Manager - Business Development

Mayo Clinic • Rochester, MN

19d • $134,300 - $194,700 • Hybrid

About The Position

The Manager - Business Development directly supports the mission of Mayo Clinic Business Development. The role combines individual-contributor work with leading portions of projects, activities, deals, opportunities, and other departmental work. The Manager communicates assigned-work status to department leadership, may represent the department in meetings with Mayo Clinic departments, leadership, or external entities, and helps manage workflows and resources to achieve project outcomes. Duties include project management.

The department has four Work Units: Partnerships, Commercialization, Technology Development, and Investments. Partnerships work includes sourcing, evaluating, analyzing, and developing opportunities such as partnerships, joint ventures, spin-offs, investments, mergers, and acquisitions in alignment with Mayo Clinic strategy and market opportunities. Commercialization work evaluates the commercial potential of medical inventions and discoveries; develops technology sales and marketing plans; manages patent processes; identifies commercial partners; negotiates licensing and other arrangements; manages industry relationships; and advises physicians and scientists on intellectual property and technology-based business matters. Technology Development work supports development and commercialization of Mayo Clinic technologies through collaboration with staff, external companies, entrepreneurs, and investors; technology and market assessment; intellectual property support; preparation of promotional materials; industry monitoring; and coordination of project plans and stakeholders. Investments work involves sourcing, evaluating, and executing strategic and financial investments, portfolio management, financial analysis, diligence, and post-deal activities.

This posting is specifically for biopharmaceutical and diagnostic technology development. Depending on departmental needs, the position is assigned to one Work Unit and typically two Work Teams, which may include Biopharmaceuticals, Medical Devices, Diagnostics, Health Information Technology/AI, Health Services & Robotics, or Investments. This is a hybrid position located within 100 miles of Mayo Clinic Rochester.

Requirements

• A master's degree in business, science, or a related relevant field, or an advanced degree such as a PhD, MD, or JD, plus two years of specific experience related to the role and area of work; alternatively, a bachelor's degree and a minimum of four years of parallel experience.
• For Commercialization Work Unit roles, three years of experience directly related to technology licensing.
• Applicable experience may substitute for degree requirements as described in the posting: four years for a bachelor's degree, two years for a master's degree, and two years for an advanced degree.
• Experience relevant to business development, finance or venture capital, technology transfer, venture management, intellectual property commercialization, licensing, patents, partnerships, business-to-business collaborations, investments, start-up companies, or sourcing partnering opportunities in health care, medical/biotechnology, or financial/venture capital industries.
• Ability to perform successfully in business development or technology commercialization and navigate complex inter- and intra-organizational issues and relationships.
• Excellent verbal and written communication skills and ability to interact with people from diverse backgrounds.
• Strong project management and time management skills, including the ability to manage several initiatives simultaneously.
• Entrepreneurial or intrapreneurial qualities, strong analytical skills, resourcefulness, and ability to work independently on assigned projects.

Nice To Haves

• Depending on assignment: business plan creation, due diligence, market research, marketing plan development, concept analysis, business model development, financial pro-forma development and analysis, legal or regulatory issues assessment, monitoring product or operating-unit performance, technical sales, medical technology evaluation, negotiations, or contract drafting.
• Experience evaluating the scientific and commercialization potential of cutting-edge technologies.
• Knowledge of science, clinical or bench research, business principles, and laws and regulations related to patenting and licensing inventions.
• Experience with an organization or role directly related to one or more of the relevant Work Teams.
• Experience with an academic medical center or equivalent setting.
• Mergers and acquisitions experience.
• Financial modeling and analytical valuation experience.
• Chartered Financial Analyst certification, complete or in progress.
• Experience with a national consulting firm in related functional areas or industries.

Responsibilities

• Support the mission of Mayo Clinic Business Development as an individual contributor and lead portions of projects, activities, deals, opportunities, and other departmental work.
• Communicate the status of assigned work to department leadership and, as warranted, represent the department in meetings with Mayo Clinic departments, leadership, and external entities.
• Help manage workflows and resources to achieve desired project outcomes and perform project management duties.
• Depending on Work Unit assignment, source, evaluate, analyze, and develop business opportunities, including partnerships, joint ventures, spin-offs, investments, mergers, and acquisitions.
• Depending on Work Unit assignment, evaluate the commercial potential of medical inventions and discoveries; develop commercialization plans; manage patent processes; identify commercial partners; negotiate license agreements; and advise on intellectual property and technology-based business matters.
• Depending on Work Unit assignment, identify, evaluate, and support the development of technologies; collaborate with physicians, researchers, and cross-functional teams; support invention disclosures and intellectual property strategy; and conduct feasibility, market, and competitive assessments.
• Prepare materials to communicate and promote technologies to internal and external audiences, monitor industry trends and emerging technologies, and support compliant technology development processes.
• Support the planning and execution of technology development and commercialization projects, including defining scope, timelines, and deliverables and coordinating internal and external stakeholders.
• Depending on Work Unit assignment, originate, evaluate, and execute investments; conduct financial modeling, valuation, scenario analysis, and diligence; facilitate investments aligned with Mayo Clinic strategy; and manage post-deal governance and reporting.

Benefits

• Competitive compensation and comprehensive benefit plans.
• Multiple medical plan options.
• Dental coverage through Delta Dental or a reimbursement account for flexible coverage.
• Vision plan with a national network.
• Health Savings Account and Flexible Spending Accounts for eligible expenses.
• Competitive retirement package.
• Continuing education and advancement opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager