[0:00] what is the bioventure elabHello, the guest today is Lauren Busby. She's the director of the Wild Cornell Bioventure E Lab, which creates so many wonderful startups from Wild Cornell. So, so hi. Hi, Lauren. What is the bio venture E lab do? Bio Venture E Lab works very closely with its colleagues at the Center for Technology Licensing at Wild Cornell Medicine, and we help to commercialize the technologies and inventions created by the Wild Cornell scientists and clinicians here. We also work very closely within our Tri. I ecosystem and that includes Memorisone Kittering as well as Rockefeller University and the hospitals in our Upper East Side area, including New York Presbyterian and Hospital for Special Surgery. Very cool. So what are examples of like like innovation that could come out that would help somebodies life get better? Good questions. So we have, we create a number of inventions here on the Wild Cornell campus. The majority of them are fall in the therapeutics category. So the drugs that might help you to improve your life and lifestyle of lives of patients. Of course, we also invent very unique medical devices. In fact, you might not know, but the Pap smear was invented here at Wild Cornell Medicine many, many years ago. So that's an example of what innovation comes out of our ecosystem. So in addition, have digital health products that are created and diagnostics products as well as tools that help to perform research and we call them research tools. Interesting so it's all all kinds of different kind of processors therapeutics that's like a pill that you swallow yes and device which is like a thing that you. Or insert. It can be a hard device, right, that you insert into the body, or that's used during surgery to help improve the delivery of care. It can also be a digital health product, like a wearable that you use. So it can be a combination of a device plus some software that's included for patient monitoring or for biomarkers, for example, measuring biomarkers. We have a number of devices that are under development right now, including devices for assessing Alzheimer's disease, assessing migraine headaches and things along those lines. That's interesting. So, so the patients, they come to Wild Cornell like they they're sick or something and they're able to use these innovations at Wild Cornell. Well, you have a long road ahead of you from the point of actually, umm, developing a new technology to it being used in patient care. Oh, and so that timeline is different for therapeutics products versus medical device products, digital health, etc. In some cases, most cases, as it relates to innovations here on the Wild Cornell campus, those new drugs or devices or technologies have to go through regulatory approval. So part of what Bioventure E Lab does is we inform and educate the community about those kinds of topics. What does it take to take an invention from the point of conception to the clinic off of therapeutics? Products that can be anywhere from 10 to 20 years, Device products can be anywhere from 5 to 15 years. A digital health is a little bit of a shorter time frame, but depends on what that device is going to be doing, who's going to be using it? Is it going to be used by the provider or the patient? In what setting is it going to be deployed? So there are a lot of ideas and things as it relates to business model and how it's going to be commercialized, which need to be thought about. You need to strategize on them. You need to develop a commercialization strategy. That's what we do in terms of helping the scientists and clinicians who invent these products. We we walk them through a number of topics to educate them about what it takes to go from concept to commercialization. Gotcha. And then after it's commercialized, then it would help the patients. Yes, correct.

[4:18] regulatory pathways and go to marketSo once it's assuming it needs FDA approval, you go through FDA approval and then you have to chart your course for how it's going to be delivered to whoever is going to be the end user, whether that end user is a provider or hospital clinician or whether it's going to be the patient directly. And that also takes time. Just because you have approval does not mean that it reaches patient's hands or the end user's hands right away. You have to have the capital to bring it out to the marketplace and you have to have the right channels. We call that your go to market strategy, right. So you need to come up with a go to market strategy. And sometimes that is direct, meaning whoever invents the product and and manufacturers the product or brings it direct to the end users. But sometimes it's through other means, through partnerships or distributors, to take the product after its manufacturer and actually bring it to the end user. Oh wow, so there's a lot of steps after you have like a big aha moment. Yes, I do. Like God so. So what's the process for getting started on trading something? OK. So when you're a student at Weill Cornell and you can be on the medical school side or the Graduate School side, that's how we differentiate. And those folks, they're very innovative and very eager to make an impact on patient care. And we love their energy and enthusiasm. He has them. But often times their studies and the work that they have in the laboratory or having to, you know, go through their medical training, it doesn't give them the opportunity to be as inventive as they may like. So more often than not, the inventions from WOW Cornell Medicine are usually conceived by the faculty member or the clinician in the conceptualization, depending upon on the research side, what they're doing at the bench and the whole theme of their laboratory and their work over the years. And as it relates to the clinician, more about how they can improve the delivery of care and the patient's care that they have for whatever their specialty may be or whatever their interest may be from the medical side. Oh, interesting. So there's a researcher and there's a clinician. But it's very often they inform one another, right? So a researcher may be developing a cancer therapeutic, but the researcher needs to know on the clinical side how that provider, how that clinician is going to slot that particular therapeutic into the lines of therapy that are available. We call that standard of care. What are the, what is the standard of care today and how can that new idea that you have at the bench on the research side be commercialized and used in the clinical setting given what's already the standard of care? And so there's a lot of education that needs to take place between the research side and the clinical side. Gotcha. And do they all happen that building over there, the the York Ave. building, like the research and clinician are all in that same? Building, no, all in that same building, while Cornell has a number of research facilities and I think now over 500,000 square feet of laboratory stays. So please don't quote me on that. And then from the clinical side, we have all of the work that's done in combination with our relationship through NYP as well as other clinical services that are delivered here on the Upper East Side and our Midtown locations. We're going to have some clinical services available through our Midtown locations. And then as you may know, a New York Presbyterian has a number of locations around New York City, Lower Manhattan, for example, Brooklyn, the Bronx, and WOW Cornell clinicians participate there as well. Gotcha. So I talked to a lot of software startup, they all talk about product market fit. Is it like easier to find product market fit because you already have all the clinicians there with all the customers? That's a very interesting

[8:22] founder-market fit in healthcarequestion. We like to say that we are very good at founder market fit because we are in the healthcare area. We live and breathe life sciences every day. And so when a clinician or a researcher invents something, they have a passion for solving a problem that they are experiencing themselves so we can understand. And it's umm, easy to draw a linear line between what they actually encounter as a problem every day to a solution that they develop either through the creation of a drug or through the creation of a device, digital health product, etc, to help solve that problem. And so yes, we are very keen on that founder market fit that we are able to attout as one of the things we can do here in terms of product market fit. I often tell people in our education courses, you can only test product market fit by getting outside the four walls of Wild Cornell Medicine. Because that problem that you're trying to solve for that customer, customer conceived by you likely in this little microcosm, maybe not so little, but in this Upper East Side microcosm may not be the same problem experienced by someone in a rural care setting, for example, or in a different part of the United States or even part of the world. So you need to get outside the four walls while Cornell to test product market fit and we like many of the other institutions around New York City, we have programs that help people do that. The main program that you hear about often is the NSF I Core customer discovery program and we work very closely with our brethren at Cornell University and use their Northeast I core hub to steer our inventors through that program. We also do some programs here on the wild campus where we sometimes may use outside resources to conduct the customer discovery or the customer research. And as you know, that may be either through primary research that you do directly with patients, or it may be secondary research that you do through research sources, market research firms that publish these massive market research reports, maybe through Wall Street, etc. And so we work with outside groups that help us do that sometimes, not all the time, but sometimes. Gotcha. So then that was the salvage product market? Yes. Do you have like a good specific example from founder market fit to private market?

[11:07] specific example of starting startupsYes, we have examples. So there's a company here in New York City called The Serious Therapeutics. And the Serious was founded by a clinician. He happens to be a clinician with a scientific research lab also, and his name is Doctor Jason Spector and he is head of plastic surgery here at WOW Cornell. He had a problem with skin and the the when he had like burn victims or major surgery where large portions of the skin were removed. He was not satisfied with the aesthetic and other results that he experienced through using what was currently on the market. So he worked with researchers as well as some folks here in the ecosystem and they developed a product called Derma steer. That dermis product received some government funding for the research that was conducted to develop it and test it in, in, I think it was in animal studies, yes, in animal studies 1st and now they're doing human studies. He worked very closely with this young woman who was here in the ecosystem and she is now the Chief scientific officer there. Her name is Yulia Sapir Lakovitzer and they, she went through a number of programs here at Bioventure E Labs, then a number of programs across our enterprise innovation group here. And then you see now an example of a founder clinician who had a problem. He tried to solve the problem by developing his own products called Dermisphere, and they formed a company called Fisarius Therapeutics. And happily, Fisarius just received FDA clearance about a year or so ago for this Germisphere product. So so like what's the steps in creating this new skin product? You have to publish papers. Yes, you need a lot of research

[13:07] designing a new productbecause you have to develop a method where the cells will grow and scaffold in a proper way and not only grow but of course endure the test of time. So he worked closely with this group and they developed a number of different techniques and products. I don't know all the insurance and outs of how how you know what their testing was like. I do know that it took them several years to develop the product that they first tested in pigs, I do believe, and then they got FDA clearance and now they're doing their human studies through a trial that you can find out more about online. Very interesting. So that was a good example of a clinician LED one where he saw the problem. Is there anything on the other end where they start off with a research solution, where they come up with a new tool? They're trying to find this clinician.

[14:00] specific example #2Sure. Well, an example, especially for those who are in the New York City ecosystem, probably the highlight of that would be a company called Lexio Therapeutics that was founded by research conducted here by Doctor Ron Crystal. And Ron is the head of the Department of Genetic Medicine at Weill Cornell. He has a very long and storied career in gene therapy and he developed a product that I believe was for Frederick cytaxia and Alzheimer's disease gene therapy. And now he those products were licensed to a company called Lexio Therapeutics. Folks around Lexio, excuse me, folks around New York City will know Lexio Therapeutics because it's darling in our ecosystem, very successful in terms of raising capital and moving products from what was originally licensed was a Believa 1 phase one clinical asset as well as a number of preclinical assets. And the clinical and preclinical assets have now advanced to farther stages along the regulatory pathway. So the company has raised well over $300 million. They have a superb CEO. We're very happy for Doctor Crystal and all of the success that that company has achieved. That's really cool. So on the chart picture from like the perspective of the researcher that they, they do a lot of the research and then the clinician, they do a lot of the clinical like how much their time is spent on the startup. Is this like in addition to the papers that they have to publish? Good question too.

[15:33] balancing research and startupsSo typically when you're an academic innovator, you're able to spend one day a week working on your startup idea or your invention, I should say, not so much your invention meaning, but you're always creating. I mean, that's why you're in this world and in this ecosystem because you have ideas and you want to execute on those ideas how something works and trying to figure out how disease works or trying to figure out a way to solve a problem related to that disease. So your ideas are very valuable and once it is determined that you have some intellectual property that has commercial potential, then one pathway may be a startup. Another pathway which is often used is to license directly to an existing company and industry and, you know, forgo the risk of the startup environment by going through a company that's currently operating. So that happens often, our brethren that the Center for Technology Licensing will execute on those transactions. If it's moving down the pathway where it might be a startup, that's more where Bioventure Elab would get involved in terms of education and programming and making sure that we're trying to match resources up with that innovator to help them advance that project. And that may be maybe from an education point of view that may be introducing them to business folks who can help them, mentors who can help them and work with them. It may be introducing potential vendors or operating partners, maybe help with manufacturing, may help with development, may help with the regulatory strategy. And we have a lot of resources that we share with the community that allows that helps them to move those projects along. This is so the licensing would be a less time commitment. Deal with all that. Yes. Well, depends on where it is in the process. You know, some people even though there's a license arrangement, they may still have to add some advice or counsel to how that project is going to work or the product is going to be developed while it's in the hands of the commercial partner. And that might be through some type of consulting arrangement, for example. But still, in those situations, the researcher or the clinician is allowed one day a week to work on on those projects, and that's typical in academia. One day. One day a week, yeah. What's fascinating is the idea to start to start like start to start up the the rather than licensing so that it will develop into a further along stage that would be easier to license is the yeah to start to grow into IPO. Well, everything takes money unfortunately, Tony, as we learn as adults, right? And so the pathway that one

[18:35] pathway to commercialization depends on where the money comes frommight take for commercialization sometimes depends on where the money is going to come from. And that's not always part of, you know, at one's whim. You can't just say, I want to license this product and I'm definitely going to go down that pathway. It's more about what the marketplace dictates. And so in some cases, especially for those opportunities that address a high unmet medical need, have a unique intellectual property position, are able to attract a good business team that want to take it forward. And and you can see the project advancing down the road of a startup. There may be investors who want to take that and work with those particular that particular group of people, those inventors and move it and advance the project that way. In other cases, it may be a industry partner and that industry partner may have a program or a, a area of science or a sector within the marketplace on which they are focusing. I'll give you an example, obesity as an example. If someone has a a number of programs in obesity, they've made some investments in that area being a commercial company and they want to expand that portfolio or amend that portfolio or adjust that portfolio or maybe something's going off path, probably not the right. Area where it'd be going off patent, but you get my, you understand where I'm going. If they have that area of interest, then it's more likely it will go down the path of commercialization. So the marketplace on which we know is fickle is really what dictates the direction. That's so interesting. So this is all before after the approval. So marketplace isn't the patient that would benefit from it, the more the marketplace of like where the financial. Yes, but a lot of it driven by unmet medical need, OK. So you it has to be a big market with with a regulatory pathway that folks are familiar with or they feel comfortable that they can assume those risks. They have to have the money to be able to execute on the clinical trials, which we know can be very arduous. And that's where we lose a lot of these inventions, right. Sometimes we lose them in the preclinical stage, but other times we lose them in the clinical stage. And that can be not only on the drug side, but also on the device side. And so, you know, if you can withstand those risks and you have the experience set to take it through those processes, then it's more likely that it will reach the marketplace. And it sounds so simple, right? Sounds so linear, never linear. A lot of times the science could be good too, if it's science could be perfect, but then the marketplace might not. That's correct.

[21:25] understanding the biotech marketYeah. The market or you might be too early, you might, you know, the marketplace might not be ready to adopt whatever your technology is. And an example of that is mRNA Therapeutics. mRNA Therapeutics which is the Copa vaccine was available prior to, you know, 20/20/2019, 2020. That technology was under development. It just didn't find its knit so to speak until the market need was there and they executed, you know, superbly to bring those products to market. But I'm not sure that would have happened that fast without the catalyst of the the same thing happens with gene therapy. Gene therapy was at one point darling. And then unfortunately a patient was did not make it through one of the trials that they were going through. And that put the program off for a good 10-15 years. And then it came back and is now being implemented in a number of different disease areas. So you have these ebbs and flows of what is what the marketplace is willing to work with and and take through all of these processes which can be very arduous and long and difficult. And so you really have to have luck on your side a little bit. And like, how do you get a feel for what the marketplace is out there? Like do you go to the JP Morgan healthcare conference? Like what's the right way to get the feel for?

[23:03] understanding the marketplaceThem, OK. So we talked a little bit earlier about customer discovery, but let's talk about customer discovery as it relates to understanding what's going on in industry, OK? So you have to do industry research. And we're very fortunate to be in a city, New York City, which is the finance capital of the world, or close to it. And we have a lot of very smart folks on Wall Street who study these marketplaces for a living. And they publish materials about these marketplaces and they analyze different segments of the marketplace and patient populations. And they can share, they share with the world what their findings are and what their opinions are about what's happening in science, what's happening in the life sciences sector, where they see both companies and products finding a niche in those different. And so that's one way to educate yourself about what may be happening and opportunities that may be available. I won't say Wall Street. Wall Street is the only place. It is not the only place. It's just one place where you can access information. You can also access information by conducting surveys or doing focus groups or going to scientific conferences and learning about, you know, what is being presented on the posters and what is the newest science and what's groundbreaking and what did the subject matter experts think is going to have legs in terms of making a difference to patients. So there's a lot of ways to gather information and understand the tenor of the environment. How correlated is the academic world with the financial world? Is there like a if we get sided more does that mean the guy gets more investors too? Not very correlated. There's a timing difference between what happens in academia and what happens with Wall Street. So it's from a macro point of view, yes, I would say you get a feel at the academic level when there's a major shift in the finance world, but it doesn't happen immediately. So I wouldn't say that there's a strong data connection. So I'm trying to picture back to the researcher at the they're working on the research and then and then the one day a week they can work on the innovation part of it. Yeah. Like is there something they can do on those four days where they're working on the non innovation part that could feed into that one day? Like we'll have to optimize the four days to make the best one day, yeah. Well, their body of work is probably all related, say that, you know, it's not as clear cut as four days on one thing in one day on another. It's probably intertwined. I would also say that their reputation, they're they're building a reputation as a subject matter expert. And so for that researcher, the publications that they put forward, the conferences that they seek at the number of students that they're working with in their laboratory speaking engagements that they may have not necessarily at conferences, but in other areas, be it with other scientists, that all feeds into a reputation. And the more you can build your reputation with within the community, your research community, then you will have a greater your ideas. People will listen more closely to your ideas and you may have a greater impact on the way that your research is thought of in that particular sector. That crosses over from the academic reputation, crosses over to the financial. Yes, yes, that. Crosses over. Yes. So if you are, you know, a subject matter expert, you have 20 to 25 years of chain of evidence on various aspects of whatever your sector of interest is, then you are considered, you know, a key opinion leader. And as a key opinion leader people your opinion for what's happening in their world, either

[27:05] building up a reputation in academia and commercializationwith their patients or an innovation they may have. Or even companies in industry may seek to work with you to develop new products or may seek to have you work with them as they try to deploy products. So for example, a medical device manufacturer may go to a surgeon and say we just developed this great new widget. Let's say it's a a bone replacement. OK. I once worked with someone who had a total ankle product and that that ankle product had to be commercialized. How do you commercialize it? Well, you have to convince those orthopedic surgeons to use the product in patients. And how do you do that? Well, you have to develop a chain of evidence through clinical studies. And so they need physicians and surgeons to work with them on those clinical studies. You can develop your reputation that way. The industry loves when you know you're open minded in terms of trying new things, of course, never putting the patient at risk and always being disciplined in how you do that. So there are ways that people build their reputation and then they are listened to more often in whatever the their area of specialty. That's so interesting. There's academic research that goes into clinician. There's also corporate research that goes into. Yes. What's the difference between academic research and the R&D that happens at the corporate level? Well, it depends. Some of the research in academia is deemed basic research, OK. And then some of what happens in the corporate world is more translational, more on the what can be commercialized and rather than finding, finding new ideas, new ways that nature is surprising us in the way it works. The skin, the skin example earlier and also left seals example. That was all from the basic research. Well, with this skin product, he had a problem doing the surgeries, right. So that was something that he discovered just in the course of care delivery. So in terms of basic research, not so much in that particular example, although to develop the product, I know that there was the person who did that had brought in some experience from prior industry. And so it wasn't like they took some components off the shelf, put them together, and then had a new product didn't happen. They invented a new product. That new invention is patented. That product went through numerous tests to prove its significance and the fact that it improved patient care, at least in these animal studies that they did. It got FDA approval through a 10K process and now they're doing human studies. Comes back and forth. Yes, yes, yeah, you. Said there was like the they do their research and that point at some point there's some patent that could come out of it. Is there anything they can do to optimize or research for more patents? Where is the idea to optimize research for research purposes and if a path comes out? I don't know about optimizing for a patent, but if you are

[30:22] research and patentsworking on innovations in a particular field, you need to memorialize the work that you're doing and then look out into the marketplace and see if anyone else is doing work that's similar. And that that work may be maybe a method that is developed. It may be composition of matter that's developed. It may be a design in the case of a medical device. And all of those all of those items are packed into bowl if in fact they are novel and they are non obvious and it goes through a process where a patent or turn out not attorney AM will review that in comparison to other items that they've seen and it goes through a whole prosecution process. How does that work work into the workflow? The folks in Enterprise Innovation and particularly the Center for Technology Licensing have various areas of research that they cover. And yes, they have regular interactions with those groups and departments. And those groups and departments are also trying to innovate and they have their own goals that they want to meet. So in some cases they come to us or I should say to CTL, in other cases CTL goes to them. But it's, you know, they give and take symbiotic partnership. Oh, very interesting. So earlier you said that there was like this marketplace where the fight the money once is like their interest in obesity, for example. Is the researcher like very far removed from all that marketplace? Where does the researcher keep a tuned to what's happening in the marketplace? Depends on others research, depends on the person. Some folks, you know the clinicians if they're so if they're working with patients, they have a good feel for what is standard of care and so they know what, where the opportunities are. From the research side. I would say yes, more likely than not if you have a a body of knowledge that you've been working on, for example in lung cancer or if you have a body of knowledge in some of the disease area. We have someone who was focused on multiple sclerosis, for example. So they may know what is the latest and greatest research in multiple sclerosis, but the researcher may not always be disease focused. They may be method focused or they may be focused on certain mechanisms within the body and those mechanisms may lead to various types of diseases. And so if they have ways of modifying those mechanisms, be it through through exaggerating that mechanism or inhibiting that mechanism, they can work on that technology that too becomes a patentable. And because they can manipulate the mechanism that way, that would likely be a method and then that turns into a potential process which could be a product that is offered in the marketplace. So it's not always necessarily focused by disease it. Could be method as well. Yeah, it could be used for the head or the toe. Right, right. But it's more about how the they know how the body works and, and so that may be their particular focus in their research.

[33:40] come to the BioInnovate Conference on 4/23 starts at 3pmAnd we're going to be talking about a lot of this and we're going to be highlighting several of our innovators at our upcoming Bio Innovate conference. So I think I told you we're having a conference on April 23rd. It's it's that half a day from noon to 6:00 PM. And the first half of that afternoon is set up specifically to introduce our innovators to people who might help them advance their projects. So to early stage investors to industry representatives who might work in partnership or Co develop that particular product or method and also potential business partners who can work with them and take these projects forward. So the first half is structured so that we can do meetings between innovators and some of these stakeholders in the industry. And then the second-half of the afternoon is a group of panel discussions, featured guests and presentations from some of our innovators. In fact, two of the innovators, 1 is focused on multiple sclerosis that I mentioned before that's a therapeutic product. And the other is a digital assessment for amyloid plaque. And that is a precursor to understanding if someone has Alzheimer's disease or mild cognitive impairment. And so it's a new technology that they're bringing to the forefront. And the well like what are the attendees like who should attend this? We we invite the entire ecosystem. Anyone from the New York City ecosystem is welcome. It's April 23rd, I mentioned starts at noon, but the panel discussions start at 3:00 PM. So it's open to the public at 3:00 PM And I can give you information about registering for the conference. We currently have close to 220 registrants. We have over three dozen companies being represented. We have close to or than four dozen industry and investors who are represented. So we're going to be spending the next two weeks trying to match those folks up so that we can make magic happen between the innovators and some of the stakeholders who can help us advance these projects. What's the example of a successful matching that happened in like past years? Well, we had some folks last

[36:02] successes from past BioInnovate Conferencesyear who were interested in working with Wild Cornell innovators, 2 people who had been in the life sciences industry for many years and they had invested in a company and we're looking for a new project to take on. And they met a group of our innovators and they've now are spinning out a company. So that's a successful venture. We had an investor who met one of the innovators a couple of years ago and shortly after meeting him spent about, I don't know, four to six months, I don't remember exactly doing due diligence and then made a $5,000,000 investment in that company. We've had relationships that develop. This is all about building relationships. So we've had relationships developed between innovators and investors that are long term and the investor is watching and hoping that, you know, progress has been made over the course of the year. And they specifically use this conference to follow up with some of those inventors that they're tracking. So we've been successful in matching people with investors. We've been successful matching them with people who are interested from industry and and spin out management teams. So along all those lines, we're going to be working very hard to make things happen. That's why. When did this happens every year? Every year it's moved around a bit. Sometimes it was in February that more recently it's been in April. So springtime in New York City, you can't beat it. And like in addition to this conference each year, other events and the things you do to build up the the entrepreneurs, OK. Good. So Bioventure E lab does a number of community events. We have some anchor programs throughout the year. For example, we run a student accelerator program, we run a faculty accelerator program. We have a number of grant writing people who come in and and talk to our groups. We also do programs about various topics like Women's Health. We did a a program recently about data evaluation. We're going to be doing another program that's going to be highlighting our digital assets, particularly from the our population health group, another Women's Health project. So there's a lot happening through through Bioventure E Lab and across the enterprise innovation groups here at WOW Cornell, a number of things that are here to educate people as well as sort of spur on the innovation and entrepreneurial culture. Yeah, well, what's this wonderful space behind this? OK, So we are sitting in the

[38:38] creating a culture of innovationclassroom area that is part of Bioventure E lab and every Tuesday night, at least in the spring, every Tuesday night, we hold our faculty classes here this Year 5 to 630. And so we get people together. We have people who come in as guest lecturers, some of them from industry, some of them from various service providers and it's this area is used for education purposes. We also host some events here. We have a makerspace, makerspace in the back with a brand new 3D printer and we about 3 or 4 * a year. We hold classes that are run by one of our MD students and they teach somewhere between 25 and 40 students come and learn about 3D printing. So we do those kinds of programs. We do a number of online events. In fact, in the next two weeks we have two warm up events for our Bio Innovate conference. 1 is going to speak on the topic of novel targets and what it takes to actually move a project on a novel target from discovery through getting the attention of investors. And the second one is going to be on strategic networking and what is involved in, you know, when you go to some of these conferences, how can you strategically use your time to make sure you're developing relationships that will be long lasting rather than episodic and not fulfilling? So that's going to be the topic there. And this culture of ecosystem, this culture of entrepreneurship in this space, how do you make sure it permeates everywhere? Bioventure ELAB works very closely with all of the campuses across Cornell to get keep that energy and enthusiasm alive with regard to innovation and entrepreneurship. So we do cross campus collaborations with folks, we invite them to our programs, they invite us to their programs. We share as much as we can across our 1 Cornell ecosystem, meaning resources. We Co host events, we share our mentors and things. You know, if there's someone in the wild Cornell ecosystem that can help a life sciences researcher in the Ithaca ecosystem, we make those connections happen. And in fact, in some cases, there's a formal program for rewarding those trust campus collaborations, and that's known as the Resnick Prize for Excellence in Entrepreneurship. And we are very grateful for the good fortune of Gene Resnick for endowing that award. And we're actually going to be giving away that award again this year at the Bio Innovate Conference. And the further closing question with regards to all the work that you do here, like, oh, what's the kindest thing that anyone's ever done for you? OK, I cannot do the work that we

[41:35] closing questiondo here, We cannot do the work that we do here without the help of our mentors and other people in the ecosystem who donate their time. And some of them are, well, Cornell and Cornell alum who think you know it. This is important work that they do. They come from all parts of the world, some from Rochester or, you know, across the country to participate and spend time with our innovators to try to help them advance their projects. So in terms of kindness, we don't pay them. They do it gratuitously and they do it with a smile. And they have been extraordinarily helpful to many of our innovators and I thank them very much.