Learnings Of Founding A $50M/Year Pharmaceutical Commercialising Company
Hello, I am Raman Singh and I am the founder and CEO of Juniper Biologics. Globally headquartered in Singapore, Juniper Biologics is a science-led specialty healthcare company focused on commercializing novel therapies. We bring innovative medical treatments to patients around the world in the areas of oncology and oncology supportive care, rare/orphan diseases, and gene therapy. Our mission is to make the most difference and provide patients with accessibility to the next generation of treatments.
Our flagship product is Akynzeo, available in oral and IV, which is used in adult cancer patients to ease the side effects of chemotherapy-induced nausea and vomiting. The current medicines on the market have a three-day timeframe to be effective, whereas our medicine reduces that to just one day.
Another product soon to be launched is Ledaga, which is part of our oncology portfolio. It is a topical gel treatment for people suffering from MF-CTCL, the most common cutaneous T-cell lymphoma. It is often mistaken for eczema or psoriasis. We have secured the licensing and marketing authorization to promote and sell it in Australia, Southeast Asia, and the Middle East.
I launched the company in 2021 and the company is growing from strength to strength. We recently concluded a USD$600 million acquisition for the licensing rights to develop and commercialize TG-C LD, the world’s first cell-mediated gene therapy for the treatment of knee osteoarthritis. We plan to make this treatment available to an estimated 300 million patients in the Asia Pacific, the Middle East, and Africa. We want to continue expanding globally, identifying new areas where we can make a difference, and bringing our treatments to people in all corners of the globe.
Since our launch, we have grown exponentially, reaching yearly sales figures of USD 50 million. We are excited about the progress we have already made and the success that we have had with our growing number of acquisitions!
Be bold, dream big, and never, never, never give up.
What's your backstory and how did you come up with the idea?
I have been very fortunate in that I have always been in the healthcare industry working across several roles and geographies. Before Juniper Biologics, I was the CEO of Mundipharma, a multinational research-based pharmaceutical company. I ran its operations in the Asia Pacific, and Latin America, as well as the Middle East and Africa. I was also in charge of the company’s global consumer healthcare business.
The COVID-19 pandemic reinforced my desire in me to help via the pharmaceutical industry. I spearheaded research and development efforts to investigate how consumer products could help Singapore and other countries manage the spread of the virus. Laboratory tests with Duke-NUS and other labs worldwide were initiated to prove that certain Betadine products (under the Mundipharma portfolio) could kill the COVID-19 virus, which it can in 15 and 30 seconds.
Before I joined Mundipharma in 2011, I was the vice president of commercial operations at GSK, and I was the regional director for Australia and New Zealand at AbbVie. Having worked in various regions and seeing the impact that my actions had spurred the “ah ha moment” that pushed me to found Juniper Biologics. I wanted to continue seeing the impact I could make on lives around the world, by providing innovative medications and treatment options to people who were suffering and otherwise would not have had any access.
Take us through designing, prototyping, and manufacturing your first product.
At Juniper Biologics, we don’t design, prototype, or manufacture medicines and treatments, rather we commercialize them for the market. In the pharmaceutical industry, this requires several steps and can be a lengthy and complex process that takes substantial time and resources.
The process of bringing a medicine to market begins with registering the product with the relevant drug regulatory authorities. This must be done in each country, as they each have different registration requirements, timelines, and processes. To do this, we work closely with local regulatory experts who are familiar with the market and able to collaborate with the drug authorities.
We find building these connections invaluable because our Regulatory Affairs team will work with our partners to complete the registration dossier in the format that suits the local requirements. To break it down, this mainly consists of quality, safety, and efficacy data of the product. Regulatory Affairs will also develop the right regulatory strategy to submit the product application via the most appropriate registration pathway. After the submission, Regulatory Affairs will continue to work with our partners and the regulatory authority for any queries/requests raised until the product is approved.
The entire drug registration approval timeline varies across markets, and it can sometimes take as long as 10 years in certain countries! During this time, our Commercial and Medical Affairs teams will begin preparing pre-launch activities to spread awareness among healthcare providers. This often includes collaborating with Key Opinion Leaders and Advisory Boards to support commercialization, giving presentations at medical conferences and healthcare institutions, and engaging in discussions with individual healthcare professionals.
While the drug may not be commercialized in the country before registration approval, pre-approval tracks such as Early Access Programs are allowed in certain countries. When this is the case, we can offer our innovative medicines to patients living with serious conditions, for which there are no other satisfactory treatment options.
Once registration is officially approved, the drug may then be officially imported to the country and commercialized. From there, we liaise with the manufacturing site and our internal supply chain on the timelines for the manufacturing, batch release, transportation, and delivery of the product so that they are in line with local importation regulations and Good Distribution Practices.
Describe the process of launching the business.
Juniper Biologics was born after identifying specific unmet patient needs - oncology and oncology support care from the pharma perspective, gene therapy due to aging populations, and rare diseases. Pharma companies focus on the multi-millions, instead of the hundreds or thousands of patients, which is usually the case with rare diseases. This is not a surprise, it simply makes business sense for them. However, I believe that everyone deserves access to treatments to improve the quality of their life.
My next step was looking at next-generation medicines. To acquire the medicines, I realized we needed strong backers. By actively promoting the business and sharing our business plan I began seeing significant interest. The Sylvan Group, an investment company that focuses heavily on ESG and supporting businesses that have a positive value for the society and environment that is aligned with the United Nations Sustainable Development Goals, was the first to start backing Juniper. We have worked very closely with the Sylvan Group and have had a lot of support from them. We are seeing other investors interested in backing Juniper Biologics and we look forward to announcing these in due course.
In terms of operations, Juniper started quite modestly. I started the acquisition process in December 2021 and quickly grew the company. Within 12 months, Juniper has close to 100 employees in eight offices. As of today, there have been six key acquisitions with more on the way!
Since launch, what has worked to attract and retain customers?
Since the launch of Juniper Biologics, we have attracted healthcare professionals (HCPs) through a multi-prong approach. The first is sales. We focus on accelerating sales through a market share focus. This is a similar strategy to on-demand grocery delivery companies or software service providers, who try to get as many customers as possible with affordable prices to gain a large market share in a short period, which will then, once having solidified their position, help them become profitable. We, however, acquire medication licenses and try to gain market share for a particular medication.
The second is a reimbursement strategy. We work to attract and retain healthcare professionals through reimbursements if they focus on identifying and treating patients with unmet needs across Southeast Asia. We also have an agile and customer-centric team and can provide customized solutions to our customers through digital ways of communication such as webinars, and in-services via Zoom and Microsoft Teams.
Thirdly, we emphasize visibility. That is why we are Platinum Sponsors of the 2023 International Breast Congress in Singapore. There will be several influential members of the scientific and healthcare community, and to be associated with such an event shows both our dedication and puts us in front of new connections. We also sponsored the Excellence in Oncology Care event in Dubai.
Adding onto the above, we focus strongly on our public image. We work hard on our branding, social media channels, media interviews, event attendance and sponsorship, and speaking on event panels. We have partnered with a PR agency that is our go-to for communication purposes and advises on how best to message and position ourselves.
We have made a point to be on every relevant social media channel because as a global company we want to be accessible to everyone regardless of their location or preference. I find it imperative to ensure that if a healthcare professional comes across us online, or hears me speak at an event, they see Juniper Biologics as a reputable company.
Particularly on social media, we make a point to talk about who we are hiring and how fast we are growing. We document every bit of company news. We want to let people know that Juniper Biologics is who they should be working for and following!
And at any point we are happy to talk about how we want to improve accessibility to medications and treatments:
I want to be as transparent as possible and talk about the medications that we are commercializing, as well as the people behind the company. I have found that it’s important for a company that can be so overwhelmingly scientific to show the faces of the people working behind the scenes. This approach helps us to humanize an otherwise aloof industry.
We want to attract partners by showing them why they should want to work with us and be inspired by our dedication to providing treatments for unmet needs. I have found that this is an extremely successful strategy in both attracting and retaining customers, regardless of the business or industry.
How are you doing today and what does the future look like?
As of today, Juniper Biologics is profitable. As I previously mentioned, we recently closed a USD$600 million acquisition for the licensing rights to develop and commercialize TG-C LD, the world’s first cell-mediated gene therapy for the treatment of knee osteoarthritis. In the last 12 months, we have inked six licensing agreements. Just this year, we also added Aloxi, Akynzeo, and Anamorelin to our oncology supportive care portfolio, which is an area that has a strong unmet need globally. We are also currently in advanced negotiations to add to these critical therapy areas, which we will be announcing in the coming weeks. It’s a very exciting time for us.
We will also soon launch Ledaga, a topical gel treatment for people suffering from MF-CTCL, the most common cutaneous T-cell lymphoma. We have secured the licensing and marketing authorization to promote and sell it in Australia, Southeast Asia, and the Middle East.
Additionally, we have opened offices in several key markets, and we have plans to open several more throughout the Asia Pacific region. So, in the short term, the expansion of our footprint is very much at the forefront of my mind. I aim to cover as much of the world as possible and to ensure patients have access to the medications they need.
Through starting the business, have you learned anything particularly helpful or advantageous?
Through starting Juniper Biologics, I’ve learned that the success of a business comes down to hard work and never giving up. It is essential to assemble a strong team, align on objectives, practice flawless execution, and be ruthless in measuring performance.
I’ve also learned that the success of your business can be boiled down to your networking skills and connections. Regardless of the ‘what’, there will always be a human focus in business, and you need to be able to use that focus to your advantage. It makes a difference when you keep reaching out to your network and keep those connections warm, and in the end, it resulted in building good partnerships, such as those we have built with our licensing partners, Helsinn and Kolon.
On that note, it is also extremely helpful to build good partnerships, be it with service agencies or regulatory departments in your industry, etc. Particularly with service agencies, for example, PR or marketing agencies, it is highly advantageous to outsource. I’ve found that you will get better results and ultimately be more successful if you don’t try to do everything yourself, and instead use subject matter experts. While it can be pricey at times, I’ve found that the ROI supports my decision.
Another thing I learned early on is that you need to try to prepare for every possible scenario. That is why I try to stay focused on our company ethos. I have made it a habit to remind myself every morning of the single most important thing - to ensure access to medicines for patients that need them most.
What platform/tools do you use for your business?
The main tool I use for my business is LinkedIn! It is an invaluable tool to stay connected with my international network, and to find new people, be they distributors, licensers, staff, or even scientists.
A second tool we use is MIM Software online platform. MIM offers remote access solutions for our healthcare professionals across Southeast Asia. We also use it to help standardize our workflow processes and to identify where we can improve patient care. For finances, we use ESKER to process all of our digital payments. We found it works very well for cross-border transactions.
Lastly, as with a lot of companies since Covid, we use Microsoft Teams and Zoom to connect with people globally.
What have been the most influential books, podcasts, or other resources?
Without a doubt, the most influential books for my personal and business development have been the books written by Lee Kuan Yew, the first premier of Singapore. One in particular that has been immensely influential is From Third World to First: The Singapore Story: 1965-2000.
Lee Kuan Yew was a visionary leader who made Singapore what it is today. Just imagine that before the 1960s, Singapore was a swampy British trading post whose inhabitants focused mainly on fishing. Compare that to the invigorating, mind-altering, and innovative bustle of the metropolis that Singapore is today, and you will understand what I mean. Within a single human lifetime, Singapore has developed into a leading country in many regards, from the ease of doing business to education and more.
Reading about Lee Kuan Yew's vision for this island I call home has deeply impacted me. It has also taught me how important it is to have a mission and how to put in the hard work to achieve it. I take the learnings from what Lee Kuan Yew did on the country level and apply them to my business whenever I can. Every time I re-read any of his books, I find new inspiration on how to pursue the goals I have set for myself.
Advice for other entrepreneurs who want to get started or are just starting out?
Regardless of what industry you are in, setting up and running a business is tough.
Being a founder is the opposite of a 9-to-5 job, there are long hours, and the business is your life. So then why do people do it?! Because the reward of seeing your vision become a reality is the greatest satisfaction. My biggest piece of advice is to always be bold, dream big, and never, never, never give up.
To be able to keep achieving though, you need to build a good team. Find strong partners that complement your DNA. It is important to nurture your relationship with your customers, they are the ones that will remind you in tough times why you are building your business. People should always come first.
I’ve seen many talented individuals with great ideas come and go because they haven’t put in the hard work that is needed. I’ve also found that the most successful people have built steadfast habits from the very beginning. They’ve made checking in with their teams or customers and learning about new market trends or new technologies a habit. If you make these things part of your routine, then you will never let them fall by the wayside. If you don’t take the time to see what else is happening in the world, then you will fall behind. If you don’t make it a habit to check in with your employees or customers, you will lose touch with what they need from you. So, always keep learning and build it in as an unshakeable practice, then you will not fail!
Are you looking to hire for certain positions right now?
We are always looking for new people to join our team who have experience in the fields of healthcare, pharma, or regulatory affairs! We are a global company, and we are currently expanding our teams in Asia, Japan, Korea, New Zealand, the Middle East, and Africa. Keep an eye on our website for upcoming positions, or feel free to get in touch directly at [email protected].
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
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