This article was originally published on Authority Magazine on Medium.com. A Medium.com account is required to view the original article.
Work hard coupled with Luck — Hard work and a bit of luck are necessary ingredients for success. The early stages of TAXIS involved relentless effort, resilience, and seizing opportunities. For instance, proving our concepts through data-driven results helped us gain investor trust and further funding. This combination of diligence, focus, and capitalizing on favorable circumstances enabled us to overcome obstacles and progress towards our goals.
Startups are at the forefront of innovation, driving change across various industries with fresh ideas and cutting-edge technologies. These emerging companies are not only disrupting traditional markets but also creating new opportunities and transforming the way we live and work. What makes these startups successful, and what can we learn from their journeys? As a part of this series, I had the distinct pleasure of interviewing Greg Mario, MBA, CEO of TAXIS Pharmaceuticals.
Greg Mario, MBA, is CEO of TAXIS Pharmaceuticals, an early-stage biotech company focused on the development of combination therapies intended to restore the efficacy of already approved but no-longer-effective antibiotics. Greg has more than 20 years’ experience in life sciences in sales, marketing, biz dev, and licensing/acquisition roles. He holds a BS in Biochemistry and an MBA in finance and is passionate about finding a solution to the global antibiotic resistance epidemic.
Thank you so much for your time! I know that you are a very busy person. Can you tell us a story about what brought you to this specific career path?
From a young age, I was captivated by science. Physics, chemistry, and math were not just subjects in high school; they were my passion, igniting a curiosity that propelled me forward. As I prepared to leave for college in 1984, I envisioned a future in medicine, driven by a deep desire to heal and improve the human condition.
However, life has a way of steering us towards paths we might not have anticipated. During my time at Duke University, I discovered the Fuqua School of Business, where a new vision began to take shape.
While I ultimately shifted away from a traditional medical career, my core passion for advancing human health remained unwavering. The Fuqua School of Business provided a unique lens through which I could view the world of healthcare — one that combined my love for science with strategic thinking and innovation. It was here that I found my true calling: the life sciences and drug development sector. Instead of treating individual patients, I became part of a larger mission to develop groundbreaking therapies and medicines. This career path offered me a way to impact countless lives, addressing some of the most challenging health issues of our time. My journey from aspiring doctor to a leader in life sciences drug development is a testament to the power of following one’s passion, even when it leads to unexpected destinations.
Today, as the CEO of TAXIS Pharmaceuticals, I lead a brilliant team of scientists and researchers who are working on developing therapies intended to address the root cause of antimicrobial resistance (AMR, also called antibiotic resistance). We’re developing combination therapies that, when used in conjunction with already-approved antibiotics for which bacteria have built up resistance, have the potential to restore their efficacy.
Can you share the most interesting story that happened to you since you began at your company?
I’d love to share the story of how I found my way into this career. It began around 2009–2010, during a rather tumultuous time in the pharmaceutical industry. The market conditions were tough — financials were shaky, and major pharmaceutical companies were consolidating. It was during this period that Pfizer acquired Wyeth, and along with that merger came a remarkable opportunity for us. When Pfizer took over, they made the decision to liquidate a lot of their excess equipment, which created an unexpected windfall for us as a new startup. We learned about this through an online liquidity services marketplace, a platform where scientific equipment is auctioned off. It felt a bit like a scientific garage sale — a unique chance for emerging companies to acquire the tools needed for success.
I can vividly remember the day I went to the Wyeth facility in Monmouth Junction, NJ. I packed up my large SUV — my four children often joked about how I had more lab glassware than we had toys. I made multiple trips, filling the vehicle to the brim with high-quality lab equipment that would have otherwise cost hundreds of thousands of dollars. I’ll never forget the feeling of exhilaration seeing my chemists practically giddy as they sifted through the various glassware and instruments, each piece worth a couple grand. It was like watching kids in a candy store!
What made it truly special was knowing that during a time when big giants were scaling back, we could build our lab from the ground up without breaking the bank. Every piece of glass that made a clink on the floor had me holding my breath, but in the end, we were able to establish a fully functional lab at little to no cost. That pivotal moment not only laid the foundation for our company but also reinforced my belief in the power of perseverance and seizing opportunities, even in challenging times.
Reflecting on that experience, it’s incredible to see how those circumstances helped shape my career path, allowing us to grow and innovate in ways we had only dreamed of when we were starting out. That’s the power of adaptability in the face of adversity — something I carry with me every day in this line of work.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
When we first ventured into the biotech industry, we teamed up with another Rutgers alum who specialized in x-ray crystallography. This technique uses a large and powerful machine to determine the atomic and molecular structure of a crystal, seemed like a game-changer. We only had access to the machine on weekends, which added a unique challenge to our endeavor.
With high hopes, we embarked on a journey, targeting specific proteins to develop new treatments. However, our initial foray turned out to be a spectacular failure. After investing a considerable amount of time and resources, we realized that we had gone down the wrong path. It was a tough pill to swallow.
Reflecting on this experience, it’s clear that one of the biggest lessons learned was the importance of maintaining a skeptical and scientific approach. I’ve always been optimistic in my personal life, but in research and development, I operate on the null hypothesis: assume it doesn’t work until proven otherwise. This mindset is crucial because it pushes you to rigorously test and validate your assumptions. If the evidence doesn’t support your hypothesis, you need to be ready to pivot or abandon that line of inquiry entirely.
This experience reinforced the importance of being willing to walk away from projects that aren’t yielding results, no matter how much has been invested. It’s a critical component of success in this field.
What are some of the most interesting or exciting projects you are working on now?
We are at the forefront of developing innovative solutions to combat one of the most significant threats to global health today — antibiotic resistance.
Our lead candidate is focused on efflux pump inhibitors (EPIs) — compounds which, when delivered in combination with already-approved antibiotics, are intended to inhibit the bacterial cellular processes that cause antibiotic resistance, enabling the antibiotics to be effective in fighting off the bacteria they target.
Earlier this year, the NIH’s National Institute of Allergy and Infectious Disease (NIAID) awarded TAXIS a $2.67 million grant to advance our EPI research. Specifically, the grant will be used to complete lead optimization of TAXIS Pharmaceuticals’ investigational EPIs in combination with the antibiotic levofloxacin, which is commonly used to treat deadly Pseudomonas aeruginosa infections. Pseudomonas aeruginosa can cause hospital-acquired pneumonia (HAP) and a subset of that condition, ventilator-associated pneumonia (VAP). HAP is the most common healthcare-associated infection in the United States and can result in high morbidity and mortality rates and substantial healthcare costs.
You are a successful leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
Honesty, integrity, and perseverance have been the cornerstones of my journey.
To me, honesty means that when I don’t know the answer to a question, I never make something up. Instead, I reach out for advice, learn, and then apply what I’ve learned.
Integrity is crucial — you can spend a lifetime building credibility, dependability, and trustworthiness, but it only takes a moment to lose it all, so I stay disciplined and committed every day.
Perseverance has been vital, especially in building a startup with a big vision. I’ve heard “No” more times than I can count, but each rejection is a learning opportunity. I believe “No” often means “Maybe” and never give up.
Ok super. Thank you for all that. Let’s now shift to the main focus of our interview. What was the initial inspiration behind your startup, and how did you turn that idea into a reality?
I know I sound like a broken record, but antimicrobial resistance is an existential threat to societal health, posing a risk that could far exceed the devastation caused by COVID-19. We witnessed firsthand the global disruption a pandemic can cause, but bacterial “superbugs” have the potential to make COVID seem like a walk in the park. This looming threat was the driving inspiration behind our startup.
Our mission is shaped by a very simple philosophy: make a positive impact, create value, and deliver a significant return on investment. Turning this vision into reality involved several key steps. First, we recognized the urgency of the AMR crisis and the need for innovative solutions. This led us to focus on developing advanced therapeutics that could combat resistant bacteria effectively. We assembled a team of experts in microbiology, pharmacology, and drug development, leveraging their collective expertise to push the boundaries of current research.
Can you describe a significant challenge your startup faced and how your team overcame it?
All startups — and all businesses — face many challenges. It’s part of work, and part of life. I believe that the strong team we’ve built, the passion for saving lives and fighting antimicrobial resistance, and the honesty, integrity, and perseverance I spoke about earlier are what has allowed us to push through all the challenges so far, and will propel our success going forward.
What strategies have you found most effective in scaling your startup and reaching a wider audience?
“Hire Slowly, Fire Quickly” — At TAXIS, we firmly believe in the principle of “hire slowly, fire quickly.” This approach enables us to carefully select team members who not only possess the right skills but also align seamlessly with our company culture. We understand that having the right people on board is crucial to our success.
“Let Data Drive Our Bus” — The phrase “the data drives the bus” embodies our commitment to making informed decisions based on evidence and analytics. By leveraging data, we are equipped to navigate the complexities of our industry and make strategic choices that propel TAXIS forward.
In the early years of TAXIS, I knocked on countless doors to build relationships and establish our presence. Now, as we transition from a purely scientific focus to embracing marketing, business development, and sales, we are harnessing the power of social media to enhance our outreach and engagement.
These strategic shifts have positioned TAXIS exceptionally well for success in today’s competitive landscape. We are excited about the future and the opportunities that lie ahead.
How do you foster innovation within your company to stay ahead of the competition?
Unlike many high-profile pharma and biotech companies that have pursued ‘me too’ antibiotics, we at TAXIS have no interest in taking that route, especially given that many of those companies are now out of business. At TAXIS, we are dedicated to driving transformational change by tackling the root causes of AMR.
To illustrate this, consider the analogy of dealing with dandelions in a lawn: if you only cut the flower without removing the root, it will inevitably grow back. Similarly, our approach at TAXIS is to address and eliminate the underlying issues contributing to AMR. By focusing on the root causes, we believe we can develop solutions that not only meet the immediate challenges but also ensure long-term sustainability in combating infections.
Ok super. Here is the main question of our interview. Based on your opinion and experience, what are your “5 Things You Need to Create a Highly Successful and Innovative Startup” and why?
1. Clear mission and strategy — Having a clear mission and strategy is crucial for guiding your startup towards success. During my time as brand manager for a big pharma company, we had a significant budget and a multibillion-dollar drug. I was passionate about promoting its quality-of-life benefits, despite legal pushback. This experience taught me the importance of staying true to your mission and finding ways to communicate it effectively. For us at TAXIS, the mission is clear: to tackle antimicrobial resistance by targeting bacterial resistance mechanisms with innovative solutions like efflux pump inhibitors.
2. Differentiating from the competition — It’s vital to stand out in the marketplace. When we started TAXIS, I was determined not to create just another antibiotic. Instead, we aimed to develop anti-resistance solutions. By focusing on the root causes of resistance, like efflux, and creating efflux pump inhibitors (EPIs), we positioned ourselves uniquely. This approach secured $6 million in non-dilutive funding from CARB-X and NIH, validating our breakthrough and transformational innovation over mere incremental improvements.
3. Building a team and environment for success — A successful startup requires a strong team. Back in 2010, when the industry was still reeling from the 2008 market crash, it was a challenging environment in which to raise money but an advantageous one for hiring talented people. I was transparent with potential hires about the high-risk nature of our venture and offered them stock options. Creating an honest and supportive environment where team members had flexibility and mutual respect, especially in a volatile market, was key. This approach helped build a dedicated team willing to take risks for potential high rewards.
4. Funding — Securing funding is critical for sustaining a startup. Early on, I personally funded TAXIS due to initial uncertainties. Confidence played a significant role in attracting investors. During challenging times, such as the recent COVID-19 pandemic and inflation, maintaining confidence and demonstrating progress were essential. Despite the economic downturn, we secured third-party validations and continued to build our credibility, raising significant funds by consistently delivering on promises.
5. Work hard coupled with Luck — Hard work and a bit of luck are necessary ingredients for success. The early stages of TAXIS involved relentless effort, resilience, and seizing opportunities. For instance, proving our concepts through data-driven results helped us gain investor trust and further funding. This combination of diligence, focus, and capitalizing on favorable circumstances enabled us to overcome obstacles and progress towards our goals.
More than four out of five startups fail. What have you done to break out from that pattern, and be successful when so many others have not?
At TAXIS Pharmaceuticals, we’ve managed to defy these odds through a combination of strategic approaches and innovative science. Our success can be attributed to several key factors:
First, our unique approach to drug development sets us apart. We focus on addressing the root cause of AMR.
Second, we leverage world-class science and cutting-edge technologies.
Another critical element of our success is our exceptional team. We have assembled some of the best minds in drug discovery and development, experts who bring a wealth of experience and knowledge to our projects. This team is dedicated to pushing the boundaries of what is possible in combating AMR, driving innovation and excellence in every aspect of our work.
And finally, our strategic partnerships and collaborations have been instrumental in our success. By working closely with academic institutions, industry partners, and regulatory bodies, we ensure that our development processes are informed by the latest scientific insights and aligned with the highest standards of regulatory compliance.
Because of the role you play, you are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
If I could inspire a movement to bring the most amount of good to people, it would be to eradicate superbugs and overcome antimicrobial resistance. COVID-19 was a warning shot, but it’s bacterial infections — these superbugs — that pose a more persistent and deadly threat.
These bacteria have been around since before humans and will outlast us if we don’t act. We’ve seen the catastrophic potential of pandemics, but superbugs could make such crises ten times worse.
For over a century, we’ve relied on antibiotics to keep infections at bay, supporting everything from surgeries to cancer treatments. However, with increasing antibiotic resistance, simple infections could become fatal, threatening the very foundation of modern medicine.
I want to lead a movement that ensures effective antimicrobial control, keeping people healthy and extending lives. By tackling AMR head on, we protect not just our generation but countless future generations from preventable infectious diseases.
This was really meaningful! Thank you so much for your time.
About the Interviewer: Dina Aletras boasts over 20 years of expertise in the corporate media industry. She possesses an in-depth understanding of growth, strategy, and leadership, having held significant roles at some of the UK’s largest media organizations. At Reach PLC, the UK’s largest tabloid publisher, she served in various director capacities. Additionally, she held leadership roles at The Independent Magazine Group and DMGT. Her extensive knowledge spans editorial, digital, revenue, sales, and advertising. Upon relocating to Switzerland, Dina took on the responsibility of managing and promoting the international section of Corriere del Ticino — CdT.ch pioneering the English page “onthespot.” She also was the Co-Editor of Southern Switzerland’s first official Italian and English bilingual magazine.
This article was originally published on Authority Magazine on Medium.com A Medium.com account is required to view the original article.