So you want to be a TechAtlas intern…
By Drew Biedermann, Ross Chikarmane, and Gabe Fox
Drew Biedermann, Ross Chikarmane, and Gabe Fox, PhDs, are Associates at RA Capital, all of whom were hired following successful completion of our TechAtlas internship.
January 20, 2023
RA Capital’s TechAtlas team is currently accepting summer internship applications for 2023. For twelve weeks, interns will be paired with current Healthcare Associates and mentored to perform scientific due diligence and evaluate investment opportunities. They’ll even make mini-maps covering therapeutic areas of interest and give a mock portfolio presentation pitching companies to senior TechAtlas leadership and members of RA’s investment team.
This exciting opportunity is open to anyone within one year of graduation from an advanced degree (PhD, MD, or MBA with science background; Master's in Science or related field) or within a year of finishing postdoctoral training.
Three of last year’s interns - Drew Biedermann, Ross Chikarmane, and Gabe Fox - are now permanent members of the TechAtlas team. They share their perspectives on their internship experience below.
If you could sum up your TechAtlas internship experience in one sentence, how would you do it?
Drew: Like drinking from a fire hose – in a good way.
Gabe: Drew hit the nail on the head… that’s exactly what I was going to write!
Ross: Hands-on biotech investing at the cutting edge.
Why did you decide to apply to the TechAtlas internship?
Ross: Before my internship, I had learned about RA’s signature methodology for diagramming competitive landscapes by attending the first virtual “Business of Biotech” course in 2020 (note: an expanded and updated version of this course is now available for free in RA University!). I was fascinated by this systematic approach to biotech investing, so I jumped at the opportunity to gain firsthand experience when applications opened for RA’s internship.
Drew: Biotech investors are often trying to understand whether a drug is going to meaningfully impact patients' lives, and as a grad student, I was asking similar questions about my own work. I felt there were so many variables that I didn’t understand well enough beyond the initial science - there’s preclinical and clinical development, PK/PD, trial design, competitors with alternate hypotheses, market & funding factors, commercial dynamics, IP issues, regulatory considerations, existing clinical standards of care, and more, all of which combine to determine whether good science can help patients. RA is a place that gives Associates the opportunity to see this bigger picture and apply learnings through generating newco ideas, advising portfolio companies on BD strategy, and performing public company diligence. I didn’t feel like I could get all of that at any other leading biotech investment fund.
You’ve all been hired at RA since interning for us. Did you know this was the direction you wanted to take your career before you started, or did that emerge during or after your time as an intern?
Gabe: I was pretty confident in my love for science and felt finished with benchwork. I knew that I would be looking for a job that would allow me to read, think, and write about science every day, but didn’t know exactly what that job would be. During my internship I realized I’d found what I was looking for.
Drew: I was pretty sure before I started, but trying out the role out via an internship helped confirm this. I knew I liked the work and the people I’d be working with, so I felt more certain in taking this next step and returned to finish my PhD with a job offer and start date.
Ross: I had worked on building a career at the interface of science and finance prior to RA, but my internship helped confirm that this was the right direction. Throughout my undergrad degree and PhD, I traded biotech stocks based on my own domain expertise, due diligence, and industry newsflow. Along the way, I found myself developing a set of skills that was useful to help fund the development of new medicines. I’d already had the opportunity to work with early-stage biotech startups at Johns Hopkins Technology Ventures on IP and pipeline strategy, so RA’s internship was a great fit.
Was there a specific moment during your internship when you knew you wanted to work for RA Capital?
Gabe: During my internship I was responsible for mapping out the microbiome therapeutics landscape. I was doing a PhD in microbiology and was reasonably familiar with the space but not an expert. After my internship I felt like I had a grasp on the entire universe of microbiome companies - what looked interesting, what didn’t, and how important catalysts would shape the entire field. Acquiring and mapping all of that knowledge (and being paid to do it!) was incredibly fun. I knew I wanted to keep doing it!
Ross: The “aha moment” for me occurred while working with the Oncology team to diligence a mid-cap public company and an early-stage private company within the first month of my internship. I was impressed with the level of rigor that my colleagues and supervisors used to drive investment decisions and I could see myself learning a lot from them. This was the growth environment I was looking for.
Even if a potential intern doesn’t end up working for RA, what skills from the TechAtlas internship would transfer to other career paths?
Drew: Getting better at identifying interesting companies and science will help you regardless of where you work in the biotech industry. And clear communication goes beyond biotech. You will likely also make new friends, learn a new space, and gain a greater perspective on how the drug development process works.
Ross: TechAtlas interns can expect to improve their scientific, regulatory, clinical, and financial understanding of what drives value inflection points in drug development. A broad and deep understanding of the diseases companies are tackling, the versatile approaches in development, and the steps required to get medicines into the hands of patients gives you a better understanding of where you see yourself adding the most value. That translates well to the private sector.
Gabe: I think skills like becoming an expert in a little corner of biotech, mapping out the entire landscape of therapies in a specific indication, and learning how to look at the bigger picture are transferable to consulting and corporate strategy (or anything else away from the bench).
What projects did you work on during your internship, and how did they prepare you for the work you’re doing now?
Drew: I joined RA colleagues in meetings with companies we might invest in and learned how to quickly grasp what a company is working on, then identify and ask key questions that could get us to a yes or no. One of the companies I helped work on actually led to an investment down the road. I also learned a lot about clinical oncology, immunology, and drug development while mapping approaches to reverse immunosuppression in the tumor microenvironment – which were mostly outside of my PhD expertise in vaccines. I still use a lot of the learnings from my internship to investigate interesting oncology and vaccine companies and help brainstorm new company ideas.
Ross: I updated our immuno-oncology map, evaluated several investment opportunities in the space, and did a deep dive on the most promising drugs as a final project. The internship gave me a good sense of RA’s communication style and culture, in addition to key skills that are specific to the role (i.e., getting up to speed in a disease area such that you can rigorously evaluate the investable opportunities).
What do you like most about your job as a TechAtlas Associate?
Ross: I most enjoy connecting with founders and management teams who are developing creative solutions to improve the lives of patients. Health and wellness is the key value-add of the biotech industry and it’s rewarding to be able to drive that process forward.
Drew: I think the learning rate for TA Associates is higher than most other paths available to recent grads. I get to work with and learn from really bright people every day (both at RA and the companies we interact with) about some of the most cutting-edge areas of biotech. Associates are also encouraged to continuously learn new spaces, so you're often engaged and challenged. For anyone wanting to understand how to identify or initiate impactful biotech innovations, I think this role offers you a front row seat to learn and the mentorship to grow into those roles.
What advice would you give someone applying to the TechAtlas internship?
Gabe: Try to think about the big picture. A drug might look very cool at first glance, but how does it compare to what’s already out there? How good is its efficacy in comparison to existing therapies? Will it be relegated to third- or fourth-line due to the availability of generics? If so, how many patients will actually take it? How convenient is the route of administration compared to existing options? How strong is the IP? Will payers pay for it? Etc. Leave no stone unturned.
Drew: Keep following the science. You can read industry news, join a biotech or biotech investing club at your school, or start following biotech Twitter. Try to understand companies people are following, what the company and investors are looking for, and predict what you think will happen. Communicate key points concisely.
Ross: The best way to know if something is right for you is to try it out. RA works with healthcare companies across the full spectrum of growth and capabilities, so really take the time to explore this environment and connect with colleagues.
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