Richard H. Brudnick
`2 Stonecleave Lane
`Swampscott, MA 01907
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`e-mail: Richard.Brudnick@gmail.com
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`Phone: 617-947-1132 (cell)
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`SUMMARY
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`Accomplished biotechnology business development and strategy professional with a strong record of
`identifying, leading and completing significant transactions across multiple stages of development,
`therapeutic areas, and transaction types including acquisitions, joint ventures, in-licensing, out-licensing
`and divestitures. Significant record of achievement leading cross-functional efforts within large and small
`biotechs, including transactions which now include many of Biogen’s marketed products and late stage
`pipeline. Outstanding analytical, communications, and management skills; a developer of people and teams
`and a successful entrepreneur with a breadth of leadership and operating experience including P&L
`responsibility in a variety of pharmaceutical and biotech settings.
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`PROFESSIONAL EXPERIENCE
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` Aug 2014 – present
`Senior Vice President, Corporate Development & Strategy, Biogen Inc.
`Led and built an expanded business development function including search & evaluation, commercial
`evaluation, and transaction negotiation and execution. Initiated and led two executive decision making
`forums, one with R& D senior leadership to provide input and approval on deal selection, diligence, and
`prioritization and one with the Biogen senior executive team to review and approve business development
`deals and to advance larger deals to the Biogen Board of Directors for review and approval. Presented
`major transactions to the Board’s Science & Technology committee as well as to the full Board for review
`and approval. Initiated, led and completed the acquisition of Convergence Pharmaceuticals ($200M upfront
`and $675M total); venture investments in the Israel Biotech Fund and UK Dementia Fund; and oversaw the
`department’s successful completion of multiple investments and collaborations in gene therapy, gene
`editing and single asset option to purchase deals.
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` Oct 2011-Aug 2014
`Vice President and Co-Head, BD/M&A Biogen Idec Inc.
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` Jul 2009 – Sept 2011
`Senior Director, Business Development, Biogen Idec Inc.
`Co-led business development function including hiring and team development; led initiation, negotiation
`and completion of major deals and coached team members to advance and complete other transactions. Led
`and completed multiple licensing, investment, and joint venture transactions including two licensing
`collaborations ($41M upfront and $570M total) and a discovery collaboration ($30M upfront and $600M
`total) with Ionis Pharmaceuticals; a major strategic neurology collaboration with Ionis ($100M upfront,
`$3B total); a Ph 3 Alzheimer’s collaboration with Eisai ($100M upfront, $1.1 billion total); a biosimilars
`joint venture with Samsung resulting in the creation of Samsung Bioepis ($300M initial capitalization);
`multiple strategic biologics manufacturing and technology development agreements; a JCV diagnostic
`commercialization agreement with Quest Diagnostics to support clinical use of Tysabri; acquisition of
`Panima Pharmaceuticals including three antibodies for neurodegenerative disease ($32M upfront and
`$428M total); restructuring of a collaboration agreement with Swedish Orphan Biovitrum providing Biogen
`with independent control of the development of two long acting hemophilia factors; in-license and equity
`investment of a Ph 3 ALS compound with Knopp Pharmaceuticals ($80M upfront and $345M total); a
`biosimilar distribution agreement with Samsung Bioepis; divestiture of a commercialized oncology product
`(Zevalin); sale of a royalty income stream related to Benlysta; and an equity investment and collaboration
`with Proteostasis.
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` Mar 2008 – July 2009
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`Vice President, Business Development, CombinatoRx Inc
`Publicly traded biotech pioneering the field of synergistic combination pharmaceuticals.
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`Assisted with strategic review of options and contributor in efforts leading to merger with Neuromed. Led
`and completed strategic alliance with Novartis focused on discovery of novel oncology combinations,
`including $10 million in upfront & multi-year research support funding, and up to $58 million in milestones
`per combination, including significant retention of IP rights by CombinatoRx. Led development and
`execution of partnering strategy and licensing efforts, provided BD input to IP and portfolio strategy and
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`Biogen Exhibit 2023
`Coalition v. Biogen
`IPR2015-01993
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`represented company at major conferences and industry events.
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` May 2006 – Feb 2008
`Sr. Director, Portfolio Strategy & Business Development, Biogen Idec Inc.
`Global biotechnology company focused on neurology, oncology, rheumatology and cardiovascular
`markets, formed through the 2003 merger of Biogen Inc. and Idec Pharmaceuticals Inc.
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`Led the identification and evaluation of major portfolio strategy issues and opportunities, and was
`responsible for providing recommendations to the Portfolio Committee as well as managing the Portfolio
`Committee's agenda and meetings. Led efforts to effect transactions resulting from Portfolio Committee
`decisions as well as other business development opportunities in support of external growth goals. Reported
`to EVP of Corporate & Business Development and to the EVP of Portfolio Strategy.
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`Conceived, designed and successfully implemented new portfolio management process and approach to
`address lack of organizational confidence in previous approach. Conducted cross-functional prioritization
`of development portfolio, highlighting issues and providing actionable recommendations. Managed
`Portfolio Committee (executive officer/CEO level committee) and provided portfolio recommendations on
`internal and external development programs and opportunities
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`• Conceived, initiated and led proposal to enter new therapeutic area by developing three clinical
`stage programs in new indications, either via internal development or external partnership.
`o Developed economic, clinical, commercial rationale and plans
`o Developed potential spin-off/buy-back structure with major VC
`o Presented options and recommendations to Portfolio Committee
`o Recommendation approved to advance programs internally
`• Led and negotiated out-license of Ph 1 αvβ6 to Stromedix for milestones, equity and board status
`Initiated and co-led strategic review of company’s largest business area, MS, resulting in
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`identification of and agreement on a strategy and key initiatives to ensure enduring leadership
`• Conceived, initiated and led ‘technology road mapping’ process to drive research strategy for
`HSP90 program, potentially generating 5 development transition candidates in 12-15 months at
`significant cost and time reduction versus company’s SOP.
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`Jan 2005 to April 2006
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`Senior Director of Business Development, Biogen Idec Inc.
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`• Led, negotiated and completed divestiture of AMEVIVE® ($60 million plus future compensation)
`• Member of BD team completing 3 product, $800M deal with PDL, announced in August 2005
`• Led, negotiated and successful concluded out-partnering of clinical stage program
`• Structured and led negotiations for major international collaborations
`• Manager, Strategic Opportunities Committee
`• Additional responsibilities for portfolio management Q4 2005, manager Portfolio Committee
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`Director of Corporate Development, Biogen Idec Inc.
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` Jan 2003-Dec 2004
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`• Sourced, led evaluation, valuation, diligence, and negotiations resulting in completed in–licensing
`from a small, private Swiss company of Phase III oral small molecule with > $1 billion potential.
`Now in clinical development for psoriasis and MS, with technical rationale in numerous other
`autoimmune and inflammatory indications. Completed deal in 4 months from my initial contact of
`company.
`• Led and completed additional transactions relating to above including additional geographic rights
`and life cycle management oriented formulation deals.
`• Led effort and negotiations resulting in oncology collaboration with Idec Pharmaceuticals,
`including multiple clinical and pre-clinical stage programs. This collaboration proved to be the
`basis for the subsequent merger between and Biogen and Idec. Completed deal in 3 months.
`• Responsible for ongoing global business development efforts in dermatology and
`immunomodulatory therapeutic areas.
`• Responsible for ongoing identification, evaluation and pursuit of M&A opportunities.
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`• Regular participant in and contributor to Investment Committee consisting of CEO, CFO, CMO
`and other executive management.
`• Maintain ongoing relations and discussions with investment bankers for M&A. opportunities.
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`Associate Director, Business Development , Biogen Inc
`Oct 2001-Dec 2002
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`• Led diligence effort for Ph III anti-TNF, member of contract negotiating team.
`• Developed strategic framework for identifying and evaluating M&A opportunities, bringing order
`and purpose to prior efforts that had been episodic. Presented to and endorsed by Executive
`Committee. Led ongoing effort to identify and evaluate M&A opportunities with desirable
`strategic and financial impact.
`• Led evaluation of global dermatology pipeline to identify in-licensing opportunities.
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`President and Founder ARR Health Technologies, Inc. Swampscott, MA
` 1998-2001
`$3 million revenue company that identified niche health care products available only in foreign markets,
`created its own US brand and marketing programs and distributed these products through chain drug, mass
`merchandise, wholesale and food outlets.
`• Achieved profitability and national distribution of three new products within one year, including
`nearly all major health products retailers and distributors
`• Performed all financial functions, including financing, reporting, and international letters of credit.
`• Organized and operated the company as virtual, with major operating functions outsourced. The
`resulting flexibility enabled the company to focus on marketing and new product development.
`• Company sold in 2001.
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`President and Chief Executive Officer James Brudnick Company, Inc. Malden, MA 1984-1998
`$200 Million pharmaceutical distributor, a subsidiary of C.D. Smith Drug Company
`• Led this company in its profitable growth, tripling sales to over $200 million and culminating in
`sale to General Drug Company in 1994.
`• Continued to run company as division of General Drug Company, joined management committee,
`led acquisition of a new business division, and participated in the sale of General Drug Company
`at a significant profit to the limited partnership.
`• Past Chairman of National Wholesale Druggists Government Affairs Committee and member of
`advisory boards for Eli Lilly, Schering, Parke-Davis, and Boehringer-Ingelheim.
`• Served as consultant to HMO’s on drug formulary and cost containment issues, and also with
`integrated health care delivery systems on supply chain rationalization.
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`Vice President, Marketing Videotel, Inc. Woburn, MA
` 1983-1984
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`Wrote business plan, recruited team and raised venture capital for this technology start-up in the hotel
`industry. Conducted marketing leading to design and installation of on-line guest entertainment system.
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`Senior Consultant Bain & Company Boston, MA
` 1980-1983
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`Responsible for strategic consulting assignments at Board of Directors level, primarily in information
`technology and telecommunications industries.
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`Marketing Consultant Management Decision Systems Weston, MA 1977-1980
`Consulted with major consumer goods producers to determine market acceptance of new products and
`associated introductory strategies prior to test market.
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`EDUCATION
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`Master of Science in Management Science, Sloan School of Management, MIT, 1980
`Graduated in 3 semesters while working as a consultant at MDS and holding teaching assistant positions.
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`Bachelor of Science in Management Science, Massachusetts Institute of Technology, 1978
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