaries...
YouTubeMarc Maurer, Co-CEO of On, tells Alyson Meister how the companyâs unique culture â defined by five âSpiritsâ â is helping chart its path to becoming the worldâs most premium sportswear brand....
YouTubeExplore first person business intelligence from top minds curated for a global executive audience
Share