Founders’ Story Featuring Neuright Co-founder Dr. Kristy Townsend
By day, Dr. Kristy Townsend is a professor in neurobiology and researcher at OSU—she leads the Townsend Lab. During long nights and weekends, she walks the path of an entrepreneur as Co-founder and Chief Scientific Officer of Neuright, Inc.
Neuright, Inc., a biotechnology startup and academic spin-out founded by Dr. Townsend and Dr. Magdalena Blaszkiewicz, CEO, is developing a medical theragnostic platform to diagnose and treat peripheral neuropathy.
Highlights and Tips from Neuright for Traveling the Entrepreneur’s Path.
At Rev1’s recent Founder’s Story event, Dr. Townsend shared her engaging story of what it’s like for two female scientists to start a company and how her experience applies to other entrepreneurs, no matter what industry their startup serves.
Research. Research. Research.
The rigors of research that come as second nature to scientists are effective tools for entrepreneurs. Setting up hypotheses, testing outcomes, and structuring reports and data is just as important in market validation than in the lab. Neuright surveyed more than one hundred patients with neuropathy—and then they pivoted.
When entrepreneurs ask, people will help.
Scientific discovery is built on collaboration. Neuright’s founders built a scientific advisory board of academics, computer and electrical engineers—again second nature for company founders who are also scientists. And they didn’t stop there. Neuright dove deep, including into pitch competitions and Rev1’s investor startup studio.
From an ice cream company to a startup creating software for schools, Neuright gained insight from many sources. Their big discovery: Do not be afraid to ask—for information, introductions, or assistance. Second, conclude every conversation with two questions: What else should we have asked you? And, who else do you think we should talk to?
Describe your solution in vocabulary that a non-industry audience understands.
When the founders of Neuright talk about peripheral neuropathy in the lab, they use words like neurites, axons, and dendrites. Their elevator pitch begins with “We Make Neuropathy Right,” and a simple “word picture” that describes what Neuright does—deliver early diagnosis and treatment of small nerve damage that causes tissues and organs to die back.
Patients (and customers) become influencers.
An estimated 20 million people in the United States suffer the symptoms of peripheral neuropathy. Together they have a voice. When people who have a problem see potential solutions, there is potential for self-advocacy, especially with today’s communications platforms.
Scientists can move from laboratory to entrepreneurship.
Dr. Townsend, who is thrilled with her experience as an entrepreneur, has a message for other scientists. “Those of us who are professors or scientists in academia sometimes don’t think about the applicability of what we are doing. We might create knowledge for knowledge’s sake and hope that the outside world sees it when we publish and present.
More people like me are learning that we can take what we’re using in the lab, and, if there’s a social need, license it or form a spinout like Neuright. It’s a unique way of thinking.”
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