Biotech CEO Sisterhood: Mary Lynne Hedley shares advice on board makeup, running meetings, and other factors into having an effective board of directors

Interviewed by Sisterhood editorial board member Julia Owens, Dr. Hedley, who was the co-founder of TESARO and today is a member of numerous boards, speaks about the types of discussions board members should be having, best practices for the length of board meetings, and how to ensure that management is doing its job correctly. Plus, advice for current and aspiring CEOs.

Biographies

Mary Lynne is a Sr Scientific Fellow at the Broad Institute where she serves as a strategic advisor to scientists across the Institute and a Venture Partner at Third Rock Ventures. She sits on the boards of Eli Lilly, Veeva, Centessa, WITH (Women Innovating Together in Healthcare), and is chair of the Life Science Committee at the Boston Museum of Science. She is an active participant in the Biotech CEO sisterhood and serves as an advisor to several biotech CEOs.

Most recently, Mary Lynne was co-founder, Director, President and COO of TESARO, a biotechnology company focused on the development and global commercialization of medicines to treat patients living with cancer. She oversaw a team responsible for R&D, Global Manufacturing and Operations, Portfolio Management, Commercial Development, Business Development and Corporate Strategy. Prior to its acquisition by GSK for $5.1 billion, over 8 years TESARO had built a robust pipeline of products and drug candidates, had received multiple drug approvals, was commercializing medicines in the US and Europe and was recognized for its productivity and creative drug development strategies. Notable successes were the development of the PARP inhibitor Zejula, which changed the treatment paradigm for women diagnosed with ovarian cancer, the approval of dostarlimab in first line endometrial cancer and its development in first line MSI-H rectal cancer. Prior to founding TESARO, Mary Lynne served as CSO and EVP of Operations at Abraxis prior to its acquisition by Celgene and EVP of Eisai Inc, a role she assumed following the acquisition in January 2008, of MGI PHARMA by Eisai for $3.9 billion. At MGI, Mary Lynne was EVP & CSO, responsible for R&D. Prior to her role at MGI, she was a co-founder of ZYCOS Inc., where she served as a Director, President & CEO prior to the acquisition of ZYCOS by MGI PHARMA in 2004.

Dr. Hedley is an immunologist by training, graduated with a B.S. with honors in Microbiology from Purdue University, and a Ph.D. in Molecular and Cellular Immunology from UT Southwestern Medical Center. She did her postdoctoral training at Harvard University in the areas of Immunology and Gene Regulation with Tom Maniatis and Jack Strominger.

Dr. Julia C. Owens is a seasoned biopharmaceutical executive and board member with over 25 years of experience, who currently works with multiple biotech companies and venture capital firms. She is founding CEO of Verto Therapeutics, an early-stage drug discovery company. She is also Chairman of Sena Therapeutics, a women’s health company, and an advisor to GV (Google Ventures), specializing in women’s health investments. Additionally, she is a board member for EVOQ Therapeutics and the Biotechnology Innovation Organization (BIO). She serves on the Leadership Council of the University of Michigan Life Sciences Institute and the Investment Advisory Board of the Michigan Biomedical Venture Fund.

​Her previous roles include CEO of Ananke Therapeutics and nearly a decade as founder and CEO of Millendo Therapeutics (NASDAQ: MLND). Earlier in her career, she held senior roles in business and corporate development at Tularik Inc., QuatRx Pharmaceuticals, and Lycera Corp.. Dr. Owens holds a Ph.D. from the University of California, San Francisco, and a B.S. in Chemistry and B.A. in Molecular and Cellular Biology from the University of California, Berkeley. Dedicated to empowering female leadership, Dr. Owens co-founded the Biotech CEO Sisterhood to support and advance women in the biotech sector.