Identifies, develops and launches innovative products and services. Directs the assessment of technologies, development of strategies to maximize value to Cleveland Clinic. Monitors marketplace evolution and ensures that relevant and financially viable products are developed. Responsible for key business processes within the domain include product innovation and development, market research, financial analysis and implementation planning.
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- Creates the direction for product development strategy in Life Sciences.
- Develops and oversees execution of product strategy and roadmap in collaboration with key stakeholders.
- Working with CCF inventors, develops new product innovations for and creates new product approaches for the emerging healthcare markets.
- Works with cross-functional team members to develop a strategic plan for a portfolio of inventions.
- Creates the portfolio by directing the overall selection of development of technologies within the domain with responsibility of increasing value of technologies identified for commercialization.
- Directs innovation process from invention assessment through development, identification of industry or start-up company partners and ultimately commercialization.
- Works with a cross-functional team in the structuring and funding of commercialization projects.
- Develops patent strategy, in partnership with legal counsel, and manages the patent portfolio.
- As appropriate, works with CC Ventures to identify opportunities to create start-up companies for portfolio technologies.
- Identifies strategies to proactively address anticipated and actual market challenges.
- Acts as the expert on related products in the marketplace, monitors market trends, technology developments, and competitors in related spaces.
- Aligns feasibility, business goals, and expected new product performance.
- Develops and evaluates regulatory policies and innovative payment approaches to participate in government-sponsored or initiated programs.
- Identifies innovative tactics, corresponding business plans and sustainable operations to drive revenue and volume growth while meeting the market's needs.
- Working with cross-functional team, uses market data to direct financial and valuation modelling; Develops commercialization term sheets based on financial/valuation modelling and market comparables.
- Negotiates commercial agreements.
- Follows up with industry partners on a regular basis to ensure they are on track with development milestones and payments.
- Other duties as assigned.
- Master’s degree or higher in relevant field is required.
- This individual should be highly entrepreneurial with a history of leading new program launches and a successful personal track record.
- This individual should have a highly collaborative approach and ensure appropriate buy-in from a large number of key stakeholders.
- This individual should be a highly effective communicator and open to learning from others and rethinking current efforts.
Complexity of Work:
- Requires critical thinking skills, decisive judgment and the ability to work with minimal supervision.
- Must be able to work in a stressful environment and take appropriate action.
- Minimum 10 years of experience in any of the following is required: product development, product management, and/or business development.
- Experience in Life Sciences.
- Excellent problem solving, and communications skills; solid business instincts.
- Proven leadership skills and the ability to take ownership for results.
- Demonstrated ability to lead projects as well as ability to work independently.
Personal Protective Equipment:
- Follows Standard Precautions using personal protective equipment as required for procedures.
Keywords: product development, life sciences, commercialization, pharmaceutical, innovation, strategy