Olympian. Molecular scientist. Internationally-recognized businessman.
If life were a comic book, Bob Thayer would be one radioactive incident away from becoming a superhero. In the real world, however, he’s instead one of Northern Ontario Business’ Northern Icons, and a testament to the explosive success of the burgeoning biotechnological cluster proudly beating at the heart of Thunder Bay’s newest scientific community.
In fact, as the former head of Genesis Genomics, Thayer helped to usher in the biotechnology cluster that has become one of the high-tech call signs of the new northwestern economy.
Last December, the company was recognized as one of the top 10 life sciences companies in Canada, as decided by venture capitalists across North America. What’s more, the company recently struck a deal to use its research as the foundation for a skin care product, derma DNA, which is now being sold at Shoppers Drug Mart. Designed to test for sun damage to the skin, the product is now “flying off the shelves,” according to current company president and CEO, Bob Poulter.
It’s also rather telling that the company was able to attract world-class business talent such as Poulter, who spent many years in high-level international positions within IBM and Royal Bank. The company is now anticipating an initial public offering by October 2009.
What’s more, the City of Thunder Bay now features a broad number of molecular research institutions, including the Molecular Medicine Research Centre, and the Lake Superior Centre for Regenerative Medicine. This certainly wasn’t the case when Thayer first set out in 2001, and his tenacity in pushing the research envelope is a credit to the city’s current knowledge economy.
“It’s certainly had a profound effect,” Thayer says.
“Back in 2001 when we would give talks about a new knowledge-based economy and biotech, they were well attended, but there are far more opportunities now.”
It all began in 2001, while researching prostate cancer with the Northwestern Cancer Centre in Thunder Bay, Thayer found himself in the company of many like-minded scientists who believe in the untapped potential of lesser-explored DNA known as mitochondrial DNA (mtDNA).
Following four months of meeting on Sundays, the group outlined the business model of using cutting edge molecular science to help identify certain genetic markers which can help predict the onset of skin cancer.
With some assistance from Lakehead University resources, the group incorporated in 2001, and opened a laboratory in 2002. The company grew at leaps and bounds, swelling beyond its boundaries nearly every year, and now resides in a 5,500-square-foot space with 19 people employed across both its Thunder Bay and United Kingdom locations.
Despite its considerable success, Thayer and his team have had no shortage of challenges, particularly the perception that Thunder Bay was a distant forestry town and not one well-suited to cutting-edge molecular research.
He points to a conference call he had in 2003 with some prospective investors from Toronto who were spooked when they found out that Genesis Genomics was based in Thunder Bay, and not North Bay.
This is just one example of the many nay-sayers he faced throughout the last several years, and compounded with other challenges. These included the high financial cost of molecular science and the need to establish the credibility of the type of work they were doing with mtDNA.
To help overcome these obstacles, he drew upon not only the strength of his team, but also on his illustrious and extensive career in sports, which included a spot on the Canadian Olympic wrestling team in 1968, to which he returned as a coach in 1976 and 1980. He also spent many years coaching football and wrestling at Lakehead University, and frequently credits this sporting past with helping prepare him, a scientist, to overcome his lack of business training.
Not only did it provide him with the tools necessary to manage teams and deal with people, but he says it gave him the mentality necessary to persevere through the tougher times.
“Victory is a part of sport, but so is defeat,” Thayer says. “Unless you’re the best in the world, it happens, and you have to learn that you will see it and you move on. We’ve seen more downs than ups at times, but you work through that.”
