Q&A with Erik Charles, Vice President and Solutions Evangelist at Xactly Corporation

MEDIA 7 | October 7, 2019

Erik Charles, Vice President and Solutions Evangelist at Xactly Corporation is an accomplished professional with over two decades of experience in Marketing, Consulting, and Product Evangelization. Erik focuses on helping companies drive expansion and growth by better aligning positions, responsibilities, and incentives.

Erik serves as a subject matter expert in the area of Sales Performance Management to ensure that Xactly’s marketing, sales and product teams have the necessary strategic input for industry leading messaging, positioning, and future direction.

MEDIA 7: When did you start working and what was it?
ERIK CHARLES:
  In early 1980s, I wrote software on TRS-80 model II coded in BASIC to enable for computerized quotes for a life insurance agency. I was in middle school at the time, that was a contract work. My next job was at a software store back when software used to be bundled up into a cardboard box with inserted floppy disks and then it went on from there.

M7: You have an astounding experience of over two decades with industry pioneers like Apple, Sun Microsystems, Canon and recently Xactly Corporation. What has been the driving force behind your remarkable career?
EC: 
There are two things: as a marketer, I don’t believe in mistakes, I only believe in experiments and what we can learn from them, that has kept me moving forward. I keep on trying new things and seeing what works. I assume that just because it worked last week doesn’t mean it’s going to work tomorrow. So, I’ve never allowed myself to get into a rut. I have always been more than willing to find people who can provide excellent advice at critical moments, even on a specific direction. Finding someone that I can speak with, that can give me a few tips, tricks, hints, ideas, direction or path on moving on. So, I have never been afraid to ask just how could I do this better.


"Sales and marketing have to be best friends, they have to be fully aligned with each other, and they have to know what each other is doing at all times so they can partner. Companies that don’t do that cause themselves a lot of heartache."

M7: As the Vice President and Solutions Evangelist at Xactly Corporation, what are some of the challenges that you face and what has helped you in overcoming them?
EC:
The biggest challenge I face – it is a changing marketplace out there. As we know, from a pure marketing perspective, there’s plenty of data sources out there. 60-70% of the buyer’s journey occurs without ever talking to the sales organization which puts more pressure on the marketing team.

Over the course of this interview I’ve already received two inbound phone calls that are unmarked/unlicensed or I don’t have in my directory. I just reject them automatically, they go straight to voice mail, I later read the transcribed voicemail and decide if I want to talk to them. So, cold-calling is not necessarily dead but it does take more work. I wake up every morning and delete approximately 50 cold emails, oftentimes from people who haven’t done any research on what my company does. They’ll hunt my name and my company but they don’t even realize what we do. So, I flip that to my own role in supporting Xactly and make sure that our voice is heard in an appropriate fashion.

The biggest challenge that I work on the most is in the area of thought leadership in terms of not ‘the same old all over again’ but actually being able to talk about what is going on in any given industry/market. I provide that advice backwards and set up Xactly and myself as the thought leaders and experts in the space, so customers have someone to turn to, to know where you should be going next.


"From a pure marketing perspective, there’s plenty of data sources out there. 60-70% of the buyer’s journey occurs without ever talking to the sales organization which puts more pressure on the marketing team."

M7: You’ve been in leadership roles for both sales and marketing functions, how do you think this alliance has evolved over the years and how significant is it for upcoming organizations to align both the departments?
EC:
If you don’t have sales and marketing aligned, all you’re going to do is go through a revolving door of firing your CMO or firing your CRO every 18 or so months. Sales and marketing have to be best friends, they have to be fully aligned with each other, and they have to know what each other is doing at all times so they can partner. Companies that don’t do that cause themselves a lot of heartache. I believe that everybody should work in sales at some point in their lives. Even if it’s retail sales at the shopping mall, dealing with the general public, dealing with the challenges of a sales organization at minimum just doing ride-alongs with the sales organization to see what their life is like.

How on earth can you create a presentation deck for sales to use if you’ve never delivered it yourself or at least heard it being delivered in a customer or prospect facing situation. If you haven’t done that you get yourself into trouble very fast in my opinion. In smart organizations, the CMO and the CRO should be going out for coffee and cocktails whenever possible and talking about what’s working or not working in a non-threatening, not a senior staff offsite situation but more of a “Huh, we have this challenge how can we work together better?” But too often I’ve seen companies where marketing and sales are not in partnership. One of my advantages has been because I’ve been in sales, because I’ve carried a bag, because I’ve had a quota it has helped me significantly. So, when I’m talking to sales I can say, “Here’s a different way I might present this information, see if it works for you and if it does please let me know and we can share it out with the other members of the team”.

M7: You are a regular speaker at summits. Could you share some insights into being an industry thought leader?
EC:
Yeah, don’t sell your product, provide information. Provide interesting, current, actionable information that is backed by both data but entertained with anecdotes. You have to remember things like the Ebbinghaus curve which gets into the fact that within 20 minutes how much people have forgotten and within 2 weeks how much more they have forgotten. I want people to walk out of my sessions and if somebody asks, “What did you learn in there?”, they should be able to list off almost bulletized format, three to five total things that they learned that they’re going to take away and act upon. And if they do that two weeks later, if they didn’t write it down, they’re still left with three of them and they’ll actually be able to get value out of my talk. I work very hard so that when people walk out they don’t think they’ve been sold to.


"In smart organizations, the CMO and the CRO should be going out for coffee and cocktails whenever possible and talking about what’s working or not working."

M7: According to you, what are the key marketing areas that industries will need to focus on in the coming 5 years?
EC:
From a marketing perspective, one is to make sure you are adjusting your channels of communication to meet the next generation of employees. Millennials and the follow-on generation are taking over the workforce, and personally I welcome them. I think it’s magnificent, but note how they are communicating – people text as opposed to calling, they are using tools like Whatsapp to communicate. That is slowly shifting the communication medium and how people wish to absorb information on the business side as well. So, that’s going to be critical.

The other is people have gotten very good at detecting false narratives being used solely to sell product. People are looking to learn – constant learning is important for professionals but if you treat your outbound conversations also as constant learning people will respond positively. I had a customer at Xactly ask me, “Look, I’m a customer now, but can I still come to some of the talks and webinars and learn something?” And the answer is, “Of course!” That’s how they became a customer, they were interested in the education that we provided and that actually raised our profile as a company within the marketplace and it makes people want to do business with us.

M7: What have you learned from your experiences?
EC:
You’re going to stumble and fall a lot, mistakes will be made, mistakes will happen. You will butt heads with opposing personality and you’ll have to learn to work with people with a variety of different interaction, styles, and skills, introverts and extroverts, people that go on the attack very quickly, etc. Understanding the personal side of the professional world is very important. People can claim that they can turn it off, I don’t think that’s true, especially now that it’s a 24/7 world.

I do international business so it’s always work time someplace on the globe for someplace that my company does business and I just have to accept that. So at the same time, I need to be able to accept that for my employees and for the people I’m talking to. They do have a personal life; unfortunately, personal life is blended into their professional life. Recognize it, accept it, work around it.

ABOUT XACTLY CORPORATION

Xactly delivers a scalable, enterprise platform for planning and incenting sales organizations, including sales quota and territory planning, incentive compensation management, and predictive analytics. Using this powerful sales performance management (SPM) portfolio, customers mitigate risk, accelerate sales performance, and increase business agility. Combined with Xactly Insights™-- the industry’s only empirical big data platform, Xactly empowers companies with real-time compensation insights and benchmarking data that maximize the bottom line. With an open, standards-based architecture, Xactly seamlessly integrates within an enterprise’s existing infrastructure, with the ability to work with any ERP, CRM, or HCM application, while meeting the highest enterprise standards in security, reliability, and privacy.

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Altamira Therapeutics Ltd. a company dedicated to developing therapeutics that address important unmet medical needs, today provided a business update and reported its first half 2022 financial results. “We continue to make good progress with the transformation of Altamira into an RNA delivery technology company. We are optimistic of reaching an agreement to divest or partner our Bentrio nasal spray for key markets in North America and Europe by year end. Last month, we agreed to divest part or all of our inner ear therapeutics programs to a European family office. Following some delay and under slightly amended terms, we expect that transaction to close in December. Thomas Meyer, Altamira Therapeutics’ founder, Chairman and CEO “Heading towards 2023, we look forward to focusing exclusively on the many emerging opportunities in the fast-growing RNA therapeutics market. We are increasingly well positioned to advance our RNA delivery technology throughout 2023.” As Altamira is going through the final stages of a major corporate transformation, management intends to hold its next investor call upon finalization of its partnering / divestiture projects. On that call, the Company will also provide its outlook for 2023. RNA delivery platform update Altamira continued to make solid progress with the development of its patented, peptide-based platform for RNA delivery to extrahepatic tissues. In recent months, the RNA team led by Chief Development Officer Covadonga Pañeda, Ph.D., and Chief Scientific Officer Samuel Wickline, MD, have advanced various projects, including selection and optimization of siRNA sequences, formulation, process development and manufacturing. Starting with project AM-401 for the treatment of KRAS-driven tumors, the Company added a second project, AM-411 for the treatment of rheumatoid arthritis. AM-411 nanoparticles comprise siRNA targeting NF-kB a key checkpoint in RA inflammation. The Company is developing both AM-401 and AM-411 with the objective of out-licensing the drug products at a later stage. They serve as a “showcase” for the application of Altamira’s RNA delivery technology; the Company’s strategy will be to out-license the technology to pharma and biotech companies for use with their own RNA molecules. In this context, Altamira has been intensifying its efforts to raise awareness about OligoPhore/SemaPhore within science and industry. In recent months, members of Altamira’s leadership team gave oral presentations at multiple international conferences, highlighting the ability to deliver RNA molecules to extrahepatic tissues and achieve efficient and rapid endosomal release inside target cells. Concurrently, further data on RNA delivered with Altamira’s delivery technology has been published by independent research groups in peer-reviewed scientific journals. Altamira anticipates entering into its first partnering agreements in 2023. Bentrio Update Earlier today, Altamira reported that its licensee and distribution partner Nuance Pharma has launched Bentrio nasal spray in Hong Kong to help provide protection against airborne viruses as well as allergens. This will be the first step to distributing Bentrio in the other Nuance-licensed territories which is comprised of mainland China, Macau and South Korea. As part of its strategy to focus exclusively on RNA delivery, Altamira has been in discussions with several well-established OTC consumer health companies for the partnering of Bentrio. Those discussions intensified following the 510(k) clearance of the product by the FDA and have advanced well, including due diligence by interested parties. The Company anticipates entering into a partnering transaction before year end. In the context of those partnering discussions, Altamira suspended preparations for launching the product in the US on its own as well as pausing major marketing initiatives in Europe. This restraint provides the prospective strategic partner for Bentrio with maximum flexibility to fit the product into its business plan. Beginning in early October, the Bentrio nasal spray was relaunched in Europe for allergic rhinitis. Previously, the Company had ceased marketing the product for the indication of viral infection in the EU and Switzerland although Bentrio’s mode of action is the same regardless of whether it provides a barrier against airborne virus or allergen particles. This had been demonstrated in various relevant in vitro assays. However, certain countries and regions require specifically clinical performance data to clear Bentrio for this indication, in particular related to COVID-19. Such data are expected to become available through the COVAMID trial. In September, Altamira announced that it had reached its extended enrollment target of 160 confirmed subjects in its COVAMID clinical investigation to evaluate the safety, tolerability, and efficacy of its Bentrio nasal spray in patients with acute COVID-19. The read-out of top-line data remains on track for the current quarter. The Company plans to seek an expansion of its product label to also include viral infections in those countries requiring supportive clinical data. In September, the Company also announced that its “NASAR” clinical trial in seasonal allergic rhinitis (SAR) resumed enrollment as the new pollen season started in Australia. The NASAR trial is expected to enroll a total of 100 patients suffering from SAR and is designed to compare the safety and efficacy of Bentrio against a (control) saline nasal spray. The primary endpoint will be the comparison of the reflective Total Nasal Symptom Score under treatment with Bentrio against control. The NASAR trial was initiated in the fall of 2021. It was suspended in spring 2022 as the pollen season came to an end before the enrollment target could be met. Interim data from the trial were used in support of the 510(k) clearance of Bentrio by the US FDA. Unless an interim analysis performed upon reaching 50% of the enrollment target to check the validity of the statistical powering assumptions requires a change to the target size of 100 patients, the Company expects to complete enrollment into the NASAR trial by year-end or in early 2023 with a read-out of top-line data in late 1Q-23.

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PHARMA TECH

Sirona Biochem Signs International Partnership Agreement with Wanbang Biopharmaceuticals

Sirona Biochem Corp. | November 28, 2022

Sirona Biochem Corp. announces that, subsequent to the LOI, Sirona and Wanbang Biopharmaceuticals have signed an expanded, international partnership agreement to collaborate on licencing Sirona’s SGLT2 inhibitor, TFC-039, as a pharmaceutical treatment in both animal and human health. The agreement adds human health to the partnership as a result of new licencing opportunities currently in due diligence. Wanbang and Sirona initially signed a licensing agreement for TFC-039, whereby Wanbang obtained the rights to develop the compound as a diabetes treatment in China and Sirona retained the global rights. Sirona has since been in discussions with animal health companies to advance TFC-039 as a treatment for diabetes and chronic kidney disease in companion animals. SGLT2 inhibitors provide an opportunity to treat inflicted animals with an oral medication as opposed to the traditional method of daily insulin injections. More recently, Sirona has entered into due diligence with a large pharmaceutical company with a regional interest in developing the compound for human diabetes. Together, Sirona and Wanbang share extensive knowledge and scientific results of TFC-039. Partnering will significantly increase the speed to third-party partnerships and commercialization. The shared data spans over 12 years of research and development, and includes in vitro and in vivo preclinical work, multiple clinical studies, advanced manufacturing process development and the ability to commercially manufacture TFC-039. “We have a long-standing relationship with Wanbang and are excited to combine our two companies’ expertise to license TFC-039. Wanbang has invested millions of dollars into the clinical stage research and development of the manufacturing processes for TFC-039. These pieces of data are critical to large organizations and will greatly increase the opportunities to move forward. The probability of a successful licensing agreement has been made much stronger by leveraging our alliance with Wanbang. We have had a successful year building Sirona’s pipeline, with positive movement on all projects and we’re looking forward to continuing this success with our SGLT2 inhibitor as well as our antiviral and anti-aging projects in 2023.” Dr. Howard Verrico, CEO About Wanbang Biopharmaceuticals and Fosun Pharmaceuticals Wanbang Biopharmaceuticals develops, manufactures, and markets drugs with indications for chronic disease treatment, antibiotics, and other endocrine diseases in China. Founded in 1981, the company is headquartered in Xuzhou, China, and is a subsidiary of Shanghai Fosun Pharmaceutical Group. Fosun is a leader in the pharmaceutical industry and is regarded as one of the top five domestic pharmaceutical companies in China. About Sirona Biochem Corp. Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential. Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants.

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Eyenovia Announces $15 Million Credit Facility with Avenue Venture Debt Fund

Eyenovia, Inc. | November 30, 2022

Eyenovia, Inc. a pre-commercial ophthalmic technology company developing the Optejet® delivery system for use both in combination with its own drug-device therapeutic programs for mydriasis, presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, announced that the company has entered into a $15 million credit facility with the Avenue Venture Opportunities Fund, L.P. The financing is intended to support manufacturing in anticipation of a MydCombi launch and clinical supply for ongoing programs. Per the terms of the agreement, Eyenovia received $10 million of gross proceeds at closing. The additional $5 million will be available, at the company’s option, should MydCombi™ be approved for marketing in the U.S. by the Food and Drug Administration by August 2023. The Avenue facility replaces the company’s Silicon Valley Bank facility, which was recently paid off. “We are pleased to have the support of Avenue through this credit facility at terms which create minimal dilution as compared to a traditional equity capital raise. Together with our existing cash on-hand, we expect the additional capital provided by this facility to fund our operations through at least late 2023 or early 2024, or through value creating milestones, including the potential approval of MydCombi™ and preparations for the possible submission of a New Drug Application for our novel presbyopia treatment, MicroLine™.” Michael Rowe, chief executive officer of Eyenovia “We are pleased to provide this financing to Eyenovia as we believe its Optejet dispensing technology truly differentiates the company from its peers and offers great potential across a broad range of high value ophthalmic indications,” stated Chad Norman, Senior Portfolio Manager of the Avenue Venture Debt Fund. Eyenovia’s current pro-forma unrestricted cash balance, including approximately $9.5 million of net proceeds from this facility, is approximately $25.5 million. About Eyenovia, Inc. Eyenovia, Inc. is an ophthalmic pharmaceutical technology company developing a pipeline of microdose array print therapeutics. Eyenovia is currently focused on the late-stage development of microdosed medications for mydriasis, presbyopia and myopia progression. About Avenue Venture Opportunities The Avenue Venture Debt Fund seeks to provide creative financing solutions to high-growth, venture capital-backed technology and life science companies. The Avenue Venture Debt Opportunities Fund focuses generally on companies within the underserved segment of the market created by the widening financing gap between commercial banks and larger debt funds. The Avenue Venture Debt fund is part of the larger group of funds of Avenue Capital Group. For additional information on Avenue Capital Group, which is a global investment firm with assets estimated to be approximately $12.3 billion as of October 31, 2022.

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Xactly delivers a scalable, enterprise platform for planning and incenting sales organizations, including sales quota and territory planning, incentive compensation management, and predictive analytics. Using this powerful sales performance management (SPM) portfolio, customers mitigate risk, accele...

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