The world is changing quickly and that is no secret. New technologies continue to emerge as society itself struggles to adapt to the “new normal”. Upon taking a closer look at the life sciences and healthcare market, it is not difficult to acknowledge that millions of patients have been burdened (for too long) by outdated and obsolete procedures.
People from all walks of life can attest to the strain that certain treatments are known to cause - particularly invasive procedures that have been historically used to treat delicate and complex conditions (mostly hearing and vision related) – such treatments are beginning to seem like a thing of the past. On a global scale, devoted researchers and the unwavering commitment exhibited by them on a daily basis have fueled a series of tremendously impactful and deeply promising innovations.
Within the burgeoning field of biotechnology, a particular figure stands out.
Abhita Batra, a young and visionary scientist – turned Chief Executive Officer – is on a quest to successfully re-imagine patient experience. By championing a groundbreaking style of ultra targeted, non invasive magnetic payload delivery technology with virtually unlimited healthcare potential (including a range of highly promising solutions focused on pro-active COVID-19 counter attack) - Batra has effectively cemented her company´s reputation as one of the pre-eminent market makers of a new and improved biotech sector that holds the promise of improved quality of life for millions around the world.
The story - wind back to early 2016, Abhita was introduced to an innovative new magnetic drug delivery technology, originally developed at the University of Maryland out of the Fischell Department of BIoengineering (BioE) and Institute for Systems Research
This technology, which non-invasively directs biocompatible nanoparticles and their therapeutic payloads through soft tissue, immediately captured her interest and passion; After doing her own due diligence with leading medical experts, Batra confidently assumed her duties as CEO; Since then, the company has raised funding from a number of sources. As recently reported by Yahoo Finance: “Under Abhita Batra´s efficient leadership, Otomagnetics has successfully raised several million dollars in seed capital and secured a myriad of strategic commercial and development partnerships.” - Expert analysts have stated: “what excites investors and clinicians alike is the potential to solve an unmet clinical need.”
Historically, India has been the birth place of great minds – scientists, researchers, entrepreneurs and accomplished business moguls– so it should come as no surprise that in the midst of a widespread global re-structuring, prompted by the indisputable impact of the novel coronavirus, a new generation of audacious entrepreneurs like Abhita Batra are being recognized as agents of positive change.
As a successful Indian-American entrepreneur and CEO, what advice would you give to aspiring business people?
I am a big believer in persistence and perseverance to be successful as a startup CEO. Like Thomas Edison said, "I have not failed. I’ve just found 10,000 ways that won’t work.”
I would advise the aspiring entrepreneurs to truly embrace the startup mindset. Be adaptable in situations of uncertainty and be action oriented with a focus on delivering the desired product and service to the customer. Stay level-headed during the ups and downs and maintain a laser focus through the inevitable challenges and roadblocks.
I would like to stress the importance of surrounding yourself with employees, advisors and investors who have a positive impact on the company culture and bring diverse and complementary skill sets. I have learnt that embracing diversity and empowering the employees to express themselves are keys to a successful business enterprise.
What is the most rewarding aspect of your work?
The fact that I can make a positive impact on patients' lives through Otomagnetics fascinates me every day. Eleanor Roosevelt said, “if anyone were to ask me what I want out of life I would say - the opportunity for doing something useful, for in no other way, I am convinced, can true happiness be obtained.” - With our first indication focused on reversing hearing loss in kids, I am excited to be contributing to the well-being of our future generations. What else could be more rewarding?
Where do you see Otomagnetics in three to five years?
In three to five years, I see Otomagnetics as the undisputable leader in the field of minimally invasive drug delivery and targeted treatments.
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.