Dr. Craig Hudson first became interested in science while attending the University of Waterloo in Ontario. After earning his medical degree from the prestigious University of Toronto in 1988, he completed an internship and psychiatric residency at the same institution. In 1993, he became a Fellow of the Royal College of Physicians of Canada, specializing in psychiatry.
Dr. Hudson accepted the position of Chief of Psychiatry at the Stratford General Hospital in Ontario in 1996, where he was later promoted to Chief of Staff. Upon completing his term as Chief of Staff, he co-founded Biosential, a biotech company.
Table of Contents
Q What first inspired you to get into the medical field?
Dr. Craig Hudson: I remember as a child visiting the Ontario Science Centre, where my favourite exhibit was the “Bad Team – Best Lab” re-creation. I was fascinated by what could be achieved by two doctors with only very basic equipment.
I read a lot as a child and found joy in books about science that explored the world around us and sparked my imagination. I was a favourite of the local librarian who often chose books for me and pushed me to dive deeper into natural science topics. I can distinctly remember reading the book Man of Science and in particular, finding the chapter on Louis Pasteur’s discovery of the rabies vaccine quite compelling.
In high school, my chemistry teacher encouraged me to study at the University of Waterloo in the co-op program as a way of paying for a university education that I would not otherwise have been able to afford.
While attending the University of Waterloo, I was invited by Dr. Philip Bryden to study under him and for the first time became interested in the clinical application of basic science. He and other graduate students encouraged me to apply to medicine rather than to apply for neuropsychology given the greater opportunities.
Q: Can you tell us a bit about your company, Biosential Inc?
Dr. Craig Hudson: In 1999, Susan Hudson and I felt there was a gap in the medical research marketplace. Friends and colleagues had set out on their own to create startup medical businesses and many failed because of a lack of funding. I had the idea of developing a natural product with good clinical benefits that would also be allowed quickly onto the market, allowing us to generate cash flow and avoid the notorious gap between the initial funding and the several-year lag until clinical market regulatory approvals.
With this knowledge and plan, we decided to strike out on our own and maintain a focus on products with clear benefits derived from scientific data and rapid access to the market. It is this two-pronged approach that made Biosential a success story both in terms of science and sustainable profit.
Our goal with Biosential Inc. was to combine rigorous scientific research with out-of-the-box thinking to re-imagine consumer health products. It was a huge challenge at the start, and it’s still challenging. But we knew going in that what we were doing was much needed. From the outset, we decided to assist other practitioners and further scientific discoveries in our field. As a rule, our pursuits are purely scientific. So far, we’ve conducted studies and clinical trials focusing on the protein source tryptophan as an aid for sleep. We’ve also researched the effects that microsatellite polymorphism may have on schizophrenia and other neurodevelopmental disorders.
Q What projects is Biosential Inc. currently working on?
Dr. Craig Hudson: Our primary focus right now is on manufacturing Zelatonin® and the continued sale of Zenbev and Restbites – all of which fall within the natural health market. These products promote restful sleep and decreased anxiety. At the moment, we hold patents in 12 countries, with over 50 additional patents pending. And we’re still only in phase one. These products have been rigorously researched and tested.
Our main goal is to help people. Based on current results, I’m proud to say that through these and other products we’ve developed, we are succeeding. We still have much more we hope to accomplish.
Q What were some of the challenges that Biosential Inc. initially faced?
Dr. Craig Hudson: Quite a few, actually! In many ways, starting a company like ours isn’t much different than any start-up. Susan and I are both accidental entrepreneurs. Our initial plan was to develop the science, file patents, and develop a very preliminary product with a view to licensing our patented technology. We learned the hard way that there are those businesses that take advantage of what might be described as naïve individuals.
Certainly, Susan and I were just that initially, but over the years we’ve become seasoned professionals with a keen eye on revenue and profit. I’m a firm believer in the saying, “Revenue is for vanity and profit is for sanity.” By keeping our focus on a profitable bottom line, we have been able to continually develop new and exciting products as well as develop the foundation of a successful entrepreneurial biotech company.
Anytime one starts a company of their own, there is a huge learning curve to overcome. We learned to do the most with the limited financial resources we had available to us at the start. The thing is, in both the medical and scientific fields, it’s incredibly easy for one’s reach to exceed their grasp. And we were at risk of that a few times at the start. As a result of early financial limitations, we learned that some projects would take a bit longer than we would like to come to fruition. As a result, we learned early on to focus on executable concepts that will generate significant revenue in a timeline that we can support. The reality is that we did the best we could with what we had available at the time.
Q: Do you have any advice for someone looking to get into the medical field?
Dr. Craig Hudson: Biotech is a funny business in the sense that many believe that the most successful idea will make the most successful company. I strongly believe in the 3Rs of biotech success: revenue, revenue, revenue. If you can find a successful product, backed by scientific data, then you have in my view the best starting point for success. When you have more resources, you will be able to pursue more, but timing and discipline are key factors in Biotech’s success.
It is important before you start your journey to make sure you’ve done your soul searching and are prepared to endure the very long road ahead. The medical profession requires a tremendous amount of hard work and dedication. There are so many late nights studying and trying to be the best you can. The same is true in founding a Biotech firm. I would also say that it’s important to be able to adapt and stick with things. If you’re truly willing to stick with it and grind it out, there’s no better profession or brighter future, in my opinion.
