Quantcast
Channel: Endpoints News
Viewing all articles
Browse latest Browse all 1739

The Endpoints Slack interview: Saji Wickramasekara on where AI misses the mark — and what's next for Benchling

$
0
0

As a 22-year-old undergraduate, Saji Wickramasekara followed a well-worn tech world script that remains nearly unheard of in biotech — he dropped out of MIT and co-founded a startup.

Twelve years later, Wickramasekara is still running Benchling, a company that sells R&D software to drugmakers and scientists, acting like a digital lab notebook. Benchling has grown from one of the first life sciences startups in Y Combinator to a company valued at $6.1 billion in a 2021 Series F round.

Wickramasekara joined the top secret Endpoints News Slack room to share his views on the converging worlds of software and life sciences, as well as why he thinks the current AI funding focus won’t lead to more medicines. The conversation has been minimally edited for clarity.

Andrew Dunn
morning Saji! thanks for stopping by our slack room
Saji
Happy Friday! Excited to be here
Andrew Dunn
Let’s jump right into it — I wanted to start with Y Combinator for a bit

do you think the Y Combinator approach works in biotech today?

Saji
Straight into the hard hitting questions 😅
For context, we did YC almost 12 years ago when Benchling was started. There was no YC bio and we were one of the first software companies building for biotech that they funded. I think they were a bit bio-curious for sure and all the principles of building technology companies they espoused have applied to us. I would like to believe we influenced them to broaden their remit even more.

Most startups don’t work, whether in biopharma or software. Drug development is very hard and there is a huge benefit from experience. It almost looks like an apprenticeship business from the outside looking in. I do think that YC has encouraged more people to take a swing in bio and is helping reduce the barriers to entry. I also think there are non-biopharma applications of biotech that they have helped founders start companies in e.g. Solugen. From that perspective, I think their efforts are great.

Andrew Dunn
i like the term bio-curious

are they still bio-curious today?

Saji
I think if you squint you would also see some similarities between Flagship and YC. Curie.Bio run by Zach [Weinberg] is also bringing a YC-like model to starting biotechs.

I’m 12 years removed from YC but from my point of view, they have always been motivated by working with great founders. Early articulations of a startup are usually terrible and evolve, so betting on the founders has always been their way.

Benchling, as an example, looked very silly 12 years ago and I hope we have proven that wrong 🙂

Andrew Dunn
to back out on YC, given your experience in straddling that software/life sciences line, what’s your perspective on the entry of more and more tech folks into the life sciences?
Saji
It’s been amazing to see tech and biotech start to converge over the last decade. Most new biotech companies I see are “bilingual”. There’s machine learning and science in their founding DNA, and you see it in the teams they hire and organizations they build. It was very unusual when we started. There weren’t even computational biology majors in most schools back then.

The biotech industry does need to do more to be approachable though. The pool of people who deeply understand science and software is very thin.

And the competition for tech talent is very different from anything you see in biopharma. But lots of talented people are interested in the mission vs. selling more ads.

Andrew Dunn
is there one thing, in particular, that you think the tech-world mindset has been most helpful by bringing into bio?
Saji
This might be a west coast vs east coast thing, but I think the scale of ambition in tech is good to bring to biotech.
Andrew Dunn
what’s your favorite recent example of that?

Bezos and Altos?

Saji
Blake Byers has this great tweet about the enterprise value created by GLP-1s being more than every biotech started in the last few decades combined

Obviously a biotech success, but I don’t think some analyst put that in a spreadsheet for market size

Andrew Dunn
wow yeah — if you can find that tweet, feel free to drop a link in. that’s wild
Saji
And in tech you are encouraged to dream at that scale, whereas you can (rightfully — it’s very hard!) get some funny looks in biotech for that

Bezos and altos is cool though. Fully support rich people giving all their money to scientific research instead of buying more yachts.

Andrew Dunn
$3 billion could buy a pretty nice yacht, I imagine

To change gears to get a sense of what you’re seeing, how’d you summarize the biotech market vibe right now?

I feel like it’s been a pretty confusing year for most people to try to say where the market is

Saji
I wish I had a crystal ball. I do spend a lot of time visiting biotechs and spending time with R&D leaders/CEOs. We are very fortunate to work with about ~1200 different companies, from larval startups to big pharma, so I have some pulse on what’s happening.

I’d sum it up as resolute and focused. Last year people were depressed. This year it feels like they are back to work. Science marches forward no matter what. There is confusion, but it’s coming from AI.

Andrew Dunn
for Benchling’s own business, knowing you’re private and you can share whatever you please … but any hard #’s you can share on revenue, profitability, cash runway to give a snapshot of where your business is at today?
Saji
Sure! We have the luxury of being a private company for now, so you can’t find that much online. We did recently mention we crossed $200M in revenue. Our software is used by more than 1200 companies globally and there are academics at over 7000 universities and research institutions on Benchling. We also get to work with more than half of the top 50 biopharma companies by revenue. People think of us as research focused, which we are, but about 30% of our business is helping with process development and other downstream work.

There’s a lot of work in front of us though. We still have grand aspirations of helping every biotechnology company get all their scientific data across research, development, and manufacturing, into one place. So all this AI talk actually comes true.

Andrew Dunn
well I did want to touch on AI, at least for a bit

the interest in that technology must feel so different from when you started in 2012

Saji
Even in tech it’s wildly different than 2012. The ground is moving beneath our feet weekly. Hard to tell what’s durable and what’s smoke and mirrors.
Andrew Dunn
there’s the very specific bio applications in areas like structural biology, but i wanted to pick your brain on what we hear a ton when we talk with pharma CEOs about AI
They are keen on its ability to help with efficiency, things like corporate functions and many standardized tasks. To prognosticate a bit, what do you see as the jobs that will create and destroy?

That feels at the center of those smoke and mirrors — how much can these technologies actually be fully depended and relied upon with important work

Saji
Current course and speed, I think the billions in AI funding leads to the same number of new medicines approved each year 😬
Andrew Dunn
wow — do you mean no real impact, yeah?
Saji
There’s not enough thought going into reinventing the rest of the R&D system, including how the regulators could deal with 10x more

Lots of attention is going to designing molecules but there’s so much toil in making medicines outside of that

Andrew Dunn
Say more on that — I think if I told that to some AI evangelists I know, they’d hang up immediately
Saji
The QA person who has to review and key in data sent to them from a CRO, the medical writers who have to summarize experiments to write artifacts for filings, the massive bottlenecks in clinical development to recruit patients, etc

Areas like these need more attention and could leap forward with AI

Andrew Dunn
how much work will it take from today to move the needle on those types of examples you just mentioned?

i think there’s this vague hope that the latest ChatGPT, with a bit of prompt engineering and tinkering, could get pretty close. but it feels like those tasks are so specialized and specific, that may be a dead end

Saji
It’s both a tech and culture problem. Driving adoption of new software in the life sciences is really hard, and for good reason — there are serious safety, privacy, and data integrity concerns. Can’t move fast and break things when human health is involved. And don’t get me started on how fragmented the data is in most organizations. Can’t apply AI when everything is living in excel spreadsheets or files on someones desktop.
I’m optimistic though. ChatGPT has everyone’s attention and that’s powerful.

My prediction…

Andrew Dunn
👀
Saji
I think this is going to be like self driving cars. It was “coming next year” every year for a decade and all anyone could talk about, and then it quietly happened here in SF and it gets 1/100th the attention it deserves.

So…short term we are overestimating, long term underestimating 🙂

Andrew Dunn
Yeah, that’s really interesting to think of … so does that mean you anticipate that medical writer summarizing experiments becoming extinct?

Or like where we are with self-driving cars, it’s still a vast majority of humans driving around, even if there is some adoption.

Saji
I’m more abundance mentality on that…each medical writer doing 10x more, which we need if we want more medicines. Why shouldn’t we aspire to that?
Andrew Dunn
that’s the Silicon Valley optimism i know 😉
Saji
I want scientists to do 10x more science!
Andrew Dunn
Gotcha. With the last few minutes here, I did want to ask you on another market-based topic

Benchling was reportedly considering going public in late 2021. Why didn’t you?

Saji
We are fortunate to be very well capitalized with a great group of long term investors, so we have flexibility to choose when we go public. The public markets have not been particularly receptive to new software offerings, so right now just staying focused on our customers and supporting great science.
Andrew Dunn
Fair to say that remains the IPO market atmosphere right now?

Some of my sources speak, I think very aspirationally, of a window opening

Saji
The window is always open, the question is can you stomach going through it 😂
Andrew Dunn
haha, it has been a TIGHT window this year

If you have a few minutes still, let’s fire into a rapid round if that sounds good? Quickest thoughts here – I’ll take musings, fragments of sentences, emojis, whatever.

Saji
not enough custom emojis in the endpoints slack room but i’ll try
Andrew Dunn
Oh, we got some if you look deeply — that’s for another day

If you could speak to a young 22-year-old Saji when you were dropping out of MIT to start Benchling … what’s the one piece of advice you’d impart?

Saji
great things take a very long time

stay curious and keep a beginner’s mindset, being naive is good

Andrew Dunn
Three people, dead or alive, you’d invite to a dinner party to give you advice in your career & running Benchling
Saji
i am lucky because my board is filled with people like that and i get to have dinner with them every quarter 🙂
Andrew Dunn
Benchling board can sleep easy tonight with that shout out

Do you actually use ChatGPT or an LLM in your day-to-day life?

Saji
more for fun than work. image generation is awesome. for work…sometimes its faster for searching for information. i have yet to try having it write my all hands talks.
Andrew Dunn
when the first automated all-hands drops, let me know
Saji
no one is going to know
Andrew Dunn
that’s a fitting place to end in pondering if this is all a simulation …

this is the real Saji, right?

Saji
too existential for a friday

ask me on monday

Andrew Dunn
😂

last Q: who should we invite next to the Slack room? This has been great!

Saji
you should invite patrick hsu, cofounder of the arc institute
Andrew Dunn
i’ve been meaning to catch up with patrick. there’s been some crazy work out of there — good pick!
Saji
ask him what it’s like to be a child prodigy
Andrew Dunn
that will literally be question #1. He can start prepping

I’ll let us return to our very real-life Fridays now. Thanks again for dropping by Saji!

Saji
This was super fun, thank you!

Viewing all articles
Browse latest Browse all 1739

Trending Articles