What kind of board does a development-stage biotech actually need? How should we allocate the board’s time? This article is an exploration of how an biotech should utilize its board as a resource, conserve directors’ time for what matters most, and get the best out of its board, especially its investor-directors, in the process.

We’ve suffered a protracted downturn in general interest in biotech. That downturn has been compounded by rising interest rates undercutting equities in general. Now we must determine 1) how much worse this downturn might be and 2) how we’ll do things differently once we reboot. Here, Peter Kolchinsky explains why he believes we’ve emerged from the downturn but must reboot biotech with more honest and efficient processes and better defend our industry’s value proposition to policymakers and the public.