Katrin Ericson | LeadersLink

Organization Mission & Context

• Rungstone Research Program (RRP), established in 2016 by the Babich family, is a medical research nonprofit led by Executive Director Katrine Erickson.
• RRP targets Runx1 familial platelet disorder (Runx1 FPD), a rare genetic disorder caused by mutations in the Runx-1 gene, resulting in reduced protein levels primarily affecting the blood system.
• Patients with Runx1 FPD experience bleeding issues, bruising, immune challenges, and a 30x higher risk of developing acute myelogenous leukemia (AML) compared to the general population.
• RRP's core vision is to prevent cancer in Runx1 FPD patients while establishing a broader path for cancer prevention.

Leadership Link Program Objectives

• Erickson joined the Faster Cures and Milken Institute's Leaders Link program to access expert networks, secure mentorship for her first nonprofit leadership role, and learn about venture philanthropy.
• The program's capstone project focused on determining the strategic viability and implementation roadmap for a venture philanthropy portfolio at RRP.

Venture Philanthropy Landscape & Challenges

• Advisors noted a scarcity of successful venture philanthropy success stories (e.g., Cystic Fibrosis Foundation) to serve as immediate models.
• Existing financial structures typically involve milestone-based payments with potential revenue sharing, or proprietary arrangements.
• The primary recommendation from advisors was to partner with individuals possessing intimate experience in venture philanthropy deals.

Strategic Pivot: The Cures Playbook Podcast

• To build a comprehensive roadmap, Erickson launched the Cures Playbook podcast to gather perspectives from biotech executives, academics, and nonprofit leaders.
• The podcast aims to identify key drivers for success across business, scientific, and leadership domains in disease cure initiatives.

Key Findings on Venture Philanthropy Viability

• Disease Mechanism Knowledge: Success requires a deep understanding of disease mechanisms to identify druggable targets or applicable technology platforms, thereby lowering the perceived risk of failure for for-profit entities.
• Capital Thresholds: Engaging for-profit partners generally requires a minimum investment of $1 million or more.
• Community Strength: A well-established patient community and a network of expert scientific key opinion leaders are essential to de-risk therapeutic approaches through deep expertise.
• Leadership Qualities: Perseverance and faith in achieving difficult goals are critical, specifically regarding how leaders respond to and move forward after failures.