North Carolina’s vibrant entrepreneurial ecosystem is a powerhouse for innovation, but there’s always room to improve, especially when it comes to turning cutting-edge research into real-world solutions. John Bamforth, Executive Director of Eshelman Innovation at UNC Chapel Hill, is on a mission to close the gap between groundbreaking science and impactful healthcare ventures.
In the latest episode of the Founder Shares podcast, Bamforth shares insights into his role at UNC, the challenges of translating academic research into startups, and the exciting projects his team is fostering through Eshelman Innovation.
From Global Pharma to Local Innovator
Bamforth is no stranger to the complexities of healthcare innovation. Before leading Eshelman Innovation, he spent nearly 30 years at Eli Lilly, helping build the pharmaceutical giant into the world’s largest pharma company by market cap.
“At Lilly, excellence, respect for people, and integrity were instilled in you,” Bamforth says. These values guide his work today at Eshelman, where he’s leading efforts to translate UNC’s groundbreaking research into solutions that can directly impact patient care.
The challenge? Academia doesn’t always prioritize commercializing research. Professors are incentivized by grants and publications, not by bringing their innovations to market. Bamforth is changing that, helping UNC researchers think about market potential and how to turn an idea into a viable product.
A Focus on Big Healthcare Challenges
When Bamforth took over in 2019, he pivoted Eshelman Innovation toward not just supporting research, but tackling some of the biggest challenges in healthcare. “We wanted to take a swing at the biggest healthcare challenges out there,” Bamforth explains.
Today, Eshelman Innovation has two main focus areas: novel therapeutics and digital health. In addition to drug development, Bamforth’s team launched a venture studio to create digital health startups across North Carolina, with hubs in cities like Asheville, Greensboro, and Wilmington.
Real Solutions for Real Problems
One of the institute’s most notable successes is Rapidly Emerging Antiviral Drug Development Initiative, a nonprofit that arose from the realization, just before the pandemic, that novel antiviral drugs were urgently needed. “We were approached by three faculty members who predicted a pandemic,” Bamforth says. Eshelman backed them, and when COVID-19 struck, they were prepared.
READDI is now a global nonprofit focused on developing antiviral treatments for future pandemics. The organization has already raised $100 million and is working with partners like the World Health Organization and Johnson & Johnson.
Another success story is Goldie Health, a company addressing the opioid crisis in Appalachia. Goldie Health provides peer support teams for overdose patients, using technology to streamline and improve care delivery. “It’s our first company targeting the opioid crisis,” Bamforth says, “and we’re proud to take on such a pressing challenge.”
Navigating Barriers to Innovation
Bamforth doesn’t sugarcoat the difficulties. One of the biggest barriers to healthcare innovation in North Carolina is early-stage capital. “There is not a lot of pre-seed capital here,” Bamforth admits. Additionally, academic incentives often don’t align with commercialization goals.
Despite these hurdles, Bamforth is optimistic. His team works to bring in partners, such as venture firms and industry experts, to help startups navigate the complexities of the healthcare market. “We’re seeing that success doesn’t have to be a unicorn,” he says, explaining that even smaller “base hit” companies can create a virtuous cycle of innovation and economic growth in North Carolina.
Looking Ahead
As Eshelman Innovation continues to expand, Bamforth is focused on building partnerships across the state and beyond. Whether it’s helping faculty navigate the challenges of entrepreneurship or working with external partners to fund and launch new ventures, the institute is poised to be a major player in North Carolina’s innovation economy.
“The potential here is real,” Bamforth reiterates. “We just have to be honest about where we are and be willing to do the work to get better.”
For anyone interested in the future of healthcare innovation, John Bamforth and Eshelman Innovation are names to watch. From their digital health venture studio to their groundbreaking work on antiviral drugs, they’re pushing the boundaries of what’s possible in North Carolina and beyond.
To learn more about Eshelman Innovation and its groundbreaking work, visit EshelmanInnovation.Org
Listen to the full Founder Shares podcast episode with John Bamforth wherever you get your podcasts.
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