Charlotte Dyring, a chemical engineer turned entrepreneur, shares her journey from developing patented technology to listing her vaccine company, ExpreS2ion Biotechnologies, on the stock exchange. Her story highlights the challenges and rewards of bringing research to market and offers advice for aspiring biotech entrepreneurs.

Dyring’s path began at Pharmexa, where she played a crucial role in developing a new technology. When the company merged, she faced a choice: let the technology be scrapped or buy it out. She chose the latter, marking the start of ExpreS2ion Biotechnologies, which focuses on developing vaccines against diseases like breast cancer and malaria.

Despite her initial comfort in research labs, Dyring was driven by a desire to see research translated into real-world applications. “What drives me is making things succeed,” she says, “Getting as much good research as possible out there, so it can have a chance to become medicines that can save lives.”

Dyring’s journey wasn’t without its hurdles. She faced skepticism from investors early on, being told to refine her business case. However, her stubbornness led to a meeting with a business angel who invested in the project after a successful presentation to Novo Nordisk. Even with investment, the company faced financial challenges, with Dyring often having to shuffle funds to meet payroll.

In 2015, the company went public, listing on the Swedish stock exchange due to the favorable conditions for smaller companies compared to Denmark. Being listed brought a new set of challenges, including increased compliance requirements and dealing with unexplained surges in share price, leading to scrutiny from financial authorities.

Dyring also encountered difficulties in collaborating with universities, citing a lack of understanding of the commercial considerations for a listed company. Despite these challenges, she emphasizes the importance of commercializing research to benefit humanity. Currently, she is director of Marigold Innovation, helping new biotech companies avoid the problems she faced.

Now, having sold her shares in ExpreS2ion Biotechnologies, Dyring dedicates her time to Marigold Innovation and Marigold Investment Management, supporting emerging biotech startups in the Nordic region. She offers three key pieces of advice to young researchers: seek guidance from experienced entrepreneurs, maintain interests outside of work, and foster a positive employee culture. Dyring believes that by supporting researchers and enabling them to focus on their strengths, more good research can be successfully commercialized.