Innovation Report

 
report Invest in Basel region

"We will not shy away from taking risks"

05.06.2018

In 2016, Roivant Sciences established their global headquarters in Basel. Roivant founder and CEO Vivek Ramaswamy talked to us about his fast growing company, his priorities for the company and about the role that Roivant aims to play in the Basel life sciences ecosystem.

BaselArea.swiss: You built a company from scratch. What are the crucial ingredients?

Vivek Ramaswamy: In biotech you need three main ingredients to build a great company: good drugs, good people, and sufficient capital. Of course, it is difficult to know which drugs will succeed or fail in advance of conducting clinical research so I started Roivant with the vision of having a broad portfolio—a company whose success would be measured by the number and the quality of the medicines that we deliver to market, but at the same time a company that would not be defined by the success or failure of any given drug. It is my belief that the long term success of the company will be driven by the quality of our people and our cultural principles which include a singular focus on value creation and a commitment to innovation throughout all aspects of our business. This is an expensive and risky industry where you have to invest heavily before you know the eventual result and I am very grateful for the backing of our investors. But at the end of the day, the money we’ve raised is not an accomplishment, it is just an ingredient.

Roivant has grown rapidly. How do you maintain an entrepreneurial spirit within the company?

Maintaining an entrepreneurial mindset is core to our model. Our company is based on the principle that smaller tends to be better which is why we did not organize Roivant as a single, centralized, command-and-control operation. Instead we scale our business through the creation of wholly- or majority-owned subsidiary companies, which we call “Vants.” We now have over 600 employees across our family of companies, and it is fair to say that preserving that initial entrepreneurial mindset is one of my main priorities going forward.

How free are the Vants in finding their own version of entrepreneurial spirit?

Think of Roivant as a parent that contributes DNA to each of our Vants. We also carefully select leaders who contribute their own DNA. Each Vant resembles Roivant heavily but also has its own unique genotype. There are common cultural principles, but there are also important distinctive features and we see that heterogeneity as a comparative advantage.

How do you cope with failure?

We are fortunate that relatively early in our history we have experienced both success and failure. We would not be doing our job if we had only a string of successes insomuch as that would indicate we are not taking sufficient risk to benefit patients. We cope with failure in three ways. First, we acknowledge it as a necessary consequence of our broader strategy. Second, we build a diverse portfolio rather than predicate the success of our business on any single drug. Finally, we own our failures openly and use them as an opportunity to learn. When our drug for Alzheimer’s disease intepirdine failed in phase III, we did not obfuscate or sugarcoat the news. But we also did not overreact and we will not shy away in the future from taking risks in similar areas of significant unmet need. Instead we will embrace the risk of failure as we make calculated decisions across all therapeutic areas.

You chose Basel for setting up your global headquarters. Which aspects did you find most convincing about the location?

It starts with the talent. We believe in diversity of talent and we recruit from both within and beyond pharma. Basel is emblematic in that sense because it brings together a very diverse talent pool from multiple countries and cultures, speaking different languages with varied experiences and educational backgrounds. That mixture makes for a warm, welcoming, and innovative environment which mirrors the culture we seek to build internally at Roivant. At the same time, the legacy of successful pharmaceutical products being developed here makes Basel a place where we wanted to plant a seed early in the life of our company. In addition to the large multinational companies for which Basel is best known there is also a strong scene of young and vibrant companies building on that tradition, and we hope to be at the center of that.

How did Roivant accommodate in Basel for the time being – were your expectations met?

Yes, except in one aspect: Basel does not seem to believe in air conditioning! Joking aside, our expectations were in many ways exceeded. I have found the community to be very welcoming, and we immediately felt at home here. We have been able to recruit talent very effectively, and we have engaged in positive dialogue with several companies in the area. We continue to source new asset opportunities in the region, and we are delighted with how this ecosystem has embraced us and allowed us to thrive. The partnerships we have forged in the region are crucial for us, not least with partners like BaselArea.swiss and its BaseLaunch accelerator program.

We are happy to have you. How do you contribute to the accelerator?

Our business model is to accelerate the launch of new companies in our family so it’s only logical that we would be part of BaseLaunch. We can use our expertise to help other companies accelerate their own launches and scale their businesses. We support BaseLaunch in the process of selecting new projects and we offer advice and mentorship. For us, it is a great way to signal our support for the local startup scene and develop our relationships with other companies in Basel. We are happy to be a part of that.

What are the prospects for the headquarters in Basel?

The short answer is we will grow further. All of the Vants will use Basel as a business hub to develop and maintain partnerships within Europe. We started out as a company focusing on shelved drugs. But we are also keen to accelerate drug development in other companies’ pipelines. Basel is a great place to do that with companies in Europe and its vicinity.

Interview: Annett Altvater

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Animal health manufacturer Zoetis makes Delémont its Swiss headquarters

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Die Wirtschaftsregion Basel-Jura entwickelt sich stabil

28.03.2018

Die Wirtschaftsregion Basel-Jura bietet Unternehmen ein erstklassiges Umfeld. Dies das Fazit des aktuellen Jahresberichts 2017 von BaselArea.swiss.

In ihrem Jahresbericht 2017 zeigt sich BaselArea.swiss zufrieden mit der Entwicklung der Region Basel-Jura. Zwar pendelte sich die Zahl der von der Innovationsförderung und Standortpromotion der Kantone Basel-Landschaft, Basel-Stadt und Jura betreuten Ansiedlungen nach dem Rekordjahr 2016 wieder auf Vorjahresniveau ein. Gemessen an der Anzahl der geplanten Arbeitsplätze in den kommenden drei bis fünf Jahren knüpft das Ergebnis jedoch ans 2016 an. «Dies ist angesichts der erschwerten Rahmenbedingungen ein gutes Resultat», freut sich CEO Christof Klöpper. Insbesondere habe die Ablehnung der Unternehmenssteuerreform III zu Verunsicherungen auf Kundenseite geführt.

Bezüglich geografischer Herkunft und Tätigkeitsfeld der angesiedelten Unternehmen dominierten einerseits die USA sowie die Life Sciences (inklusive Chemie). Zu den grösseren Ansiedlungen zählten: Bio-Rad (USA), die in Basel den Europäischen Hauptsitz eröffneten, Idemitsu (Japan), die in Basel ein Forschungszentrum für organische Leuchtdioden einrichteten, sowie SpiroChem, die ihren Hauptsitz von Zürich nach Basel verlegten. Zudem gelang es, die Pipeline mit neuen Ansiedlungsprojekten zu füllen: So besuchten im vergangenen Jahr 90 Firmen im Rahmen einer Standortevaluation die Region.

Mehr Unternehmertum

Positiv entwickelten sich die Unternehmensgründungen in der Region Basel-Jura. So verzeichnete BaselArea.swiss eine erhöhte Nachfrage nach Dienstleistungen im Bereich Supporting Entrepreneurs und konnte mehr als 60 Neugründungen und Start-ups unterstützen. Die von BaselArea.swiss organisierten Veranstaltungen, Seminare und Workshops brachten über 5500 Teilnehmende zu Innovationsthemen zusammen, was ebenfalls ein deutliches Plus gegenüber dem Vorjahr darstellt.

BaselArea.swiss gelang es im Jahr 2017 eine Reihe von Aktivitäten in neuen, für die Region wichtigen Innovationsthemen anzustossen. So wurden die Aktivitäten im Bereich Industrie 4.0 ausgebaut. Diese sollen im 2018 mit Partnern aus dem benachbarten Ausland innerhalb eines Interreg-Projekts weiterentwickelt werden.

Ein weiterer thematischer Schwerpunkt fokussiert auf Innovationen in der chemischen Industrie. Unter dem Namen DayOne wurde 2017 eine vielbeachtete Initiative zum Thema Precision Medicine und Digital Health lanciert.

Überaus erfolgreich erwies sich der im 2017 lancierte Healthcare Accelerator BaseLaunch. Nicht nur gelang es mit Johnson & Johnson Innovation, Novartis Venture Fund, Pfizer und Roche sowie Roivant Sciences die Unterstützung von fünf Industrieschwergewichten für den Accelerator zu gewinnen. Auch am Markt wurde BaseLaunch gut aufgenommen: Über 100 Bewerbungen von Start-up-Projekten aus mehr als 30 Ländern gingen bei BaselArea.swiss ein. Sechs Start-up-Firmen werden nun in der Region Basel-Jura gegründet und während eines Jahres beim Firmenaufbau mit bis zu 250'000 Franken sowie Infrastrukturleistungen im Switzerland Innovation Park Basel Area unterstützt.

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Chinese Pharma Goes Global

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BaselArea.swiss welcomes BeiGene to Basel

20.09.2018

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Meet the BaseLaunch Startups

11.03.2018

Six of the BaseLaunch startups recently started Phase II. They received either grants up to 250,000 Swiss francs or gained free of charge access to BaseLaunch laboratory and office space at the Switzerland Innovation Park Basel Area. Hear what the startups, the BaseLaunch team and selection committee members experienced in the first year. Find out more about what makes BaseLaunch unique.

The BaseLaunch accelerator is now open for applications for the second cycle. Entrepreneurs with a healthcare based project or a game-changing innovation in diagnostics, medtech or related field at the pre-seed or seed funding stage are invited to submit their applications to the program.

Following the application deadline on 14 May, promising projects will be admitted to the accelerator program for a period of 15 months. In phase I, the startups will benefit from the support of industry experts, office- and laboratory space free of charge and access to healthcare partners. After three months, they will be invited to present their idea to the selection committee. They will determine which promising startups will proceed to Phase II that runs for one year.

BaseLaunch is backed by five industry leaders — Johnson & Johnson Innovation, Novartis Venture Fund, Pfizer, Roche and Roivant Sciences. Other public and private partners such as KPMG and Vossius & Partner also support the initiative.

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At a glance: The Life Sciences Cluster Basel Region

17.09.2018

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Speedboat Meets Supertanker

02.07.2018

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Spirochem opens new state-­of-­the-­art Services and R&D facilities in Basel

29.09.2017

Basel – The fine chemicals company SpiroChem has relocated to state-of-the-art facilities in the Rosental area of Basel, offering the company an ideal location to significantly expand its operations. SpiroChem has also strengthened its board of directors.

SpiroChem is a spin-off of the Federal Institute of Technology (ETH) in Zurich, where it was also located until recently. According to a statement, the company is now fully operational at its new facilities in Basel.  

“We are excited to announce our move to state-of-the-art facilities in Basel. Our new set-up is ideal for interaction and collaborations with large and small organisations, providing flexibility and speed to solve problems, allowing our clients to focus on effectively designing the drugs of tomorrow,” said CEO Thomas Fessard.

SpiroChem offers new molecules, which are used in the R&D of new medications, and it is now a world leader in this industry, developing innovative solutions for the biotech and pharmaceutical sectors.

“SpiroChem intends to become a key player in Basel’s vibrant, innovation-driven, life science scene, supporting our ambition to increase our portfolio of clients and recruit talented employees to join our growing, cutting-edge company,” said Fessard.

In anticipation of the upcoming growth path, SpiroChem has also strengthened its board of directors with the appointment of Anthony Baxter, who has extensive experience in the pharmaceutical industry.

“His industry experience and network will be invaluable as we continue to grow our portfolio of small, medium, and large pharmaceutical, agrochemical and life science clients worldwide,” added Fessard.

report Invest in Basel region

Abberior Instruments GmbH opens subsidiary in Basel

14.05.2018

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Roivant launches new subsidiary in Basel

12.04.2018

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Roivant is creating a buzz in Basel

13.06.2017

Roivant Sciences, a fast-growing life sciences company from the US, recently opened its global headquarters in Basel. In celebration of their newly established location, Roivant, together with BaselArea.swiss, invited stakeholders from the life sciences sector to “Halle 7, Gundeldingerfeld” in Basel on June 8th 2017 for a panel discussion on the future of healthcare.

More than 150 guests were interested in hearing this success story first-hand from Roivant Sciences’ founder and CEO, Vivek Ramaswamy. Ramaswamy, a member of the renowned “Forbes 30 Under 30” list and also named a “prodigy” by Forbes magazine for the biggest biotech IPO in US history, gave a trenchant keynote speech before being joined by a panel of experts from Basel’s pharma and biotech industry.

Ramaswamy explained his mission: “We concentrate on promising science and passionate people to systematically reduce the time, cost and risk of bringing new medicines to market”, he said. Roivant Sciences buys and develops drugs that are shelved by other large pharmaceutical companies, and that are stuck in the middle of the drug development traffic within the organization. Ramaswamy’s mission is to create an “alternative highway” by bringing together top talent in drug development and other industries and focus on those assets within lean and dynamic structures. Ramaswamy is certain that data will make the difference in bringing drugs speedily to market.

Roivant Sciences is the umbrella company of five (and the number growing!) late-stage biopharma companies in different therapeutic areas: Axovant tackles dementia, Dermavant deals with dermatology, Myovant focuses on women’s health, Urovant concentrates on urology and Enzyvant develops therapies for patients with rare diseases. All Roivant-family companies can tap into standard capabilities built at Roivant, while each company can develop capabilities of their own to address their specific market requirements.

Settling in Basel without red tape

In his speech, Ramaswamy also made a case for Basel as a headquarters location: “Different nationalities are coming together in this place, three different languages are spoken on the street.” Although relatively small, Basel-Stadt and Basel-Landschaft would be “punching way above their weight”. He also mentioned the thriving biotech scene and the deep humanistic tradition in Basel. In addition, Ramaswamy thanked the Basel authorities for lowering barriers in setting up a business: “There was no red tape. They made setting up here a pleasure.”

During the subsequent panel discussion, Vas Narashimhan, Global Head of Drug Development and Chief Medical Officer at Novartis, Jonathan Knowles, Chairman of the board of directors at Immunocore Limited, David Hung, CEO of Axovant and Vivek Ramaswamy discussed the future of healthcare. Moderated by Alethia de Léon from BaseLaunch, the conversation included topics such as data collection, and critical questions about the current challenges and opportunities of the pharma industry were raised. Big data and biomarkers were some of the highlighted topics as potentially helping to address some of the R&D productivity issues the industry is currently facing. 

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Indian biotechnology firm to build plant in the Canton of Jura

12.03.2018

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Barsan Global Logistics: A global supplier in Pratteln

26.02.2018

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Companies continue to find Switzerland appealing

05.04.2017

Bern – More foreign companies relocated to Switzerland last year than in any previous year. Economic development agencies attracted innovative companies with high value creation.

According to the Conference of Cantonal Economic Affairs Directors (VDK), 265 new foreign companies relocated to Switzerland last year, creating 1,005 new jobs. In 2015, there were 264 relocations and 1,082 additional jobs.

The VDK spoke of “solid results” in the face of a difficult economic environment. Despite the strong franc and uncertainties concerning the general tax and political situation, “Switzerland could obviously hold its ground in the international arena”.

As a summary shows, life sciences was the relocations leader with 60 companies, followed by 52 companies from the ICT sector. 23 relocations each came from the trade and raw materials sector, and the engineering, electrical and metal industries. 18 of the new companies to Switzerland are active in the financial sector, and 12 work in the cleantech and greentech sectors.

This year and in the years to come, Switzerland Global Enterprise – the Economic Development Agency of the federal government and municipalities, and which is led by the national marketing steering committee (SG LM) – will focus increasingly on promoting companies in key industries. In important markets such as Germany, France, Italy, Russia, the US, Japan, India, China, the UK and Brazil, Switzerland can rely on cooperation with the Swiss Business Hubs (SBH) and the Swiss embassies.

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Zoetis relocating its Swiss office to the canton of Jura

07.02.2018

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BaseLaunch up to a solid Phase II start

30.01.2018

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