All Articles
Governance insights and analysis for biopharma board members.
Handling an Underperforming Board Member
Evaluating Licensing Deals from the Board's Perspective
CEO Evaluation in a Clinical-Stage Company
Managing Runway Pressure Without Panic
When the company has 12 to 18 months of cash remaining, the board's behavior determines whether the outcome is a disciplined raise or a desperate one. A governance framework for capital pressure.
How Boards Should Evaluate Ambiguous Clinical Data
When the clinical results are not clearly positive or clearly negative, the board faces its hardest test. A practical framework for navigating the gray zone.
The Unwritten Rules of Effective Biopharma Boards
Everything you need to know about how high-functioning biopharma boards actually operate — the norms, habits, and expectations that governance manuals never teach you.
The Board's Role in Trial Go/No-Go Decisions
The most consequential decision a clinical-stage biopharma board makes is whether to advance a program to the next trial phase. Most boards get the process wrong.
Why Biopharma Board Governance Is Fundamentally Different
Generic corporate governance training does not prepare you for the realities of a clinical-stage biopharma board. Here is what actually differs and why it matters.
Governance vs. Management in Clinical Development
Where the board's oversight role ends and the management team's execution authority begins — and why getting this boundary wrong is the most common governance failure in biopharma.
Board Composition Strategy When You Only Have Five Seats
A large-cap board can spread expertise across twelve directors. A clinical-stage biopharma board has five, maybe seven. Every seat is a strategic decision with governance consequences.
Board Governance During Fundraising Rounds
Fundraising transforms board dynamics. Directors who understand the governance implications navigate it effectively. Those who don't create risk for the company and for themselves.
Fiduciary Duties in a Clinical-Stage Context
What duty of care and duty of loyalty actually mean when the company has no revenue, survival depends on trial outcomes, and every major decision carries existential risk.
Managing the Tension Between Investor and Independent Directors
The structural conflict between investor directors and independent directors is the defining governance challenge of venture-backed biopharma boards. Here is how it manifests and how to manage it.
The First 90 Days on a Biopharma Board
A practical orientation guide for new board members joining a clinical-stage biopharma company for the first time. What to learn, who to meet, and what to focus on before your first major vote.