BIO from the BAYOU: Build Your Biotech Network with Key Opinion Leaders and Investors
9 Oct 2024 · 13 min
0:00
In this episode of Bio from the Bayou, hosts Elaine Hamm (Executive in Residence, Tulane University School of Medicine) and James R. Zanewicz (Chief Strategy Officer, Tulane Medicine) demystify the concept of Key Opinion Leaders (KOLs) for biotech founders and leaders. They define KOLs as experts—often scientists, clinicians, or business strategists—who influence the development and adoption of technologies, drugs, and diagnostics. The conversation walks listeners through a step‑by‑step framework: (1) how to locate potential KOLs by mining scientific literature, conference programs, SEC filings, and competitors’ advisory boards; (2) how to make warm introductions via tech‑transfer offices, LinkedIn connections, or mutual contacts; (3) best practices for outreach, emphasizing concise, paper‑referencing emails and respecting busy schedules; (4) strategies for positioning KOLs for maximum impact, such as aligning their niche communication strengths (e.g., patient‑journey storytelling) with advisory board roles, conference panels, and industry meetings like BIO; (5) the importance of building a diverse advisory board that spans clinicians, scientists, and industry experts to cover the full spectrum of a therapeutic area. They also contrast KOLs with generic “influencers,” arguing that KOLs are informers who share factual expertise rather than merely sway opinions. Throughout, they name specific individuals (e.g., Dr. Hedwyn Brooks, Dr. Shiraz Sika, Dr. Shane Tubbs, Dr. Sarah Lindsey, Conor Grennan, Patrick Ehrman, Andrew Latham, Kari Sopratto, Kirsten Leuta, Sarah Benson Conforti, Mark Sadam) as exemplars of accessible, knowledgeable KOLs. The episode concludes with practical takeaways for assembling scientific advisory boards, emphasizing genuine collaboration over self‑promotion.
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KOLs. What are they? Who are they? How to become one? And who are some we think you should watch? Find out now.
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Serving the entire Gulf South, but recorded in the heart of New Orleans. Welcome back to Bio from the Bayou. I'm Elaine Hamm, the Executive in Residence at Tulane University School of Medicine.
And I'm James Zanewicz, the Chief Strategy Officer working with Elaine at Tulane Medicine. And today we're talking about KOLs, or key opinion leaders. We'll talk a little bit more about that, what they are, how do you identify them, how do you make them, and how do you maximize their impact?
Are we going to make some? I don't want to make anybody.
Yeah, big, bright, shiny stars, podcast stars like us. I'm going to be a star.
Well, okay. So what is a KOL?
It's an acronym that means key opinion leader. And it's funny because I will fall into acronym speak and be like, oh, they're a KOL, and people are like, what? Basically, it's an expert in some area or slice. And for us, often that's an area of science or medicine.
Yeah.
But it can be business, it can be how to network. My only skill is really connecting smarter people than me to other smarter people than me. But, you know, you can become key opinion leaders in lots of different things. things just by excelling, gaining knowledge, and then putting yourself out there.
Well, and, you know, KOLs from a scientific perspective are— when I think about KOLs, it's as a number of different things. One, when I'm looking at a new technology or a new drug, I need to understand it. And so I'll do a lot of research around it. But honestly, the best way to do it is go talk to the people that are either the physicians in the field, people that have already worked on that indication, and really get their thoughts and opinions. I mean, you really have to understand your customer. And sometimes those customers are pharma, because customers can be doctors, customers can be patients. And so When you have to gather knowledge and information about a topic, you have to really seek out those key opinion leaders. And then from a startup perspective, they really help build your roster and your brand as a startup because you need to show people that, you know, hey, we have so-and-so as part of our scientific advisory board. And then they start to believe that you also now have the expertise that the KOL has.
So once you've identified those and find those, Elaine, how do you engage and reach out to them? So you said, oh my God, I found Dr. So-and-so is an expert in this, and I really need them to consult, be on my scientific board. How do you approach them when you don't know them?
Well, first, I'm going to say it's actually hard to find people at first. So it's a hard thing to do. So, I mean, it's reading papers, it's looking at who's being asked to speak on a topic at a conference. So often I'll look through conference agendas, who's speaking, who's on a panel. I'll look through posters and find the people that are presenting on the topic. And then you also, as you start to do that, you start to see recurring themes. The same people are being mentioned time and time again. And so I'll also look at who other startups are using as part of their team.
Oh, SEC filings and things like that.
Yeah, SEC filings. I can look up their, you know, my competition's pitch deck sometimes and see like who do they have on their scientific advisory board. And then once you do that—
And then you find their nemesis and put them on yours. Is that what it is?
Yes, exactly. Find the competition.
Nemesis is one of your favorite words. I know this.
It absolutely is. And once you find that person, then you have to go through and say, how do you approach this person? And it's honestly as simple as just sort of introducing yourself via— I mean, we do it via email. Like, hey, I read your paper on blah, blah, blah. I really wanted to get your thoughts on this particular model or whatever your question is. And do you have time for a short call? And the short piece is very key because these KOLs are busy because they're leaders. They're key opinion leaders. And it can be really hard to get on their time frame. So you have to be very specific. I read this paper. I like this model. And I wanted to get your thoughts on this. And then just start from there. Yeah.
My approach for this, if they're in academia, I will reach out to their tech transfer office and say, hey, can you make a warm intro for me?
Yeah.
Because that is a great way for the tech transfer innovation office to get some cred.
100%.
By providing a service to their faculty that is not a huge ask. It might make their faculty members some money.
Yeah.
Potentially. But also, if you don't have that route, just going on LinkedIn and putting in their name and seeing who you have in common and begging for a warm intro. And, you know, if you have no one, it's harder. But, you know, odds are if you've been in the business for a hot minute, someone you know knows them. Yeah, and going to those second-degree connections or even a third and going through someone to someone.
Hey, do you know this person?
Yeah, yeah. And would you mind making a warm intro? And people ask me that all the time. Happy to do it. If I'm super busy, I might say, "Can you craft it for me?" And I'll edit it because I'm just swamped, but I'll get it out eventually.
So that's a really good point. If you craft the message beforehand, it helps. It makes it easier for them to actually want to help because oh, you've kind of done the work for them. But sometimes when you have your LinkedIn, you know, network, it's pretty large. I don't know about yours, but mine is pretty huge.
And so are you a LinkedIn size queen?
I'm a little, a little bit. Well, people send you. And you go, I met them 10 years ago and they're still part of my network. But so I'll put, if I'm looking for a very specific subject matter expert, I'll actually put that in the search bar and then, oh yeah, so-and-so has done this. And there are sometimes—
Who you already knew.
Who I already knew, or sometimes I don't even know that they worked on something. And so, and just having conversations and I'll just say, hey, you know, like actually my conversation with Dr. Hedwynn Brooks yesterday, she's, you know, working on menopause. Well, I'm also working on endometriosis and they're somewhat related. It's like, hey, I'm looking for this. Can you connect me? Do you know anybody? And she had like a list of people. And so that is so helpful. Just, you know, hey, do you know anybody on this? And you'd be surprised how many times.
So speaking of Dr. Hedwynne Brooks, we have really been working to position her. I mean, she's already a KOL in her right, but really to expand her brand presence as a KOL in the space of sex-based biology, precision medicine, these kinds of things, as well as women's health, menopause. I mean, she's got several areas. But how do you position KOLs for maximum impact? What are some of the tips and tricks we can do? I mean, my favorite is, Taking them to BIO and having them do meetings with companies, which just expands their reach and their network. But what are some ways that you've done things?
One, I think, is finding what they're really good at. Some people are very good at giving talks. Some are very good at really understanding how to explain science to a non-science person. So that can be really helpful, understanding sort of like where their niche is, not just within their— hey, they're an expert on endometriosis, for example, but they're very specifically good at talking about the patient's journey as it relates endometriosis. So taking that and honing that a bit is sort of my step one of how I think about positioning KOLs.
I love that. And so you and I have been around for a minute and have worked hard to position ourselves as KOLs in spaces.
Are we there yet? Can I stop now?
I don't think you can stop yet. But, you know, it is something that we've worked towards, I think, throughout our careers, and whether by circumstance or accident.
Yeah, I think— I don't know if it's something that we intentionally did at first, honestly. It's just that we have topics that we love to speak about. And I think that's sort of the key. It's not just the knowledge, it's the passion. And the ability to communicate it very well.
It's got to be genuine.
It has to be genuine. I mean, there's things that I could talk about. I don't think I would necessarily be the best person to speak about it.
So I think that's where recommending somebody else who, you know, is— yeah, go to that genuine brand. And then when they get a request for something that would fit you, hopefully they'll do the same. Yeah, it's a really great way of building the community up around you at the same time, which builds your brand too.
I think being able to focus. I mean, as scientists, we all geek out about science in general, and it's really hard to not get excited about all the things, but really focusing in on like, what are the things that you could speak passionately about without any prep? And really focus on that. And the focus is key, I think, because otherwise you're not gonna— jack of all trades, master of none is the phrase, I believe.
Exactly.
And so, and I think that when I was younger, I tried to be the expert on all the things, and it's not necessary. There are things I honestly am like, I would not be a good person to talk about that.
Could I? Yeah.
But should I?
No. The word influencer is so used now, and I kind of hate it. And they talk about KOLs as influencers of people. I think KOLs are actually informers of people. They have information to provide. Yeah, absolutely. And that's what I like to see is even like—
There's nothing to influence. I mean, it's just information.
Yeah.
Absolutely.
But that information can sometimes influence where things go and help develop medicine, diagnostics, treatments, tools, advanced AI. There's so many ways that you can help others. And I think if you approach it from A mentality of how can I help other people versus how am I positioning myself? That's where true kale well dumb. There's a new word for that.
Kale well dumb.
Cold dumb.
Just roll that tongue right there. Yeah.
We'll workshop that some more. That's where that happens is where it's coming from an innate sense of knowledge that you have. It's coming from your heart where you're trying to help other people. So coming from a good place and you're just sharing.
You're just sharing.
You're sharing facts.
Yeah. And I think that's a big piece of it. Influencers try to influence. Key opinion leaders, they just want to share facts and information. Oh, that's good.
There we go.
Okay.
Influencers try and influence and make things happen.
Yeah. Yeah.
Key opinion leaders, they just, they lead.
Yeah.
Oh God. I love this.
Oh, well, so are there any KOLs that you've seen that we should be, you know, thinking about? KOLs that you've seen in the past year or so?
We have great ones at Tulane, like Dr. Hedwin Brooks we mentioned. She's amazing. She's amazing. Dr. Shiraz Sika, Dr. Shane Tubbs, so many. I mean, Dr. Sarah Lindsey is an up-and-comer.
Can't wait to see more from her.
But then, you know, outside of the space of tooling, like Conor Grennan in AI. I love everything he posts. If you're not following him on LinkedIn, you should. I mean, absolutely. I think Patrick Ehrman from Boehringer Ingelheim.
Oh yeah, he's great.
He's transforming yet again, I think, the way industry approaches universities.
Absolutely.
As well as like Andrew Latham from Merck. and Kari Sopratto from Novo Nordisk.
Yeah, they're very knowledgeable and approachable, which is, I think, is another key piece. Like, again, that ivory tower that I've mentioned before, there's no point in being up there. You're not gonna be able to actually be accessible and share your opinions.
Who are your favorites? 'Cause you are a scientist.
You said a lot of them.
But you're a scientist, you have a lot outside and you have companies. So when you're looking at forming your companies, who are some of yours that you follow?
Well, right now, and we're trying to get together, you know, multiple scientific advisory boards for our companies. And so we have 2 indications. We have one on MS and we have one in endometriosis. And so we really have to build sort of a stakeholder stable of experts on both of those. And we get not just scientists that worked on drugs, but also the physicians and the clinicians that are seeing patients. That's really important when I build my scientific advisory board is to get the spectrum around the topic. So if I could make one recommendation as you look for KOLs for your scientific advisory board, are people that really help fill out the entire spectrum around your topic.
You want them to be around you and your space is not duplicated.
Absolutely. And I'm gonna also mention this from a board perspective. So there's a scientific advisory board, but there's also the board. People tend to fill their board with their besties and people that are going to be easy on them. And that is the dumbest thing ever. I want a board that can help me in times of crisis and people that are smarter than I am to help, you know, navigate things that I'm not necessarily good at. And so KOLs can play an important role in that too.
Yeah. And I think just a couple more who popped to mind, if you're looking at starting companies, it's a question I asked you, but Kirsten Leuta from Osage University Partners, like she'll help anyone. Sarah Benson Conforti, if you're looking at AI in healthcare. And then if you're looking at AI in business operations, Mark Sadam from NYU Langone. Like these are people who I turn to Constantly like, hey, what do you think? Or who do you know? Because they're a network. I think they're a network nexus.
Yeah, they they know people and like you know I'm not an expert but I can find this person. Those are key people to have in your life for sure. And then again, they're all very approachable people that I went to Kirsten for. Hey, I have this term sheet. You know, can you take a look at this particular term? Would this cause heartburn for an investor in a Series A round? And she gave me incredible advice on that.
So so I think we're supposed to wrap it up.
Did we do that?
Did we do it?
I think so.
I know we didn't screw it up.
Well, and I think Ian's gonna wrap it up side. Ian, did we screw it up? Nope. Oh.
Nope, wrap it up. He doesn't want to talk. He's like, no, no one might. Ah, there we go. All right, well, that's it.
The elusive Ian, you got to hear from him.
I know, he hides sometimes.
Hello. Yeah.
Oh, there's his dad's podcast voice.
There we go.
Anyway, this has been super fun as always.
Yeah, it's been great. So now we can work on being— what are we going to workshop? KOL Dumbs?
KOL Dumbs, which apparently you didn't like because you rolled your eyes at me. They can't see that, but they heard it now.
Well, Let's go work on finding some opinions to be key on.
I like that.
There we go.
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