About

What are the most important transactions and litigations that you have been involved in during the last two years?

In 2019 I led a corporate split of Selvita into two independent companies listed on the Warsaw Stock Exchange, one that will focus on the development of small molecule therapeutics in oncology, and another that will provide contract research service in drug discovery and development. This process required the preparation of a complex strategy, taking into account the company’s assets and research programmes that was subsequently executed and translated not only into a split plan and prospectus, but also procedures and policies
for a newly established company. Historically,
in Poland there were only two other companies that had been listed and had gone through such a process.

In 2018 I oversaw – from a legal standpoint – the successful completion of a US$41m secondary public offering of Selvita’s shares, one of the biggest capital raises that year on the Warsaw Stock Exchange. In 2017 I negotiated a global license agreement for SEL24, a potential drug, that is currently in Phase I/II trials in acute myeloid leukaemia patients, with future milestone payments to Selvita that add up to €89.1m.

How important have “soft skills” or personal attributes outside of technical legal skill been to the team’s success, and which “soft skills” do you feel are most important for an in-house lawyer to possess?

Biotech is a wide ranging subject that many find very demanding because of its diversity and the technical knowledge within each of its areas, therefore social skills like the ability to listen and understand complex problems delivered by scientists using a specialised language and translating them into legal concepts is key to our team’s success. In-house lawyers should also be able to collaborate well with leaders of other departments such as finance, human resources, IT, marketing, and sales.

Besides communication skills I feel that adaptability and problem-solving skills are the most important for an in-house lawyer. In particular in an industry that is developing at such a fast pace, where one is challenged every day with a new problem, that is connected either with AI, Big Data or the management of a clinical trials in the US by a European company that must comply with GDPR, it is essential.

What are the main qualities you look for in a potential new hire?

Personally I always look for a lawyer that is eager to learn and develop together with the company and presents outside-the-box thinking. If you combine the above with hard work, it is a recipe for success, and as such all my hires at Selvita [have these qualities] where I have established a legal department from scratch.
What advice would you give to any peers or colleagues working in the Polish market for the first time?

I don’t think that there is any particular advice to be given to peers working in the Polish market for the first time, other than that to be given to colleagues from other countries in EU or rest of the world. Do not become discouraged by your initial mistakes but learn from them to be a better lawyer.

What can law firms in Poland, and the wider CEE region, do to win more business from you?

In order to win more business law firms should understand our business better. Western or US law firms are frequent guests or panellists at the industry conferences and possess an in-depth knowledge about our business model, unfortunately law firms in Poland still lack such knowledge.

FOCUS ON… transition

The transition from a general counsel to a member of the management board – thinking more about business and shareholder value.

Serving in the capacity of general counsel today brings more to the table than just legal expertise. The attorney who fills this role must reactively address problems that arise by analysing and providing legal advice, but they must also think proactively to mitigate potential legal issues. In addition, general counsel increasingly acts as legal and business advisor and is involved in strategic planning, identifying any legal risks that may result during implementation of business ideas such as for example corporate split. Having the legal pedigree, deep knowledge of the binding law and regulations as well as great negotiating skills is currently a must. A differentiation to be “more than just a lawyer” comes with understanding of the industry and ability to use insight to apply legal knowledge to the business. This a prerequisite to bring a true value to the corporation and its management.

Transition from the role of an in-house lawyer to
the management board in particular requires broader thinking, and general counsel must dispel the perception that having a law degree means
they are only interested in legal issues or that
lawyers are risk averse and excessively detail oriented. To develop business perspective, lawyers must seek out opportunities to learn more about the enterprise and the industry. [That said] general counsel should never take off their legal hat. However, the head under such hat should think far broader than purely on legal matters and consider the longer-term implications of a transaction or other corporate issue. In fact, one is frequently required to think more about the impact on the business over time than a short-term legal strategy, even considering litigation. As a member of the board, general counsel are expected to project and analyse the likely outcomes, including the long-term impact on business strategy and ultimately on a value for shareholder.

If the a member of the management board still serves as guardian of the company and fills a role
of a general counsel simultaneously, at the end
of a day they have to keep dual responsibilities
in mind, which might be difficult to manage effectively. That is way it is crucial to build a well-tuned legal department that can take off some responsibilities and allow general counsel to make decisions that generate measurable business
value.