Episode 5: Executive in Residence 6-Month Update with Key Opinion Leader Elaine Hamm

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Hey everyone, welcome back to Bio from the Bayou. Today's guest is Dr. Elaine Hamm, and I am one of your hosts, James Zanewicz. Elaine is the CEO of Ascend Bioventures and the executive in residence at the Tulane University School of Medicine. She is also now firmly establishing herself as our most frequent podcast guest. Elaine, welcome back to the podcast.

Thank you. So great to be back. And I mean, how great is it if my job is to talk to you? I mean, that's incredible. And I hope that like after 5 times of being a guest, I get like a jacket or something.

We could probably do that. I like, I like this plan.

Swag. Like SNL hosts.

Yeah. Bio from the Bayou swag. I think we're coming up with a theme in our scheme to get rich or poorer, as no one buys it.

Or poorer, actually. Yeah.

All right. Well, I think people are not here to listen to us banter, but to hear more insights from you. So let me get rolling. So Elaine, we are at the half-year mark of your executive-in-residence role at Tulane. So it seemed like a really good time to check in for an update. How has your role evolved over the beginning 6 months at Tulane?

Oh man, you know, at the beginning my focus was really to understand the science and the opportunities at Tulane and kind of figuring out where I can be of most help. And I was really surprised to see all the many avenues that mindset has really taken me. There's so much more opportunity opportunity to engage with industry beyond just the simple licensing of assets. And, you know, that's been a lot to unpack. And so I find that it is a role that is constantly changing more than anything. So, you know, one day I am helping the scientists find access to a drug for them to be able to do research with it, and then the next I'm connecting another scientist to a CRO that can help them do their pharmacokinetic studies. And, and then helping like 2-lane startups find regulatory consultants too. So it's varied and interesting, and it's been really exciting. But I think the other thing that's a little bit, you know, that has evolved in my role is really that I went from kind of hyper-focused on business development to better integrating with the communications team that you guys have as well. So, but, you know, I think the common issue is that scientists tend to forget that good science is nothing if Nobody hears it, so.

It's really true, and it's interesting that you say that, as just last week I was at the Milken Institute Future of Healthcare Conference in DC, and one of the Milken Institute directors had a phrase in one of their kind of opening keynotes that described, I feel, what you just said and what we do as an operation at Tulane perfectly, and it was the importance of scientific discovery and communication. And the big thing they were saying was exactly what you said. It's great to do science, but if you don't make it understandable for people, at all levels, which is whether you're focused on business development or the public or healthcare providers or whatever it is, that you need to make your science accessible in multiple avenues of communication. And I think it's one of the things that you help us do so well. So in the spirit of communication, what have you learned about Tulane and the research being conducted here since you started working with us?

Oh man, that there's really more than MECI. I mean, if you go by publications and non-confidential abstracts and the Googles, you know that there's really good science, but you really have to start talking to researchers and getting to know their data and frankly what makes them excited. You begin to really understand the potential of their work when you really start to understand their why. And I think the other thing is, is the really what's been fun for me has been understanding what makes Tulane incredibly unique. And that has been— I would have never expected that we would be meeting with the USDA, that there's a center just literally down the street and the potential collaboration that we have there. The National Primate Center and the opportunities and the research that's going on there. And then what's— What gets me really jazzed, and mainly it's just because I'm secretly a fat kid and love to eat, is that y'all have culinary medicine. I don't think I've ever seen that in a school of medicine and never had the opportunity to go to an actual classroom department that's located next to Whole Foods. And that was just— and that was honestly luck. That was a fun meeting in general. But the vision that, you know, they have for that and the good that they're doing, not just for future medical professionals, but also the community, is really, really exciting. I mean, they have a curriculum and an output that frankly should be at every school of medicine.

Yeah, and I think as you've learned in your time with us, that many other school of medicines have licensed that curriculum and program from Tulane.

Yeah.

And it's interesting, again, at my Future of Healthcare conference last week, one of the largest topics was food as medicine and the importance of not just the scientific or health benefits, but also looking at access points and how we have to partner with our social work programs and our public health programs to figure out It's great to tell people, here's how you should eat, but there's that whole host of other issues of which you're aware, like access and what it means, which is not just, do you have a grocery store, but do you know how to cook the food? Do you have the capability of preparing the food? Those kinds of things and methods of storing it. All those things are so important.

Yeah, absolutely. And that was such an interesting thing to learn about of how they really try to integrate across beyond just the School of Medicine, but to the community.

Yeah.

Well, and as we kind of bring it back to the School of Medicine and cool things going on here, are there any specific projects going on that you're particularly jazzed about? about that make you play in this space?

I mean, immediately I think of the Tvent adjuvant that Dr. Lisa Maricci and James McLaughlin have created. I think, you know, and honestly, I think it's also a perfect example of the role of an executive in residence or an entrepreneur in residence, because I knew their science and their publications. And actually, Lisa and James are those incredible academic scientists that also know how to really communicate their science very well. I mean, people sit up when they start speaking, but In getting to roll up my sleeves and really examine, you know, the body of their work with an industry lens, you realize a number of different things. And first and foremost, it was just the incredible amount of safety data and efficacy data. And they didn't have it just in mice, but they had it in higher-level animals, which I think is a big distinction that you don't often see when you work with academic scientists. They had primates. They also had plans to do GLP studies with rabbits, and that's, that's, that's very rare. The other piece was that they had this manufacturing partner that is able to make their product with high level of purity, stability, and frankly, inexpensively. When I started crunching the numbers of, you know, how much it costs to make, you know, a certain amount, the COGS are fantastic and really adds to the value proposition of what their, their science is doing. And then I think that when you start to really dig into it, you have an understanding that it's not just a potential product, Yeah. You know, where you have a vaccine-vaccine adjuvant combo, but it's also that their technology is an enabling technology, and that, you know, they have the ability to make other people's products better, you know, and by better, it can be safer. So maybe you don't have to dose as much, you can lower the amount of antigen that you have in your product, you don't have to give as many boosters, or perhaps it just makes it a little cheaper to make as well. And the enabling technology versus a product really is important to distinguish. Because it changes who you pitch to. So when you're talking to large pharma, you would think vaccine adjuvant, you would talk to infectious disease, but you might also talk to the enabling technology division too, which a lot of pharmaceutical companies have. So I could go on and on about this, honestly. Like, I mean, they have, you know, biodefense potential. They have these incredible contracts with DITRA in place. And I think that that is incredibly appealing. Just from the large potential there. Really, what they just needed help with was branding. And that is something that I tend to forget myself. I mean, everything was there. It just needed to be packaged a little bit differently for industry. So I think that—

Can you talk a little bit about the reason you made that switch?

Yeah. Well, frankly, people have their biases in the industry. And as it relates to vaccine and vaccine adjuvants and microbiology, they were working on outer membrane vesicles or OMVs, And people, you know, whether it's right or wrong, they just have an opinion when they hear outer membrane vesicles. And so it was literally just calling it something different because there's actually like other products out there on the market that are OMVs. And so there's no reason for it per se. So we, you know, called it T-Vant because it's able to activate both arms of the immune system and really get T cells activated. So, and that's a really important part for vaccines. And so just literally calling it T-Vant. was a big game changer. And, you know, creating the package that we could, you know, give to James and Lisa as they went to a conference was, I think, really, really helpful in finding the right home, the right collaborations, and really just letting the passionate scientists do their thing.

That's fantastic. And so, you know, we were able to create that new brand, which you came up with and even did the graphic yourself. I know, which is not necessarily my But then we sent them off to a conference. Can you talk a bit about kind of what their experience was there and what the outcomes of that have been?

Yeah. I mean, fortunately, like, Lisa and James are incredible scientists to work with because, you know, you can send them off to a conference and they're going to do a great job at reaching out to people and talking to people and really kind of pitching, frankly. And, you know, you and I go to big conferences, we go to JPMorgan and we go to BIO and we do our thing. You know, really finding a more niche conference, I think, was really important. I mean, you found the World Vaccine Congress and you managed to convince James that it was really important for him to go to this.

And it wasn't hard because it was in Barcelona.

I mean, it does help.

Yeah.

I mean, yeah, that definitely helps the bribery process for sure. But I think it was just really, I mean, him giving a talk that automatically gets you know, is marketing in a great sort of way. But then we made him do partnering and we made it easy for him to do partnering too, because we prepared, we, you know, we found the people he should meet with. We set up the meetings and we prepared a partnering packet for him of like, hey, these are the questions you need to ask and, you know, here's what you should end with. And I think it went really well. And now we're, I mean, I joined in June and here we are already in licensing discussions, which I think is really exciting.

So it's incredible speed. It's kind of amazing. And so we've talked a bit about TVANT. Are there any other projects you could just even just mention kind of what they are? Because we're dropping this podcast at JPM. We want people to know what's hot, what's new out of Tulane. Anything else you could just talk about a little bit?

The thing that I, you know, in looking back over the past 6 months, which isn't really that long a time, but we've done quite a bit. I wouldn't, you know, I had a blast doing Bio on the Bayou. I think that conference in particular is an incredible example of like what needs to be done for science that isn't on the coast. I mean, we, we have to shine a ginormous spotlight on, on it, frankly, and because it's an overlooked potential and a really under, you know, untapped market, you know, and from an industry perspective, it was really fantastic to be able to see my industry colleagues in a smaller, more intimate setting. I mean, when you go to BIO, you barely have a chance to catch your breath and catch up with people, and there's so many people to catch up with too. So it's a lot. But being able to sit down with venture capitalists and pharma and angel investors at a really more intimate cocktail reception in New Orleans without that, frankly, chaos of a larger conference was really amazing and rewarding for me being in industry. I honestly, like, where else are you going to be able to sit on the balcony with the BD folks from Elanco and Merck and then shouting directions to other attendees like where, what jazz club they needed to go to next. So I mean, that was— I think you could only get that at something like BIO on the Bayou, frankly. But going back to that uniqueness, you know, you asked about earlier, from a Tulane perspective, it was really great to see what we could accomplish when we all work together. It's really unique that LSU, Tulane, or LSU Health and Tulane and Kentucky and Mississippi and Xavier were all working together to make this conference happen. That really is unique. I mean, you don't see that a lot, but, you know, either in the Midwest or in the Gulf South region. And I love that everyone is invested in making this a hub and not just a whole bunch of silos where great science happens.

One question that I didn't prep you for, Elaine, but I would like to throw in just for your off-the-top-of-the-head comment, because I love to do that once in a while. Last time we did this podcast, you were actually in residence because you come in residence once a quarter for a week or so, but most of the time you're in residence is done remotely. How are you making that work? And how does that work for you? Because obviously, your role has been very effective. And I think it would be interesting for people to hear about that.

Yeah, it is a little bit of a weird thing when you're like, I'm the executive in residence, but I'm not in residence. But, you know, after the pandemic, I think that changed the rules of the game of what really in residence really means. I mean, we're all used to living in a more connected society now. I mean, we have scientists that are used to Zoom, and that honestly, 5 years ago, I could— that would've been just Oh God, no. I mean, they would be like, Zoom? What? No, you can call me. Just email me instead. But now, I mean, it's— we have all of these great ways to be connected. And, you know, I kind of create these office hours with systems like Calendly. I'm able to just say, hey, just if you want to chat with me, just, you know, you don't have to get up from your desk and find, you know, walk down the hall and find me. Just throw up a, you know, a meeting invite on my calendar and let's chat. Let's have office hours. I'd love— if you have a quick question and you need a face-to-face, I make it really easy for them to do that. And so I hope— my goal is that even though I'm not always in residence, that people feel like I am because I'm not, I'm not far away in the sense of being able to talk.

That's a perfect, perfect answer.

I love that.

So as we're winding down, is there anything I haven't asked you that people should know?

Maybe the date for next year's Bio on the Bayou, which is October 3rd and 4th. 2023.

Oh, perfect.

A lot of fun. So, and yeah, it's going to be a lot of fun. And people can get more on a balcony.

Oh, definitely. And people can get more info about that on bioonthebayou.com.

Perfect. I love it.

Well, thanks so much, Elaine. As always, we love having you on, and I'm sure we'll do it again many times soon because, you know, it gives you and I a chance to hang out and chat, which we love to do.

And I want that jacket, you know, of, you know, right?

So, what is that, 2 more and you get your jacket? I think you're almost there.

I think it's 5. Yeah, totally 5.

So, yeah, we look forward to more about what you're doing as your executive-in-residence role and seeing how that progresses. We'll probably check in again in 3 or 6 months on that because it's just perfect timing for BIO for our next big drive.

No pressure.

I don't have a non-compete agreement like that. No pressure, but new stuff by then. And for all of our listeners, we'll have your contact info and some relevant links posted in our show notes. You can learn more about Elaine, about Ascend Bioventures, about Tulane School of Medicine, our operations and business development, and our communications team, all that kind of good stuff. You can check them out and learn more about Elaine's activities and Tulane's activities in our show notes. And Elaine, before we leave, is there any last thing you want to say?

I just have really enjoyed— this is one of the, one of the most favorite things I've done in my career, to be quite honest. I mean, this executive-in-residence role has been It's been an absolute blast, and I can't wait to see how it changes and grows. And I hope that others hear the potential and consider doing something similar.

Perfect. And thanks to everyone for listening to Bio from the Bayou, the podcast. And if you're at JPM and listening to this, you can find us around and about. Feel free to reach out to myself directly. We'll have my mobile, my info, all that good stuff in the show notes. And I'll be happy to meet with you and talk more about anything that Elaine has talked about on this podcast and then put you in touch with her because she's much smarter than me.

But they at least get to have cocktails with you.

Exactly. I mean, I'll buy the drinks and you do the science. It always works out.

Perfect. Love it.

Thanks for joining us for Bio from the Bayou, and we hope you'll join us again.

If you'd like to learn more about the emerging biotech scene in New Orleans, in the Gulf Coast region, visit us at biofromthebayou.com, where we have more info on who we are, how to get involved and connected in biotech in New Orleans, and the industry events we'll be hosting where you can meet with us in person.

And we'd be remiss if we didn't give a special thanks to the Accelerator Network for providing funding for this podcast. Learn more about them in our show notes.

We'll catch you on our next episode of Bio from the Bayou.