NED Candidates

Key NED skills in demand by Boards 2010 and beyond

Given the turbulent nature of the early stage and SME biotech market over the last two years, Boards are very clear about the expertise which they expect from NEDs and Executive Chairman. Quite simply an advisor must have a skill set which is relevant in the current conditions in order to add value and strengthen an organisation's armoury for survival.

The top five of these are:

• Commercial aptitude and relationships: a contact list in mid-capped and corporate organisations which will facilitate discussions with key decision makers about potential collaborations and deals is critical for any small or early stage company
• Fund raising and cash management: reach to and a network of significant investor contacts cannot be overstated in the current and foreseeable market conditions; along with experience of making the cash stretch
• Leadership and turnaround experience: the ability to help a Board to concentrate on relevant assets and goals; ensuring the leadership team is fit and pertinent to the task in hand; cash management; and aligning the company focus in order to reach its exit
• Scientific due-diligence: support from scientific experts to help assess a range of assets which should be the focal point for the organisation
• Coaching: spending time with less experienced Board members to support their development and address steep learning curves in an unrelenting market

Case study material demonstrating your expertise in any one of these areas will create interest with prospective Chairmen and CEOs.

We're keen to hear from both experienced NEDs, who have capacity for a new role, and seasoned executives ready to develop a portfolio career. Given our focus on bioscience companies, you will offer an in-depth understanding and passion for the sector.

What makes a successful NED?

• A skill set which includes the ability to challenge, advise, steer and coach
• Based on your substantial experience, the pragmatism to assess the needs of the organisation and the influence to help shape the strategy and outcomes of young/SME businesses
• Interest in being part of an organisation, developing innovative technology or pushing the boundaries of science
• A visionary who will encourage strategic focus and review
• A substantial array of industry and investor contacts
• Experience of managing the investor interface
• Able to build sustainable value into an organisation leading to successful exit for all shareholders

New and aspiring NEDs
Have you reached the point where a portfolio career is a natural progression for your significant talents? You will also be aware that the role of any Board member, Executive or Non-Executive, is under more scrutiny than ever before.

Although Bioscience NEDs can talk about the sector, we would encourage you to consider joining a well respected networking organisation, such as the FT Non-Executive Directors' Club, which offers invaluable information for NEDs, as well as networking events and workshops.

We look forward to hearing from you. Get in touch