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August 1, 2018

Q&A with ReNetX CEO Erika Smith

PHOTO | CONTRIBUTED Erika Smith.
By Wendy Pierman Mitzel

New Haven Biz talks with Erika Smith, CEO of ReNetX, about the New Haven company’s mission to treat spinal cord injuries. With its therapeutic drug research growing ever closer to human trials, Smith is seeing the vision and perseverance that brought the enterprise through the developmental stage start to pay off.

Q. Since Dr. Stephen Strittmatter, ReNetX Bio’s scientific founder, first identified this breakthrough, how has ReNetX Bio been able to push forward to gain traction toward clinical trials?

A. It's actually quite exciting. The breakthrough research identified key reasons why the body is unable to repair itself when injury occurs in the central nervous system. Since that time the company has advanced this science into a therapy with a goal of reversing injury. We have advanced from animal testing to manufacturing and are sitting on the cusp of submitting [an application] to the FDA and moving into clinical trials. It's exciting to see this coming into reality and work with such a talented and committed team to advance this work forward.

Q. You have a career background filled with variety in science and business, including work as the director of the $10 M Blavatnik Fund for Innovation at Yale and as deputy director of the Yale Entrepreneurial Institute. What drew you to study science and why did you choose to move to ReNetx?

A. I was always good at math and science. And my dad studied engineering, my mom was a nurse, so I guess the cross section between the two of them was biomedical engineering.

I remember early on in high school I was asked what I would want on my epitaph, what I wanted to be known for, and I knew I wanted to make an impact in medical science.

I’ve always been in sciences and associated with technology. I worked for 25 years in life sciences, had launched and run three different investment funds (one for Johnson & Johnson and two at Yale) and seen dozens of companies mentored and funded, but I had never seen anything more exciting until I saw the work Steve was doing across spinal-cord injuries and reversing the damage. I quit my day job, invested my own money and jumped in with two feet.

It’s incredibly important to see women in STEM [science, technology, engineering and mathematics]. As an electrical engineer, I was with 10 percent women, as an investor five percent, and entrepreneurs for venture funding are in a minority. It’s important, to me to put diversity first and gain more awareness. I hope I can be a role model for women. I’ve considered that one thing I can do to make this company successful is change the face of entrepreneurship and investors as well.

Q. It seems the New Haven biotechnology sector has really created some synergies. In what ways does ReNetx take advantage of the city's resources?

A. I love New Haven. I’ve commuted here for the last six years to Yale and it’s such vibrant community. There’s a growing resource of experienced individuals and I feel we can reach out to any of my colleagues for help in [accessing] resources. It’s a small enough community to be able to be supportive and, yet, complex enough to be able to ask and receive answers to questions.

We’re at the Connecticut Financial Center in Regus space. It’s very vibrant, supportive staff, all the resource plus a view of the Long Island Sound. And we're in the heart of the city, so that’s a good place to be.

Q. Where is your go-to lunch place in New Haven on a busy day? For a leisurely meal?

A. There's Taste of Brazil. I love it and I go there a lot when I need to grab something quick. Then there is Atticus, great salads and the bookstore is right there. Then, of course, there’s the Union League [Café]; it's just a phenomenal place. My husband and I celebrated our 25th anniversary there with friends and family from all over the country.

Q. What are some of your favorite things to do in New Haven?

A. Always want to take advantage of more (especially if time were no object) but the museums: the Yale Center for British Art and the Peabody [Museum of Natural History] are inspiring. Having Yale here is such a great thing for bringing the world to New Haven. It shows in the diversity and international flavor.

Reach Wendy Pierman Mitzel at news@newhavenbiz.com

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