Alnara Pharma Used “Flexible” Strategy on Road to Eli Lilly Deal
Summary
Indeed, Alnara used what CEO Alexey Margolin called a “flexible model” en route to its buyout agreement with Lilly (NYSE:LLY). The startup, which has raised a total of $55 million in venture capital, has relied heavily on its full-time staff of experienced people and a large number of contractors since it was founded in July 2008. Bob Gallotto, the chief business officer of Alnara, said that the company has kept its number of full-time staff members low to limit spending. Alnara is among a growing number of biotech startups that have adopted business strategies or models that include the use contract workers, partners, and lean staffs of highly capable people to move their drugs toward the market. Another local example is Cambridge-based Zafgen, a developer of obesity drugs that complements its core staff of three senior executives with a network of consultants and contract research organizations, company CEO Tom Hughes has told me.
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