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CEO Spotlight: Stephen Dilly, CEO, APT Pharmaceuticals, Inc.
By Sterling-Hoffman Life Sciences Journal
Stephen Dilly, CEO and President of APT Pharmaceuticals,
an innovative company that focuses on developing drugs for
under-served populations, is not your average CEO. With a
medical degree and a Ph. D., along with extensive experience in
drug development, Stephen has leveraged huge opportunities for
APT despite the company’s small size. The Sterling-Hoffman Life
Sciences Journal talks to Stephen about the biopharma industry
and what inspires him.
Sterling Hoffman Life Sciences Journal (SHLSJ): What inspired
you to have a career in the life sciences industry?
Stephen Dilly (SD): It's a unique environment to leverage
scientific, clinical and leadership skills to the full. What a
great thing to be stretched in all those directions at once.
SHLSJ: Who is your greatest source of inspiration in the life
sciences industry? And in your life?
SD: The leader I most admire is Art Levinson of Genentech. I saw
him operate at close quarters for 5 critical years and 'what
would Art do?' is a question I ask myself a lot.
From another realm, Marshall Zhukov – the Russian general who
staked his life on defending Moscow when the conventional wisdom
said it couldn't be done.
SHLSJ: Which segment within the life sciences industry do you
see as a growing prospect in the coming years?
SD: Small, nimble companies that can capture niche markets and
then move into the mainstream. No accident if that sounds like
APT.
SHLSJ: In your opinion, what are the most significant
developments in the bio-pharmaceutical industry in the last five
years?
SD: The loss of productivity in Big Pharma R&D. The increasing
cautiousness of regulatory agencies and finally the significant
progress in understanding disease mechanisms in cancer.
SHLSJ: What are the challenges that still need to be overcome
within the pharmaceutical industry?
SD: This is a very long list, but I will choose one that is dear
to my heart.
As a society, we need to get better at bringing truly effective
therapies to patients who need them independent of the size of
the population. Quite often the technology exists, but the
program is de-prioritized in favor of bigger markets or the
economics just don't make sense for a company or investor. The
solution lies in a collaboration among different groups such as
the biopharmaceutical industry, government (FDA) and non-profit.
SHLSJ: What is one of the most significant challenges you
overcame during your career.
SD: Convincing Novartis to
license CIS to a company of 3 people was interesting. I believe
we turned our small size into an advantage – we are clearly
committed to getting to the finish line. It was gratifying that
the main driver for Novartis was benefiting patients rather than
the economics of the deal.
SHLSJ: What was it about APT Pharmaceuticals that made you want
to join their team?
SD: An opportunity to put together a purpose-driven organization
from the ground up. The very fact that I was the first full-time
employee was both scary and liberating.
SHLSJ: What changes have you noticed in yourself from when you
joined the company to today?
SD: I feel much more rounded as a leader
– being CEO forces you
to think more broadly. You can't afford to just be the R&D guy.
I love the intellectual challenge of finding and executing on a
strategy that is scientifically sound, fundable and has a great
chance of regulatory and commercial success.
SHLSJ: Tell me about some of the significant discoveries APT
Pharmaceuticals has made since you joined.
SD: Our most significant discovery has been just how much you
can do with 10 people.
SHLSJ: APT Pharmaceuticals tends to focus on orphaned drugs. Why
the preference of orphaned drugs over developing drugs yourself?
SD: I admire people who are doing discovery research in
venture-funded companies for their optimism. Research is
expensive, resource-intensive, high-risk and takes a long time.
There are a huge number of potential 'repurposing' projects. By
working on approved drugs with known mechanisms in areas of
unmet need, we greatly improve our return on investment and
reduce risk.
SHLSJ: Many people would view being a small company as a
disadvantage. Yet, APT Pharmaceuticals is currently testing a
revolutionary product, inhaled cyclosporine that can
significantly extend the life of lung transplant patients. Do
you think company size matters when it comes to bringing
effective products to market?
SD: As I said before, it's
amazing what you can do with 10 people and a common purpose. We
are about 10,000 times smaller than GSK or Novartis – so it's
not surprising that we are able to thrive on smaller
opportunities.
SHLSJ: Tell me about your
core initiatives right now – what are some of the focus areas
for 2008?
SD: The prime focus for APT right now is execution. We have a
big Phase III on our hands, and the biggest value driver is
making sure we come out the other end with great data.
SHLSJ: What do you think is the ideal style of leadership?
SD: I am a big fan of Robert
Greenleaf's “Servant Leadership”.
If you choose your people carefully you get the most by trusting
and enabling them. However, no single style can be optimal in
all circumstances. So a combination of 'Servant and
Situational'.
SHLSJ: How do you balance your personal and professional life?
SD: By surrounding myself with people I like to work with and by
remembering what's important.
Stephen Dilly is President and CEO of APT Pharmaceuticals, a
drug development company focused on repurposing
well-characterized drugs for under-served populations. He has
over 20 years of experience in the biotech industry. Stephen
previously served as the Senior Vice President of Development
and Chief Medical Officer for Chiron BioPharma. He also held
executive positions for Genentech and SmithKline Beecham.
Stephen has been closely associated with the successful
development and launch of a wide array of important drugs like
Kytril, Paxil CR, Kredex, Requip, TNKase, Xolair, Avastin,
Raptiva, Tarceva, Lucentis and Cubicin. He currently serves on
the board of directors for Avigen, a biopharmaceutical company
developing innovative therapies for neurological conditions.
Stephen has an M. D. from the University of London and a Ph. D.
in Cardiac Physiology from the University of London. For
interview feedback, contact Stephen at
sgdilly@aptbio.com
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