Leaders in healthcare are at the front of biotechnology innovation, using their knowledge to promote breakthroughs that improve patient care and expedite the development of new drugs. These leaders are fostering ecosystems that assist upcoming biotech businesses and expedite the exchange of resources and expertise by embracing collaboration and interdisciplinary methods.
One such leader is Louis Kassa, CEO and President of Pennsylvania Biotechnology Center (PABC). He has achieved a great deal in biotechnology after switching from a successful career over more than 20 years in social services and behavioral health. His foray into biotech started in 2014 when he began working as the Chief Operating Officer at the Hepatitis B Foundation, Baruch S. Blumberg Institute and the PABC.
Kassa’s incubator platform is what differentiates the PABC, and that distinctive approach is what led Brandywine Realty Trust to partner with Kassa and team to establish B+labs. That flourishing, two-year-old, 50,000 square-foot incubator in Philadelphia proves that Kassa has managed to create an environment for biotech startup success.
The establishment of the $50 million Hatch BioFund, a venture capital fund dedicated to promoting biotech ventures, is another aspect of Kassa’s strategic vision. His emphasis on teamwork and creativity has been crucial in propelling the industry forward, especially as he handles obstacles like supply chain problems during the COVID-19 pandemic.
We had a discussion with him regarding his journey and achievements. Let’s delve into it.
Please introduce yourself and share your journey in the biotech industry?
My biotech career started in 2014. Previously I was in the behavioral health field for 20 years. I became chief operating officer for a national behavioral health company before deciding to make a career change. That happened in 2014, when I came Doylestown to work with Dr. Tim Block at the time as the Chief Operating Officer.
What inspired you to pursue a career in biotechnology?
I’ve always been working in nonprofits. I needed to change from what I was previously doing in behavioral health; I felt that I wanted to have certain parameters in place. Most important to me is that I want to lead an organization that helps people and is mission-based. That’s what led me to Dr. Block and the Hepatitis B Foundation, Blumberg Institute and Pennsylvania Biotechnology Center. We met several times, and I realized we had the same core values and the same drive to achieve the overall mission.
How do you stay updated with the latest advances and trends in biotechnology?
That’s an easy one. We have about 100 companies in our ecosystem, and they are all doing various different technologies. We tend to have more small-molecule drug translational research, but we also have medical devices, diagnostics and vaccines. And you get to find out from some of the world’s best scientists, you know, what is the latest trends in those specific fields?
And in B+labs, we have arguably the greatest cell and gene therapy incubator in the country being that Philadelphia was the birthplace of cell and gene therapy, so we get to hear from on the ground directly from the CEOs and CSOs.
Can you describe a challenging project to work on and how you overcame obstacles?
Anyone who built anything during COVID knows there were major challenges, such as significant price increases and issues with the supply chain. We were building a large laboratory and office building, so the pandemic was a major problem for us. We had federal and state grants and various local regulations with deadlines that we needed to meet, so it was a tremendous struggle. There were many days I got up I didn’t know if the project was going to be completed and what impact that would have on our business. But we persevered and we were able to successfully finish the building.
Do you believe collaboration plays a big part in driving innovation within the biotech sector?
Collaboration is the magic sauce of our model. It is really the most important thing, not just in science, but in life. If you want to move forward with an idea, you need other perspectives. You need to have a know-how network, and, in that respect, I really believe we’ve been fortunate. Due to the talent that is in the pharma belt and with the world-class universities in this region, we have that network.
PABC model is based on creating an ecosystem that focuses on people collaborating. It’s that co-collaboration that accelerates the science and leads to a speed-to-market for our member companies’ technologies that is far greater than what we see elsewhere.
What advice would you give to someone just starting their career in biotech?
My advice would be, if you’re launching a biotech company and you’re at an early stage, make sure you have not only the proper scientific foundation, but you have the proper business expertise, even if it’s from a consultant. Too many company leaders don’t assemble their company the proper way, and that costs money down the road. So really having a fully rounded approach to the business is the best advice I can give.
Looking ahead, what trends do you foresee shaping the future of biotech?
It’s pretty evident in the last few years that artificial intelligence and science are emerging and getting to the point of collaboration levels that we still really don’t know exactly how powerful they will be. Pharma companies have had the head start on this. Our early-stage companies unfortunately don’t have the means to utilize AI, or they don’t think they do, due to funding issues. But we are now seeing AI start to have an impact on the science and the incubators.
So, I think that’s really going to be the trend, even having an algorithm that I know is out there that is predicting the success of clinical trials. That kind of AI tool will help a lot of the pharma companies, venture capitalists and even incubator programs like ours decide what companies are the best to invest in. And, by the way, I feel strongly enough about the potential of AI that we’ve created our own AI company, Eldari, to work specifically with early-stage life sciences companies.
Key Achievements and Milestones:
- Elevating the Incubator Model: Kassa refined and strengthened Dr. Block’s original incubator model, incorporating best practices from other successful incubators. This has led to significant growth and success for our startups.
- Launching B+labs: Kassa spearheaded the creation of B+labs, a successful incubator in Philadelphia’s Cira Center, demonstrating the scalability and replicability of our model.
- Expanding National Footprint: Kassa assisted to a secured partnership to manage a new incubator in New York, expanding our reach and impact on the biotech industry.
- Establishing the Hatch BioFund: Kassa initiated the $50 million Hatch BioFund to provide crucial funding for early-stage biotech companies, accelerating innovation and commercialization.
