I came across this article that I first read in Au
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Posted On: 01/24/2019 4:33:32 PM
I came across this article that I first read in August, 2017 about Dr. Oron Yacoby-Zeevi, our Chief Scientific Officer.
In the article, Dr. Oron Yacoby-Zeevi tells about the day Neuroderm almost closed down, and how Israeli venture capital funds missed the opportunity to invest. As many of you know NeuroDerm was sold to Mitsubishi Tanabe Pharma for $1.1 billion in the largest-ever Israeli pharma exit.
Here is the article, followed by a few notable quotes. Even if you’ve already read it, It’s worth reading it again.
https://en.globes.co.il/en/article-neuroderm-...1001200352
When Dr. Oron Yacoby-Zeevi joined Neuroderm in 2008:
In the face of such bleak prospects Oded Lieberman told her:
Most of us have stated many times before that if it were not for the caliber of individuals such as Dr. Stanley Hirsch, Dr. Oron Yacoby-Zeevi, and Yossi Dagan that came on board in 2017 we probably would have bailed by now. Ask yourself, why would someone like Dr. Zeevi, who has intimate knowledge of the science behind the products the company is working on, is still with the company if she didn't believe in their potential?
In the article, Dr. Oron Yacoby-Zeevi tells about the day Neuroderm almost closed down, and how Israeli venture capital funds missed the opportunity to invest. As many of you know NeuroDerm was sold to Mitsubishi Tanabe Pharma for $1.1 billion in the largest-ever Israeli pharma exit.
Here is the article, followed by a few notable quotes. Even if you’ve already read it, It’s worth reading it again.
https://en.globes.co.il/en/article-neuroderm-...1001200352
When Dr. Oron Yacoby-Zeevi joined Neuroderm in 2008:
Quote:
“she and the other employees realized that NeuroDerm had turned from a company with one product into a company with no products. "For me, it was never the end of the story," she remembers. "In the R&D team, we said, 'If one way doesn't work, we'll think of another way. That's how we got the idea of delivering the material into the bloodstream using a pump. No company was working on such a product at the time."
In the face of such bleak prospects Oded Lieberman told her:
Quote:
Do what you do best, and I'll take care of the money
Quote:
In the final week of 2014, the company benefited from a positive coincidence, luck or good karma. NeuroDerm undertook to publish the results of its first clinical trial by the end of the year, but the results were delayed, and arrived on December 30, in the middle of the holiday season. The bankers funding the company claimed that there was no point in publishing the results - everyone was on vacation, and no one would see them.
Quote:
Yacoby-Zeevi remembers, "It was important to Oded to keep his promise, so it was decided to publish the results during the vacation. So they were published on a day on which there was very little news, and they attracted a great deal of attention." The company doubled its market cap in a single day on a huge trading volume, and this fact attracted interest from investment concerns on Nasdaq that do not generally invest in small companies or health companies. In a single day, almost by chance, NeuroDerm made it to the big leagues.
Most of us have stated many times before that if it were not for the caliber of individuals such as Dr. Stanley Hirsch, Dr. Oron Yacoby-Zeevi, and Yossi Dagan that came on board in 2017 we probably would have bailed by now. Ask yourself, why would someone like Dr. Zeevi, who has intimate knowledge of the science behind the products the company is working on, is still with the company if she didn't believe in their potential?
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