At the Frontiers Health conference, Eloise McLennan, Deep Dive editor at pharmaphorum, interviewed Fabrizio Conicella, Vice-President Center of Open Innovation & Competence at Chiesi Farmaceutici SpA, to discuss the evolving landscape of pharmaceutical innovation. Conicella shared insights into Chiesi’s innovative strategies and the importance of sustainability in their operations.
Rethinking Traditional Models
Conicella emphasized the need for pharmaceutical companies to move beyond traditional models of innovation. He pointed out that the complexity of today’s world makes it impossible for a single company to possess all the necessary knowledge and assets to transform ideas into products. This realization has driven Chiesi to adopt a more collaborative approach, partnering with small startups, competence centers, and universities through their Impulse initiative. This initiative aims to de-risk and mature products externally before integrating them into the company’s operations.
The Impulse Initiative
The Impulse initiative is designed to foster partnerships with startups, allowing them to grow independently while reaching a certain stage of development. This approach not only mitigates risks but also enhances the value and knowledge within the startup, making it more attractive for future acquisitions or collaborations. Unlike traditional innovation units, Impulse is embedded within Chiesi’s strategy department, highlighting its strategic importance.
Value Beyond Financial Returns
Conicella discussed the broader definition of value that Chiesi embraces. Beyond financial returns, Chiesi focuses on the impact on patients and the planet. As a B Corp-certified company, Chiesi prioritizes sustainability and the well-being of patients. This holistic approach to value is reflected in their assessment of external innovations, considering not only the scientific and business potential but also the positive impact on society and the environment.
Sustainability and Digital Health
Sustainability is a key driver for Chiesi, influencing both their pharmaceutical products and digital health initiatives. Conicella highlighted their significant investment in changing the propellant of inhalers for chronic respiratory diseases to more environmentally friendly options. Additionally, Chiesi is exploring digital health technologies that can lower costs, maximize patient impact, and positively affect the planet. This dual focus on patient and environmental health underscores Chiesi’s commitment to sustainable innovation.
Facilitating Open Collaboration
Conicella stressed the importance of open collaboration and the need to create an innovative playground with new rules. The Impulse initiative aims to simplify interactions between startups and Chiesi, leveraging the experience of individuals familiar with both worlds. This approach helps bridge the gap between the rapid, flexible nature of startups and the slower, more rigid structure of large corporations. By acting as translators and mentors, Chiesi facilitates smooth collaborations and accelerates the development of innovative solutions.
Looking Ahead
As the interview concluded, Conicella expressed optimism about the future. He acknowledged that the work being done today is aimed at solving problems that will arise in the next five to ten years. Chiesi’s goal for the coming year is to expand their activities globally, engaging with ecosystem interfaces and specific startups that align with their needs. This long-term vision and commitment to innovation position Chiesi as a forward-thinking leader in the pharmaceutical industry.
The Launch of The Impulse
Chiesi Group recently launched The Impulse, an innovation platform designed to accelerate bold ideas and meaningful partnerships in healthcare. Making its debut at Frontiers Health, The Impulse aims to drive patient-centric innovation with a strong focus on sustainability, digital health, and collaborative solutions.
The platform provides resources, mentorship, and a global network for innovators, researchers, and startups to bring forward-thinking healthcare solutions to life.
“We stand at a pivotal moment for the pharmaceutical industry. This is the time to further rethink traditional models and embrace bolder, patient-centric innovation. That’s why Chiesi has created The Impulse, aiming to empower those who are driven by a passion to improve the lives of others through innovation,” said Fabrizio Conicella, Vice President Center of Open Innovation & Competence. “We know that some of the most groundbreaking ideas come from collaboration. By providing the resources, network, and support, we aim to accelerate ideas that will have a tangible impact on patients and the world around us, perfectly in line with our company’s vision.”
Fabrizio Conicella’s insights at Frontiers Health 2024 highlight Chiesi Group’s innovative approach to pharmaceutical development. By embracing collaboration, sustainability, and a broader definition of value, Chiesi is paving the way for a more integrated and impactful future in healthcare. The Impulse initiative exemplifies their commitment to fostering innovation and addressing the complex challenges of tomorrow.
