Welcome back to another great episode of the Pharmaverse podcast! This week our host Michael Pietrack interviews Michael Chancellor, MD, co-founder of Lipella Pharmaceuticals. They discuss Chancellor's unique journey from being a board-certified urologist without finishing his Bachelors degree, to a professor and finally to a successful biotech entrepreneur! Learn about the challenges of starting a company, and the innovative solutions being developed for hemorrhagic cystitis. “I had no idea how to do it, until I did it.” Chancellor shares valuable leadership insights gained over his 40-year career, emphasizing the importance of teamwork, adaptability, and the willingness to take risks. His positivity radiates as he talks about team trust, and burgeoning forward into new frontiers. He also offers advice for physicians considering a transition into the pharmaceutical industry. “There is not specific training for this entrepreneurship… you just got to do it with a good idea, and great people.” Tune in for another great episode! takeaways• 🧑‍⚕️ Leadership in pharma requires adaptability and innovation.• 👶 Starting a biotech company can happen at any age.• 💡 Identifying a real patient need can inspire new therapies.• ⚖️ Navigating the complexities of clinical trials is challenging but rewarding.• 📈 Going public can significantly increase a company's potential for success.• 🧑‍🤝‍🧑 Building a strong team is essential for overcoming challenges.• 🌟 Leading by example fosters a positive work environment.• 🗣️ Effective communication is key in both clinical and corporate settings.• 💪 Transitioning from medicine to pharma requires courage and support.• 📚 Success in biotech often comes from leveraging existing knowledge and resources.Chapters00:00 Introduction to Leadership in Pharma03:12 From Medicine to Biotech Entrepreneurship05:51 Innovative Solutions for Hemorrhagic Cystitis08:53 Navigating the Challenges of Startups12:00 Going Public: The Journey of Lipella Pharmaceuticals14:57 Leadership Lessons from a 40-Year Career18:07 Advice for Physicians Transitioning to Pharma