Meet The New CEO, Steve Lo
On March 6, Vaxart, Inc., announced it had hired Steve Lo to become its new Chief Executive Officer. Steve sat down with Vaxart Communications to talk about his background, why he was interested in Vaxart, and what his vision is for the Company.
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Steve, tell us a bit about your background. How long have you been in the biopharma business?
I’ve have been in biopharma since 1995 and have enjoyed working in companies, big and small, U.S. and global. I feel fortunate to have experienced all phases of drug development, from pre-clinical at my last company, to launching and commercializing products in numerous biopharma companies throughout my career.
What got you started? We hear stories about young people wanting to be the next Michael Jordan or Neil Armstrong or Oprah Winfrey, but you don’t hear to too many people who say, “Yes, I want to grow up and lead a biotech.”
Growing up I was always intrigued about being in healthcare but also liked business. It was in graduate school that I was able to link both business and medicine, realizing having the right vaccines and medicines could prevent bigger healthcare costs later. I never said, ‘I want to be a biotech CEO.’ It was more ‘I want to find the right healthcare solutions.’ I feel fortunate to work with good scientists who want to do the same thing and have often said., ‘I am here to help monetize the science.’
What was it about Vaxart that you found attractive?
Clearly the promise of the science! On top of that, many of my biotech colleagues have said to me, ‘can I send you a video of my kids screaming and running away when it’s time for their shot’? Who wouldn’t want to find a solution to that?
How would you describe your leadership style?
I have been told that I am no-nonsense, being both supportive and directive as the situation arises. Leaders should be situational; I believe it’s not a one-style fits all approach.
What are some of the lessons you learned leading other biotechs that you plan to apply to Vaxart?
What I have learned throughout the years is to always hold ourselves to a high standard. Whatever the company is working on, our standard should be related to how we convince a regulatory authority like the FDA, a future business partner, or an investor we have achieved success. That involves the right planning and the right experts, but also being willing to be critical of ourselves.
You have had a lot of experience – and success – in bringing products to commercialization at your previous stops. What’s the biggest hurdle a company faces in succeeding at commercialization?
Companies must understand the marketplace, which includes the competition, the payers, the prescribers, and patients. Then build the strategy to address each of these critical stakeholders. It will vary by country and region.
You are just starting your tenure; do you have some short-term goals for the Company?
In one of my first meetings at Vaxart, I heard a manager talk about ‘fast execution’. It was like they were reading my mind because the short term goals revolve on executing on our current plans for each of our programs, and doing it in a timely manner because stakeholders are depending on us.
Last question. What’s your 10,000-foot vision for the company—what should Vaxart have accomplished five years from now?
In five years, I want Vaxart to be known for solving some key public health issues globally with both effective and convenient vaccines, reaching more people because our platform made it easier by eliminating traditional barriers that come with getting a shot.
