“As a scientist who works in the Biomedical industry, I understand why a MBA degree is needed. I designed the BioMed-MBA for my needs in order to do a biomed specialization myself.” (Lior Shaltiel)
The concept of an “MBA in BioMed” can seem almost perplexing. The two words in fact appear dichotomous: “MBA equals business” and “BioMed equals science.” In a fascinating, nearly hour-long interview with a marketing team member, Dr. Lior Shaltiel, Academic Head of the BioMed-MBA program and the international program's MedTech Innovation, tried to answer this enigma.
In the traditional university framework, there are two disciplines that will never meet: science and business. However, for those like Lior who dream to use science to improve the world through a new drug or medical device, the two need to be merged. Why? Because there’s more to a successful drug than just the science behind it. Without proper handling of the finance, marketing and management aspects, everything can fail.
Accordingly, when Lior was given the opportunity to join the Hebrew University Business School in 2016, he was committed to launching a new track: the BioMed specialization. Now on its eighth cohort, the track had over 100 students last year alone.
Simultaneously, Lior has been the CEO at NurExone Biologic since 2021. NurExone Biologic is now a publicly traded company in Canada at the Toronto Stock Exchange Venture (TSXV:NRX). The startup’s goal is to develop a drug which aims to regenerate neurons in nerves that have been damaged by severe injuries.
“One such example,” Lior shared, “is a young man who was paralyzed in 2016. He loves to write and create rap music. He used to be a bodybuilder. He and others keep me going, reminding me why I do what I do.”
NurExone is focusing particularly on treating spinal injuries. According to the World Health Organization, there are an estimated 250 000-500 000 incidents of acute spinal injury each year caused by events such as sporting injuries or car accidents. NurExone’s mission is to return at least some functionality to those paralyzed, but most importantly, rebuilding their sense of dignity and independence.
Changing the world through having an impact can only be achieved if one knows how. As his concluding remark, Lior observed: “We have good scientists in Israel, but being a good scientist doesn’t just mean to be in the industry; it means to go further and break the glass ceiling to become a successful innovator or manager in the field. You cannot do that without business education. We need to teach students to be the next leaders.”