Support key to success for women in business

Biotech financing has been on a tear recently, pumping billions of dollars into newly public companies.

And in San Diego County, the boom has brought a new dimension to the leadership of these companies: More women.

In 2016, just one woman headed a public San Diego biotech: Helen Torley, CEO of Halozyme Therapeutics. Since December, three female biotech CEOs have led companies to publicly traded status: Dr. Athena Countouriotis of Turning Point Therapeutics; Dr. Sheila Gujrathi at Gossamer Bio; and Laura Shawver at Synthorx. Moreover, these companies, which are developing cancer therapies, all raised more money than originally planned.

To gain success while maintaining their own lives, these women have developed strategies to juggle personal and professional obligations. They share common elements of cultivating professional alliances, carving out personal time and a willingness to build business relationships into friendships.

Here is one of their stories:

For Turning Point’s Countouriotis, business partners can also be friends. She likes it that way. Working on a successful partnership creates a camaraderie. And when the partnership involves other skilled professional women, who are also raising children, the shared bond deepens.

One of those partnerships-turned-friendships was achieved with the allfemale Goldman Sachs banking team managing the IPO. The team consists of Yi Larson, Lyla Bibi and Neha Krishnamohan.

Larson insisted on joining the road show to pitch the IPO to investors, despite being eight months pregnant.

“She literally referred to the IPO as her second baby,” Countouriotis said.

Out of the IPO experience, Countouriotis has heavily relied on the Goldman Sachs banking team to assist her in navigating through many decisions, while at the same time true friendships emerged. They regularly share photos of their children. It’s a reminder that while business is important, their families come first.

Countouriotis, who is a pediatrician, also helps her business partners sort out health issues. For example, if a child has an infection, she assists in finding the appropriate experts and therapy.

“I’m happy to help because they’ve helped me a lot navigating banking dynamics,” she said. “So that’s another fun part of it.”

Mutual support is key to success for a woman in business, especially one with children, Countouriotis said.

She got that advice from other successful female San Diego CEOs.

“If you’re ever going to be a CEO, the most important thing is make sure you have a good support system,” Countouriotis said. Turning Point Therapeutics completed its IPO in April, raising $166.5 million, up from an original $125 million. The company offered 9.25 million shares at $18 per share. At the end of the first trading day, the stock had jumped 57 percent.

On July 3, Turning Point closed at $43.66, more than double the IPO price, with a market cap of $1.4 billion.