George Smith
How a Rady MBA Fueled Innovation in Biotech
George Smith, Rady MBA ‘12, a successful entrepreneur and one of the inventors of Paxlovid, the life-saving COVID-19 treatment, had an unconventional career path. With a Ph.D. in molecular biology and virology, he initially dove into industry work rather than academia—a decision that set him on a trajectory to become a leading figure in biopharma and biotech innovation. Today, he has not only built multiple companies but he is also a key player in the development of cutting-edge therapeutic solutions. His journey reflects the power of combining scientific expertise with business acumen, and his MBA from the Rady School of Management was integral to his success.
Dr. Smith always had a passion for business, even while pursuing a career in science. “I’ve always been business-oriented and wanted to push more into the business of science,” he says. “Back when it was considered highly unusual, I went right into industry after my Ph.D. I gave no thought to an academic career. And I always knew I wanted to do an MBA. It was just a matter of when.”
After years of building a career in biotechnology, including significant roles at Pfizer and in forming multiple businesses, he found that his scientific knowledge was only one part of the equation. The other, he realized, was the ability to navigate the business side of biopharma. That's when he decided to pursue an MBA.
Why the Rady School?
Dr. Smith chose the Rady School of Management for several reasons. At the time, he was juggling a full-time job, a young family, and the desire to expand his business knowledge. “Location and schedule flexibility were key for me. I was working full time with two young kids, so I needed a program that could accommodate my life,” he explains. The Rady School’s MBA program offered just that. He was also drawn to the school’s strong focus on innovation, particularly in biopharma.
“The school was especially friendly for biopharma. It’s grown tremendously since then, but 15 years ago, I was very satisfied with the program’s structure, quality, and diversity. Of course, you get out of it what you put into it, and I made sure to make the most of my time there.”
Innovating with Paxlovid
One of his most notable achievements was his involvement in the development of Paxlovid, the groundbreaking treatment for COVID-19. “Paxlovid is an interesting story, one about never knowing what will happen,” he explains. “The development of the drug goes back many years, with three rounds of innovation. The first was the development of a cure for the common cold. The second was for SARS in 2003, when we discovered the core molecule.”
As a virology lead, Smith and his team worked rapidly to develop a clinical candidate for SARS, only to see the virus dissipate. “We knew we had done a great job, but we thought it was over when SARS went away,” he recalls. However, when COVID-19 emerged, some of the same team members from the original project were still around. “They took that earlier discovery, made a tweak to make it an oral drug, and Paxlovid was born. It’s now sold over $25 billion and saved countless lives.” The value of persistence and teamwork was clearly demonstrated. “The SARS team was one of the best teams I’ve ever worked with,” he says. “We were all focused on the program, with no egos. Everyone contributed, and we pushed things forward as a cohesive unit.”
Leveraging the MBA for Entrepreneurship
Dr. Smith credits much of his entrepreneurial success to the insights and perspectives gained from his MBA at Rady. “A lot of what helped me was exposure to different perspectives and mindsets. I had an odd role at Pfizer, working at all stages of development and collaborating with different function groups. Much of my success there was understanding what each group needed, and Rady helped me expand that understanding and make it applicable to a much broader audience.”
His Rady education also gave him the strategic thinking tools necessary for building successful companies. “One of the most impactful aspects of my Rady education was learning how to codify strategic thinking,” he reflects. “Even when you see the answer, making sure you don’t miss anything is crucial. It also helps when you need to explain and defend your decisions.”
A Day in the Life of an Entrepreneur
As an entrepreneur, Smith spends his days fundraising, networking, and developing new business opportunities. “These days, it’s mostly about fundraising—building slide decks, finding investors, and presenting new ideas. I occasionally think about internal operations, but those are the easier parts. I’ve built organizations before and mentored others to do the same.”
What drives him? “I’m a builder,” he says. “I love creating new organizations. Whether it’s a small startup or a large company, I’ve always ended up building something new. I also need to be on the cutting edge, working on something new and exciting.”
Advice for Aspiring Entrepreneurs
Looking back, he offers advice to those considering an MBA and biotech entrepreneurship.
“Therapeutics as a business is in crisis right now, but if you can survive, you’ll be part of something valuable. Prepare for failure—failure is the best teacher. And be ready to hear ‘no’ a lot. Persistence is key.”
He also emphasizes the importance of having a strong team. “Find people with complementary skills and let them do their thing. Make sure you get along with your team, and make sure you’re passionate about what you’re doing. It’s going to consume a lot of your time and energy.”
Dr. Smith’s success shows how an MBA can provide not just the technical skills but also the strategic thinking and entrepreneurial mindset needed to succeed in complex industries. His story is an example of how the combination of scientific expertise and business savvy can lead to groundbreaking innovations that change the world.
