Partner Rx: The Innovative Business Development Partnering Website

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PartnerRX is a dynamic membership only web site dedicated to Business Development organizations in the Life Sciences community. For less than the cost of attending one industry conference, you will be in contact with a community of buyers and sellers who are interested in partnering. Partner Rx is designed to simplify the partnering process and maximize your potential to find the right partner. Below is our interview with Diane M. Ahearn, CEO and Founder of PartnerRX:

Q: Diane, how would you describe PartnerRx in your own words?

A: PartnerRx is a website designed for the bio-pharm, device and consumer business development professional. We focus on the early part of the business development process. Partner Rx focuses on bringing buyers and sellers together by enabling companies to post opportunities or search opportunities that may be a strategic focus for them.

Company solicitation is often time consuming and in many cases yields limited results and interest. This is the most critical part of the partnering process. At the same time searching for the right opportunity or partnership is sometimes a painstaking process that includes many phone calls and significant business analytics resources.

PartnerRx is a forum where the BD professional can post information on assets they are looking to divest or products and technologies they are look looking to out license.

Partner Rx also enables companies to post co-marketing, co-promotion opportunities for assets within their current portfolio. Partner Rx can be described as a Partnering Forum on line that provides you up to date opportunities in real time across the Life Sciences spectrum.

This includes Pharma assets from the pre-clinical stage all the way through marketed or established products. Partner Rx is a confidential and secure network and will be used as another tool for the business development professional to add to their armamentarium.

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Q: What inspired you to start working on PartnerRx?

A: I inherently have an innovative and entrepreneurial spirit. I worked in the industry for many years and have always been interested in looking for a more efficient and more productive way to do things.

I believe that PartnerRx is a great example of a new way business development professionals can more efficiently and quickly search opportunities or post opportunities.

I know how frustrating it is to get 20-30 phone calls a week from companies inquiring about available assets and Partner Rx can help both the buyer and seller be more efficient by reducing the heavy e-mail and phone traffic we find ourselves in on a daily basis.

Subscribers to Partner Rx are motivated. Whether they are on the sell side or buy side as a member they are communicating that they are serious about either searching or partnering assets.

Q: Could you tell us more about your key features?

A: PartnerRx is very easy to navigate and its intuitive structure makes it very easy to get started and use. With a few clicks of your mouse you can post offers and opportunities.

Our enhanced filters allow the user to easily search for opportunities based on their strategic interest. Filters include partnership types which include in-licensing, co-promotions and acquisitions. The Categories filter allows searches in the Consumer, Device and Pharmaceutical sectors. Users can search on pharmaceutical opportunities by stage including pre-clinical opportunities, Phase I, Phase II, Phase III and currently marketed. Finally users have the ability to choose the therapeutic area of interest for opportunities they’re searching for.

Another great feature of the site is the ability for the user to post a detailed summary of the opportunity they are posting. Drop down boxes offer the user a fast and efficient way to post their opportunity. Finally you have the ability to upload non-confidential summary memorandums or other information that would provide additional detail. The offer listing can be edited and updated at any time. Once an offer is posted the user has the ability to inactivate the opportunity with a simple click which makes it invisible to searches.

In addition, we have a global reach. The website allows easy access for all companies across all geographic areas to easily communicate with each other. There are companies in Asia, Europe, Latin America and North America that are seeking partnering opportunities with each other. We already have companies from North America and Europe as subscribers.

Our website has a seven- minute tutorial which will help all users get started. Our news and media tab allows everyone to view our recent press releases and additional media information about Partner Rx.

Visitors have the ability to download our brochure for additional information and with a simple click of their mouse contact us with a message.

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Q: How would you convince the reader to start using PartnerRx?

A: Partner Rx is a cost effective and efficient way to supplement your current process for company solicitation and partner selection.

A single user subscription is sometimes less than an airline ticket to a partnering meeting and many times less that the attendance fee for some industry conferences. In addition it provides the business development professional the most current partnering opportunities that are available.

Business development professionals can’t rely on being contacted by other companies. Subscribers have the benefit of seeing opportunities posted in real time. Partner Rx will decrease the incidences of being late to the process for many companies.

Partner Rx also has a mobile friendly user interface. Subscribers can check on postings right from their mobile devices while traveling. Business Development professionals know how much time and effort it takes to search for opportunities. This is an excellent tool to add to their armamentarium of search methods currently used.

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Q: What is your business model?

A: Partner Rx is a subscription-based model. Companies and their business development professionals are provided access to our secure confidential site though a one-year user subscription which can be renewed on a yearly basis. Business development professionals can sign up for a 1-year subscription, which gives them the ability to list opportunities as well as search for opportunities. We specialize and focus on the partner selection phase of the process.