MY TURN
INCREASING MY SPHERE OF INFLUENCE by Neal S. Walker, DO ’97 There is a certain self-autonomy to being a physician as the profession requires a mix of patient care, business savvy and creative experimentation/innovation/leadership. At the same time, that independence requires passion, openness to change and expansion, and ambition for achievement. Perhaps that is why the gap between physician and entrepreneur isn’t so wide. Many of the characteristics it takes to become an effective entrepreneur are the same ones that lead us to become physicians in the first place. Prior to medical school, I worked at Johnson & Johnson as well as at a small start-up technology company called Bio Med Sciences, where I was able to see the contrast between a large and small organization. And during the summer between my first and second year of medical school, I worked on the development of Prilosec (omeprazole) at Astra Merck Inc. In conjunction with my twin brother who was working there at the time, we had an opportunity to develop a solution that enabled the company to submit its data electronically to the US Food and Drug Administration. From that experience, we developed Octagon Research Solutions, Inc., a software company that specializes in helping biopharma companies submit clinical data to regulators. We grew the company to 450 people prior to its acquisition by Accenture P.L.C. in 2012. As I continued with my medical training, I became more interested in outpatient medicine and, specifically, dermatology. Dermatology was attractive to me because of the blend of clinical care, surgery and histopathology. Upon graduating from Philadelphia College of Osteopathic Medicine, I completed an internship at St. Barnabas Hospital in the Bronx. I then fulfilled my dermatology residency at PCOM under the tutelage of Howard Goldman, DO ’85 [clinical associate professor, internal medicine, division of dermatology], and Stephen Purcell, DO [clinical professor, internal medicine, division of dermatology].
While I enjoyed my experiences as I became increasingly involved in patient care, I realized that I desired to increase my sphere of influence. I came to believe that I could impact more patients by driving innovation in health care more broadly. My early interest in drug development resurfaced; my twin brother, who continued to be active in the industry, encouraged my aspiration. I went back to school—and through weekend coursework, obtained my master of business administration degree from the Wharton School of the University of Pennsylvania. Today, as president and chief executive officer of Aclaris Therapeutics, Inc., a public (as of 2015) clinical-stage specialty pharmaceutical company focused on identifying, developing and commercializing innovative and differentiated therapies to address significant unmet needs in dermatology, I consider myself to be a true “doctorpreneur.” As a physician, I understand both patient care and practical clinical practice issues. As an entrepreneur, I live in a boundless world of opportunity to drive innovative change in health care. I am able to seize new ventures with a sense of purpose—and now I am able to help other physician entrepreneurs to develop their concepts and navigate the entrepreneurial waters. Since 2002, I have raised over $200 million for various life science companies that I have founded or co-founded—and I have had my share of successes and failures. Over the years, I have come to realize that there are more similarities than differences between being a practicing physician and an entrepreneur. Both roles involve managing risk, leading teams, understanding how to work with multiple stakeholders, and driving the optimal outcome for all involved. For any colleagues who are contemplating making the leap into entrepreneurship and increasing their own sphere of influence, the chasm is not as wide as it first appears.
DIGEST 2016
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