Launching a drug development company with novel technology from academia
Our corporate group has worked with hundreds of entrepreneurs at this stage to help them optimally and efficiently select and form the appropriate legal entity
Multiple locations | posted
Faber Daeufer & Itrato (www.faberlawgroup.com) is a dynamic, independent law firm providing sophisticated, customized, transactional counsel for life sciences clients in the US and globally. Since its founding in 2003, we have built a premier boutique practice working with over 2,000 companies, research institutions and investors. Our firm includes 26 lawyers and 10 contracts specialists and paralegals and has primary offices in Boston, New York and the San Francisco Bay area.
Our firm is a growing and diverse team of professionals whose collective experience handling life science business transactions, in many cases leveraging prior in-house operational knowledge, is extraordinary in a law firm. We will maintain our established standards of excellence by hiring individuals with the highest professional capabilities and potential, a dedication to client service and an enthusiasm for contributing to our unique culture.
We also have an extensive practice devoted to counseling our clients on ordinary course transactions supporting drug discovery and development activities, including consulting agreements, services agreements (non-clinical or clinical), material transfer agreements, evaluation agreements, sponsored research agreements, academic consulting agreements, in-licensing of compounds, processes and platform technologies, clinical collaborations, clinical trial site agreements, and CMC and supply chain contracts. We are seeking 2-3 individuals to join this practice as mid-level associates (potentially, associate or counsel).
Education: JD degree required, and admission to practice (or eligible to seek admission to practice) in Massachusetts, New York or California (and, if applicable for hybrid remote work models, in the state of residence).
Experience And Substantive Background: Experience working in a transactional practice at a private law firm and/or company law department (in either case with strong training/supervision and support), primarily concentrated in the practice area identified above, is preferred. Familiarity with biology and chemistry principles relevant to pharmaceutical design and function, with types of commercial exclusivity for pharmaceutical products (IP and regulatory), and with the regulatory framework for therapeutic development and approval for commercial sale, is preferred. Understanding of intellectual property licensing practices and biotechnology business development practices is preferred. While we expect to consider candidates with 0-3 years (FTE) relevant experience, we particularly welcome candidates with more relevant experience.
Candidates should be effective in helping clients identify strategic goals, prioritize key issues, and find and document pragmatic solutions to these issues for a wide range of clients and transactions. Sophisticated communication skills and the comfort and confidence to interact directly with clinical, R&D and senior management at biotech and pharmaceutical companies, CROs, academic institutions, and research hospitals are crucial.
The ability to prioritize and manage multiple tight deadlines in a frequently high-paced environment is necessary to achieve the productivity demanded by our service model.
We strongly value the ability to effectively teach, supervise, manage and mentor junior lawyers and contracts specialists, and to work collaboratively with colleagues to share expertise, experience and perspectives.
Technical Skills: Excellent legal drafting ability is critical and must be accompanied by strong word processing skills. Facility with common technology tools is expected, including Microsoft Office, PDF document usage, document comparison software, document management systems, and teleconference and videoconference tools.
Faber was founded by senior lawyers and contracts specialists who'd worked for Millennium Pharmaceuticals who now sought an independent professional working environment, and a business model that optimized four key elements – financial reward, professional time commitment, working environment and culture, and intellectual challenge.
We have adopted an individualized approach to return to office, with employees and supervisors working together to create employee specific hybrid work schedules, so that employees may split their time between a firm office and their home office. We have a strong in-house IT team and provide equipment, furniture, smartphone and internet service, and/or other reasonable accommodations needed to be fully-functional from home.
We compete for talent with the few “big firms” that have sophisticated transactional practices in the life sciences. We determine title, regular billing rate, annual salary, and target bonus for our lawyers based on the relevant skills and experience of each employee. We also provide additional bonus opportunities based on allocations of business origination and retention credit (and, in 2021, 100% of our lawyers with at least 2 years tenure at the firm qualified for additional bonus through this program). Comprehensively, we believe we provide our lawyers a pay/benefits opportunity that, when adjusted for actual billable hours, is higher than at competitor “big firms.”
We provide our employees very competitive salary and bonus compensation, exceptional benefits, strong mentoring and professional development support, and work-life balance.
We understand the value of flexible working arrangements such as reduced hours schedules, flex-time, compressed workweek schedules, and an annual billable hours target (1600 for full-time lawyers and 1440 for full-time contracts specialists) that is lower than “big firm” billable hours minimum requirements. We work with our employees to find mutually beneficial solutions to work balance needs, including part-time and flexible schedules.