Nexxus Scotland

Henry Keogh, Life Sciences Business Adviser Service Adviser, Scottish Enterprise

Q:  What do Life Sciences Business Advisory Service (LSBAS) advisers actually do?

A: LSBAS advisers have executive and board level experience, in UK and international life science companies, covering life science markets from diagnostics, biotechnology, pharmaceuticals and medical devices to service industries.   

We provide business and management expertise that many pre-start and early stage companies may not possess. This covers support ranging from advice on commercial feasibility, preparing business plans and looking at company strategy to technology transfer, securing investment, identifying partners, company formation and preparing a company for flotation. Primarily, we provide this advice and practical help (often very hands-on) to academic and clinical groups, early stage start-ups and spin-outs. However, more established SMEs or even individuals with an idea can access LSBAS advisor support.    Along the way we provide a reality check to ensure that projects are truly commercial.

We are independent, providing our services to Scottish Enterprise (SE) on a part- time basis, as and when needed. Services can be as simple as a telephone discussion or a short meeting on a specific issue. Sometimes longer and more intense involvement is required such as developing a business plan or raising funds. We can utilise others LSBAS adviser's help and access the support of an accountant seconded from Grant Thornton.

Anyone can access LSBAS support or get more information by contacting Sharon McKendry at SE Glasgow (sharon.mckendry@scotent.co.uk) or their Scottish Enterprise LEC account/relationship manager.

Q: Tell us about a typical day (or is there no such thing?)

A: No, neither as an LSBAS adviser, nor in my other projects under my own consultancy (? doing what?) company, Kebris Ltd. I have wide experience of life science markets and commercial roles within companies and speak several foreign languages, having lived in the UK and mainland Europe. I get involved in a wide range of commercial development.

LSBAS advisers have worked on diverse projects such as Lab901, Centeo, Ocutec, and XstalBio.   Projects have included specifying target markets for technology applications in medical devices and diagnostics and identifying potential partners for commercial technology development. Another project defined essential product features for a strategic product development plan, which formed part of a business plan supporting discussions with funders and potential commercial partners. We talked to potential customer groups in Europe, the UK and the US, evaluating features relevant to price points.  

A spin-out from an established business required work on  target markets and companies, management and staffing structures, financial systems, costs and pricing, capital investment and funding.

Unfortunately on occasion I have to tell people that their proposition is commercially unrealistic and un-fundable. If the product specifications are completely wrong for the proposed application, it can be remedied by discussions with potential end users (otherwise known as customers), and the situation saved by re-focussing and concentrating on what is commercially realistic. Sometimes the market is non-existent or too small to be commercially viable. If it really is not going to work, it is better to hear it now from me, rather than later when they have wasted time, resources, energy and money.

Q: What's on the cards for the next few months?

A: We are already active throughout Scotland, but in some areas more than others. We want to increase awareness of LSBAS throughout the whole Life Sciences sector in Scotland, including companies, universities and Enterprise Agencies. Issues around funding will also take up some of our time.

I will be in France, Germany and Switzerland with European companies and also further developing my networks of contacts.   A couple of evenings a week I can be found at the Goethe-Institut and the Alliance Française maintaining my fluency in German and French.

Q: What would you do if you weren't doing this job?

A: It's hard to imagine as I like to try and spot the products of the future and enjoy being  involved in turning science and technology into money!

My Kebris work is also varied and includes international projects, work on MDIS panels helping medical device companies, and due diligence and a reality check on business plans for start up companies. I have a particular interest in European Life Sciences and commit time and effort to developing projects in this area.

I would certainly have more time for baking bread which I learned to do a couple of years ago. I would spend some time with French artisan bakers and improve my baguette baking skills. So far despite using French flour the results are just not French baguettes!

For more information or to find out how Henry can help you or your organisation

T: 0771 858 4795, E:dr_h_keogh@yahoo.co.uk