Jim Tananbaum Talks About Entrepreneurship

Jim contends that he has remained productive because of his love for learning. He seeks to find the best combination of scientific solutions to develop viable products and services. He posits that synergy is the engine that drives success in different teams. Tananbaum posits that he does not like working with individuals who do not complement each other. According to Jim, the equation, 1+1=3, best summarizes partnerships.

He holds the opinion that with effective partners, one is well positioned to be more productive. In the past, Jim has been in situations where partnership has failed to work. He states that in instances where equal partners are non-productive or insecure, there is a great likelihood of dysfunctionalities to occur.

If he was to start again, Jim contends that he would believe more in himself. Tananbaum states on pelotontherapeutics.com that in the past, he used to zero in on a combination of strategies that he thought were best or what others thought was good. To this end, he would compromise on some issues. He posits that in 2000, he developed a concept where a large healthcare fund would play a pivotal role in enhancing asset classes. Jim says that because of listening to everyone on how he would set up his business like other venture partnerships, he made substantial compromises. He states that in the past, most businesses did not conform to the models of their times.

About Jim Tananbaum

Besides Foresite Capital, Jim has been one of the co-founders of Theravance, Inc. and GelTex Corporation. For less than $80 million, the latter was able to develop and bring two of its drugs in the market. The company was acquired in 1998 when one of the drugs, Renzela (Renagel) had over $200 million annual revenue run rate. In a report by Inc42, the entity was sold for a consideration of $1.6 billion.

The graduate of Harvard University is also affiliated with the success of Sierra Ventures and Prospect Venture Partners II and III. Jim  is also behind the growth of numerous companies, including Jazz Pharmaceuticals, Healtheon, Amira Pharmaceuticals and Amerigroup. Tananbaum says that he founded Foresite with the vision of employing what he had learnt in his career for purposes of enabling other entrepreneurs and companies to succeed in the competitive healthcare industry.

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