Ep. 9 - L.R. Fox: NEXT Life Sciences | HLTH 2023

L.R. is a serial entrepreneur founding a number of different companies both in the aerospace and life science industries. L.R. most recently founded WhiteFox Defense Technologies, a leading provider of cutting-edge counter-drone solutions, and NEXT Life Sciences. Since this was recorded live at HLTH 2023 we only discussed NEXT Life Sciences in this episode. They are currently developing Plan A, which is reversible male birth control. Enjoy the show!

Episode Transcript

(00:08):
Thank you for visiting the Medi Ops show brought to you by the Medical Logistics and Transportation Organization,
Medi Ops.
I'm your host Rye Lin Stone.
Today we are speaking with LR Fox.
LR is a serial entrepreneur,
founding a number of different companies both in the aerospace and life science industries.
LR Most recently founded White Fox Defense Technologies,

(00:30):
a leading provider of cutting edge counter drone solutions and next Life Sciences.
Since this was recorded live at health 2023 we only discussed next life sciences in this episode.
They are currently developing plan A which is reversible male birth control.
I hope you enjoy the show.
Hey Fox.
Thank you so much for coming on the show today here live at Health.

(00:50):
Thanks so much for having me.
Yeah,
so let's jump right into it.
Well,
let's go back in time.
Let's hear about your origin story.
Yeah,
for me,
I've been building companies since I was a teenager and uh serial entrepreneur.
I always in the highly regulated spaces,
especially those where markets don't currently exist but need to exist.
Ok.
So where did you see a need?

(01:13):
So obviously we're gonna talk about plan a here coming up.
Um But,
but what was the need that you saw that inflection point that led to you starting this business?
For me?
I was uh actually uh brought into the US Chamber of Commerce as a chair,
helping companies navigate complex regulatory environments while still ceo of my last company in that process,
I was at a meeting at the White House and there was this discussion around,

(01:36):
you know,
what's that next big thing?
Flying cars,
drones A I and it just hit me like a brick in the face like all these amazing things are happening and yet half of all pregnancies are still unplanned.
Like people are still not able to make the uh intentional choice of when and if to have a child that just blew my mind that we still don't have effective options and,

(01:59):
and the burden is completely on women.
Yeah,
that's super wild and it's cool to loop that in there with other solutions that are coming out.
Drones like that.
You just mentioned that it's,
it's a problem of that size and it's really cool to see you guys capturing a market there.
Uh So let's kind of we'll fast forward you.
You're starting a company now,
let's do a 32nd elevator pitch for sure.

(02:19):
So over the last couple of years,
we launched next Life Sciences which is building the world's first long acting reversible male birth control.
Ok.
And how does it work?
So,
the way that works is you have a little tube called a vast ephrine.
Now,
the only option that's available to men is permanent sterilization.
A vasectomy.

(02:39):
Now,
in that process,
that little tube gets snipped.
What we do is instead of snipping it,
which is extremely difficult to repair.
It's a three hour microsurgery.
Instead of doing that,
we just inject a little bit of our proprietary hydrogel that's biocompatible inert,
safe with the human body.
And it is a form of just a flexible filter.

(03:00):
So it allows all fluids to pass through except sperm.
Interesting.
That's super,
super fascinating.
How did you figure that out?
We come up with that.
So this has actually been in development since the late seventies,
decades and decades of research being done helping to show that it's a safe,
it's effective and a viable scalable solution for the,

(03:22):
you know,
the world as a whole.
So why now,
why if it's been in development since 1970?
Why now we're at a really pivotal point in that the technology is so significantly de risks with decades of studies being run by nonprofits who go and raise money to launch the uh the next study.
And the next study in a much slower path than the traditional commercialization path,

(03:44):
then it was shown to be safe and effective through all the including a two year baboon study,
which is the gold standard for nonhuman primates.
Gotcha.
That's super fascinating as so where are you guys at today?
And then what's your kind of road map over the next five years?
So right now,
we are launching our clinical trial here in the United States as well as a couple other select countries that we're kicking off the end of this year.

(04:09):
Going into Q 1 2024 those studies will uh will get initial data after the first three months,
we're working with the FDA to prepare the uh the final design of uh of the study which will allow us to then be in market by 2026.
Wow,
that's,
that's sooner than I would have thought for sure.

(04:29):
For Life sciences,
as you've built this company,
what have been some challenges that you've run into?
I think that one of the big things is that male birth control is just,
it's not really a category that people think of.
It's,
and it's something that we're paving the way on.
Very similar to,
I think uh the work that you do in helping people to get things where they need to go.
Right?

(04:49):
There's uh that's a,
that's a relatively new space,
especially the focus that you guys have in that.
And so it takes people uh awareness at first to wait,
there's an option and then they can say,
OK,
let me make a choice and evaluate what's best for me.
And so we've done a lot of education and helping to make people aware that male birth control is here.
It's coming and it's a viable option for couples who are making that decision of when and if to have a child,

(05:15):
what are some innovative marketing strategies that you guys have uh utilized or are planning to utilize?
Because you obviously are in,
in a uh health care space that's direct to consumer.
So it's not necessarily B to B I would assume.
Yeah,
it's uh it's an interesting position that we have because we are selling and advertising directly to the patients.

(05:37):
But a doctor still is the one that is the gatekeeper there.
And so we've had just incredible outpouring of support from the world's leading vasectomy and others involved in male contraception.
All of those scientists and doctors are just expressed an overwhelming support.
And at the same time,
we're also messaging to directly to the patients,

(05:57):
those young men that are 1825 35 that are saying,
hey,
I don't want to have a child right now.
I probably want one in the future,
but just not right now and they don't want to get sniffed or anything like that.
It's,
yeah,
it makes sense.
Very,
very cool.
What would you say is your core purpose as you've been building this company as a health care executive?

(06:19):
What,
what's your core purpose?
My job as a CEO is to set up each person in the company for success so that we can accomplish our mission.
And our mission is to enable people to make that intentional choice of when and if to bring a child into the world.
And I think it's so often missed uh when people talk about,

(06:40):
you know,
missions and mission statements and values and all these things,
it's like,
no,
that is like why you live,
that is why you do what you do.
And that is what you bring people into the company who are passionate about that.
That,
you know,
I always say I'm never,
I never look for someone who's looking for a job.
I never hire somebody who is just wanting something to do,
right?
We want somebody who's driven by the mission so that you create that share of passion.

(07:04):
And that's why I look for investors.
You know,
that's what I ask investors.
Like,
why are you talking to me?
I always ask them like,
what is it that brings you to this conversation?
What excites you about this?
And if they can't tell you they're excited about and that they have a um aligned a mission,
then it's,
it's,
it's no point.
Yeah.
No,
that's a wonderful piece of advice.
If you could go back and kind of tell yourself something when you started this,

(07:28):
let's say 18,
what would,
what advice would you give yourself before starting any of your other companies?
I'd say everybody who you think knows everything knows probably a lot less than you think they do and you know,
and have the knowledge of everything you need to,
to do what you need to do.
And that doesn't mean that you can go and,

(07:48):
you know,
uh solve the,
uh you know,
go build a rocket overnight,
but you have the capability to learn that and to know what you need to know and to have that conversation with people.
And so when you open yourself up and you,
uh,
you know,
I think imposter syndrome is something I see so often uh from entrepreneurs uh who are constantly,
you know,

(08:08):
amping themselves up.
And like I got this,
I got this and it's like if you truly embrace that and say,
like,
I know what I need to know.
I,
I got this right.
And what,
I don't know,
I'll figure it out.
Yeah,
I love that.
That's really great advice.
Well,
I,
I thank you for coming on the show today.
I think it was a great conversation and hopefully we can have you on in the future once you've kind of hit uh production and go from there.

(08:30):
Thanks so much Ryland.