Summary
In this episode of Driving the Business of Science, Elevating Life Science Meetings & Events, Keith Parent, CEO of Court Square Group, discusses with Sam Ali, co-founder of Precision Evolution Global, the importance of attending and participating in industry events. Effective industry events aimed at decision-makers in pharma, biotech, and CROs, covering clinical trials, drug discovery, and pharma supply chains, connect key stakeholders who might otherwise struggle to find each other. As Sam explains, traditional conference models often fail to facilitate meaningful connections that extend beyond the event itself. Their company was founded specifically to address this gap by creating events that attract decision-makers and elevate conversations beyond the venue. Post-COVID, in-person events have seen increased attendance and impact.
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Key Takeaways
Introduction to Court Square Group and Precision Evolution Global
- Keith Parent introduces himself as the CEO of Court Square Group and provides background on the company, which has been managing IT infrastructure for life science companies for over 30 years.
- Keith mentions RegDocs365, a clinical and regulatory repository with various modules like Life Science LaunchPAD, TMF, and EDM.
- Keith introduces Sam Ali, Co-founder of Precision Evolution Global, and provides a brief background on the company, which was founded in 2019 by Sam and Victor Sharif.
- Sam explains the company’s focus on organizing event series to attract decision-makers and elevate conversations beyond the event venue, including virtual shows during the pandemic.
Overview of Precision Evolution Global’s Event Series
- Sam details the various event series organized by Precision Evolution Global, including the Precision and Clinical Trial Summit Series, Precision and Drug Discovery Series, Precision and Med Device Series, and Precision and Pharma Supply Chain Series.
- Keith shares his experience attending a recent Precision Clinical Trial Show in Boston, highlighting the success of the event and his involvement in presentations and panels.
- Sam elaborates on the focus areas of their event series, including clinical trials, medical devices, and oncology, and the importance of connecting buyers and sellers in the industry.
- Keith and Sam discuss the challenges and opportunities in clinical research, the average time and cost of drug development, and the impact of the FDA process.
Detailed Focus on Clinical Trials and Pharma Supply Chain
- Sam explains the importance of understanding the clinical trial process, including the approval process, challenges, and opportunities for the pharma and biotech industry.
- Keith and Sam discuss the logistics of clinical trials, including the transportation and storage of drugs, and the impact of the COVID pandemic on supply chains.
- Sam highlights the Precision Pharma Supply Chain and Logistics Summit Series, which focuses on the challenges in the supply chain system and the impact of AI and machine learning.
- Keith shares his experience with a new client, Frontier Scientific Solutions, and the challenges of maintaining the efficacy of drugs during transportation and storage.
Challenges and Opportunities in Clinical Supply Chain
- Keith discusses the complexities of clinical supply chain, including the transportation of drugs, the cold chain issues, and the impact of tariffs on international shipments.
- Sam and Keith talk about the differences between commercial product logistics and clinical trial supplies, and the importance of the last mile in getting supplies to the right locations.
- Keith mentions the potential for attending logistics sessions to learn more about the clinical supply chain and the importance of staying ahead of industry trends.
- Sam shares his background and experience in the pharma supply chain, including his work as a consultant and the founding of Precision Evolution Global with Victor Sharif.
Event Planning and Networking
- Sam explains the partnering platform available to attendees one month before the program, which provides detailed profiles of attendees and helps drive ROI for exhibitors.
- Keith and Sam discuss the impact of the pandemic on event planning, including the shift to virtual events and the return to in-person summits.
- Sam highlights the importance of choosing the right venue and city for events, such as Boston, San Francisco, and San Diego, and the benefits of the European market due to its smaller geography.
- Keith and Sam discuss the importance of networking at events and the long-term benefits of attending multiple shows, including building relationships and staying top of mind with potential clients.
Future Plans and Industry Trends
- Sam shares plans to expand their event series to include shows in neuroscience and other therapeutic areas, recognizing the growing opportunities in these fields.
- Keith suggests exploring the cell and gene therapy space, which is gaining momentum and could be a valuable area for future events.
- Sam emphasizes the importance of selecting the right events that drive value and ROI, especially with limited marketing budgets.
- Keith and Sam discuss the role of AI and machine learning in the healthcare and life science industry, and the potential for these technologies to transform the sector in the coming years.
Closing Remarks and Final Thoughts
- Keith thanks Sam for his insights and contributions to the podcast, highlighting the importance of event management and networking in the life science industry.
- Sam shares his excitement for upcoming events in Europe and the US, and the potential for continued growth and success in their event series.
- Keith encourages vendors and attendees to stay engaged and attend multiple events to build long-term relationships and stay informed about industry trends.
- The podcast concludes with Keith thanking the audience and expressing his appreciation for the opportunity to discuss the business of science and the future of event management.