As CEO of the drug development company Intellikine, Troy Wilson has come to grips with one hard fact of life: “There’s no instruction manual for running a privately funded biotech company.” Intellikine is developing a promising new class of drugs for the treatment of cancer, inflammation and autoimmune diseases. Since its start less than two years ago, the company has made tremendous progress – its first “small molecule” drug candidate is on track to enter human clinical trials early next year, and the company has rapidly created a pipeline of promising new medicines behind it. Wilson, a veteran entrepreneur who has put his stamp on several startup companies, has learned to surround himself with talent, passion, and “people whose strengths and experience complement your own.”
That describes CMEA’s role in a nutshell. One of three venture capital firms that funded Intellikine in 2007, CMEA is an active member of the team, lead by Karl Handelsman, Managing Director, Life Sciences.
“Karl makes sure I have what I need to run the business,” Wilson said. “CMEA sees the best practices; the problems other companies have faced; and they help us avoid the pitfalls. That perspective and vision is invaluable.”
The Intellikine-CMEA relationship was built on a foundation of trust that comes from a history of working together. Wilson was first introduced to CMEA through legendary entrepreneur Peter Schultz. Over the past ten years, Wilson has helped start several companies with CMEA, including biotech firm Ambrx and Wildcat Discovery Technologies, a leading clean technology company.
While developing his idea for Intellikine, Wilson approached Handelsman for possible funding. “Frankly, when I presented Karl with the initial idea, he didn’t like it all that much,” Wilson confessed. “He sent me back to the drawing board, and he was right. We came back more focused with a better plan – something that would ultimately create a lot more value, both for patients and investors.”
“It’s a privilege to work with a great team building a game changing company,” Handelsman said. The treatment that will soon enter human trials, for example, targets a key pathway that cancer cells use to get the upper hand on normal cells. Handelsman equates the feat to “creating a master key for an apartment building that will only open up apartments five and nine, but no others in the building.” Given the millions of possible molecular combinations and the equal number of potential interactions with human cells, Intellikine’s development “is nothing short of extraordinary.” Other small molecule drugs under development at Intellikine include potential treatments for inflammatory diseases such as rheumatoid arthritis, cancers such as leukemia and lymphoma, and respiratory ailments like asthma and chronic obstructive pulmonary disorder (COPD). The company will soon secure additional funding and is exploring potential alliances with pharmaceutical companies.
The early success has created momentum and helped to attract more talent. Everyone wants to be part of a winner. “Intellikine has been very successful adding to the team,” Handelsman said. “When companies are on track, and you have everyone pulling together to do the near impossible, it’s easier to get other great people to join you.”
Wilson shares credit with Handelsman for recruiting their all-star talent. “Karl is passionate about the company and the science,” he said. “It comes through in the boardroom, and when he talks with drug companies and prospective employees,” he said. “Building this company is the hardest thing I’ve done. You need that kind of passion if you truly want to change the world.” Especially since there’s no instruction manual.