Three paths to becoming a successful female biotech CEO

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 succeed while maintaining their own lives, these three 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 are their stories:

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

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

Countouriotis has heavily relied on the Goldman Sachs banking team to navigate through many decisions, while at the same time true friendships emerged. Countouriotis, who is a pediatrician, also helps her business partners sort out health issues.

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

"If you're ever going to be a CEO, the most important thing is make sure you have a good support system," she said.

Her mother, Rebecca, was part of that system. She flew in to watch the children during the two-week roadshow.

Before joining Gossamer Bio, Sheila Gujrathi had already become a noted biotech executive. She was the chief medical officer of San Diego's Receptos, which had been sold in 2015 to Celgene for $7.3 billion.

The decision to take another job, this time as CEO, was complicated by Gujrathi's obligations to her children.

"I said to them, I'd like to do this, but I need your support. They said, 'yeah Mom, I think it's great to go back to work. And it's important to develop new medicines if you can.'

So Gujrathi became CEO at Gossamer, and led the company through the roadshow and IPO.

The company completed its IPO in February, raising $276 million, up from an original goal of $230.4 million. Investor interest was enough to raise the number of shares offered from about 14.4 million to 17.3 million. The per-share price remained $16.

"You know you have the right team when you send an mail at 2 or 3 in the morning, and they e-mail you back," Shawver said.

That team enables Shawver, a beach fan and surfer, to carve out some personal time outside of normal work hours, especially on weekends.

Synthorx completed its IPO in early December, selling 13.7 million shares at $11 each. The IPO raised $151 million, up from an original $100 million.

Unlike Countouriotis and Gujrathi, who are medical doctors, Shawver started her career as a lab scientist — she holds a Ph.D. in pharmacology. And by her own admission, she didn't know or care much about the business side of biotech.

Her first executive role was director of preclinical development at Sugen in South San Francisco, which she attributes to her willingness to take the initiative.

In 2008, Shawver founded the nonprofit Clearity Foundation, which helps women with recurring ovarian cancer find the best personalized treatments.

"Having lived it myself firsthand, the limitations of standard of care and having gone through chemotherapy … I think we can do better than this."

When asked how things are different for her as a female CEO, Shawver returns to scientist mode.