How Dr. Ted Love Went From Studying Molecular Biology To Becoming The Former CEO Of A Company Acquired By Pfizer For $5.4B
Dr. Ted Love's journey to success in biotechnology is a testament to life's unexpected turns. While his initial pursuit was not in that field, Dr. Love's education in molecular biology at Haverford College, his time at Yale Medical School, and his residency and cardiology fellowship at Massachusetts General Hospital laid the foundation for his future endeavors.
It was a pivotal moment when Dr. Love witnessed one of his mentors transition from being the head of cardiology at Harvard to heading research and development at Bristol Myers Squibb. This inspired Dr. Love to make a change, leading him to join Genentech, which he referred to as the "Harvard of biotechnology" due to its cutting-edge scientific advancements. Despite entering the field with limited knowledge of drug approval and clinical study design, Dr. Love believed he could learn and excel in these areas.
Dr. Love's experience and skill as a drug developer at Genentech opened doors for him. He held positions such as senior vice president of development at Theravance and CEO of Nuvelo, Inc. During his time as CEO of Nuvelo, he successfully took the biopharmaceutical company public and facilitated its merger with ARCA Biopharma, Inc.
In his next role, Dr. Love became the president and CEO of Global Blood Therapeutics, Inc. (GBT), where he focused on developing a drug to cure sickle cell disease. GBT aimed to create a molecule that could modify the abnormal hemoglobin in red blood cells and transform sickle cell disease into sickle cell trait. The challenge was to develop a highly specific molecule that targeted hemoglobin without affecting other proteins in the body, which could lead to unintended toxicity or adverse reactions.
After almost ten years of rigorous research and testing, GBT's drug, Oxbryta®, received FDA approval in 2019 and was introduced to the market. Building on this success, GBT developed GBT021601 (GBT601) by 2022, a drug that Dr. Love claimed was 15 times more effective than Oxbryta®. This achievement attracted the interest of potential buyers, including Johnson & Johnson. Eventually, Pfizer acquired GBT in August 2022, making a $5.4 billion all-cash deal.
After the acquisition, Dr. Love retired from GBT but remains actively involved in the sickle cell community. He serves on the boards of the Biotechnology Innovation Organization (BIO), Royalty Pharma, and Structure Therapeutics, using his expertise to guide and mentor upcoming CEOs in the industry.