Joe Erato feels fortunate to work for a business and in an industry that does amazing things for healthcare. “The work we do directly contributes to the well-being in lifesaving measures that medical professionals employ on the population,” said Erato. “We are also the first line of defense to ensure that the medication going to market meets rigorous safety standards, so those medications don’t cause more harm than they do good in the population.”
As the chief operating officer at Spaulding Clinical Research, Erato has played a crucial role in addressing substantial financial challenges precipitated by the downturn in biotech investments following the COVID-19 pandemic.
“Our business relies heavily on the funding and continued investment in small to mid-sized biotech companies, which are essential for their research and development efforts,” he said. “When these companies face funding shortages, it impacts not only their ability to innovate but also our operational stability.”
Founded in 2007, Spaulding Clinical is a full-service, state-of-the-art, paperless Phase I clinical pharmacology unit with a facility that features fully integrated bedside electronic data capture and sets the standard for patient care. The organization specializes in IND-enabling clinical pharmacology studies, cardiovascular safety, and clinical proof of concept while providing expertise on study design, offering in-house medical writing, clinical data management, biostatistics, project management, clinical laboratory and PK/PD analysis.
To navigate challenging times, in his role, Erato has led the charge to adopt innovative strategies to ensure the business remains sustainable. One of the key approaches has been to enhance operational efficiencies. Erato and his team have streamlined processes, focused on efficiency and leveraged new automated sales techniques while adopting more conservative project timelines.
The two-time Titan 100 said that his involvement with the program has provided him with valuable opportunities to connect with other industry leaders. “Interacting with titans from various sectors has been immensely beneficial, offering me new perspectives and sage advice that have enhanced both my business acumen and personal leadership skills,” said Erato. “These interactions have been instrumental in shaping our strategic response to the financial challenges we face and reinforcing our commitment to innovation and excellence.”
As a leader, Erato has focused on promoting individuals who not only share the firm’s values but also possess a positive attitude that fosters a constructive culture. “During challenging times, the success or failure of a company hinges on whether its employees are aligned with the plan and supportive of the mission,” he said. “This holistic approach to leadership ensures that we remain resilient and grounded, fostering a supportive environment both within our organization and in the broader community.”