Updated: May 16
Welcome to this week's Startup of the Week blog. This week we are introducing you to Tim Peara, President of Bridge Therapeutics -- a pharmaceutical company focused on developing innovative, low-risk solutions for pain management and opioid use disorder.
A Pre-emptive solution for those who suffer from chronic pain
Bridge Therapeutics seeks to address a systemic threat to Americans’ health: Opioid Addiction. People in the USA who suffer from chronic pain are particularly susceptible to disordered use of Opioids. According to the National Institute on Drug Abuse, 8 out 12 Americans who suffer from chronic pain are vulnerable to developing an opioid use disorder. To fully address this issue, pain must be treated without risking addiction. Bridge Therapeutic’s aspiration is to fulfil this dire need. The firm is currently working on a strong, yet safe pain medication given under the tongue in 3 seconds, a significant improvement from existing deliveries that take between 6 to 16 minutes to dissolve and can create mouth irritation and dental problems. Bridge Therapeutics is working towards FDA Approval, meaning its first drug could be become available in 2023.
Bringing Bridge Therapeutics from startup to operating company is no small feat. In addition to securing partnerships and building an advisory board, Mr. Peara has had to convince healthcare venture capital funds and investors who are hesitant to finance generic drugs and pain therapy. He has done so by focusing on Bridge Therapeutic’s crucial medicine, the unique delivery system and the firm’s expertise in controlling for the placebo effect.
Mr. Peara has been able to secure funds and support for Bridge Therapeutics by not only applying his existing financial and management skills, but also by cultivating new knowledge.
Doing what you love while achieving genuine impact
In 2018, Tim became Bridge Therapeutics’ chief advocate, in order to help save thousands of lives and put an end to the multi-generational threat of Opioid Addiction. In pursuing this vision, he decided to forego the job security that came from working for establishing companies such as Prudential Securities, Wells Fargo, GE Capital, and United Technologies. In so doing, he needed to re-train himself. Since joining Bridge Therapeutics he sought proficiency in marketing, and the healthcare sector.
He says that while learning skills for a new industry has been challenging, it has also been enjoyable. Instead of being a small fish in a big firm, he’s become a central figure in a small team. Working with his colleagues to hit commercial milestones has been incredibly gratifying. Since cash is the lifeblood of any business, securing investment for Bridge has allowed the team to focus on earning FDA approval for its crucial products. He says that these victories have made the challenges well worth it.
Final Lessons and Encouragement from Tim
Ultimately, the story of Tim transitioning out of a career at established companies into a startup is one you are all familiar with. It is a story about persevering through the Nos, adjusting strategy, and learning how to wear many hats. Most importantly though, it’s a story about dedicating your skills and time to projects you truly believe in and rejoicing in the wins. If you run a startup in the midst of challenges, whether is be in fundraising or operations, do not lose sight of your vision. Feed the excitement that led to taking that initial step. Rewards will follow!
In closing we want to extend a warm thanks Tim Peara for his time and insight. If you want to learn more about Tim Peara and Bridge Therapeutics, please check out their their website and LinkedIn page: