Waterhouse Brands’ Terri Clevenger highlights reputation as key asset in biotech deal-making

At this year’s Biotech Week, Terri Clevenger, Head of Integrated Communications at Waterhouse Brands, emphasized the growing importance of reputation in biotech deal-making amid a turbulent 2025.

In an interview with Fierce’s Chris Hayden, Clevenger reflected on her 30-year career in healthcare communications and her recent transition to Waterhouse Brands. She described 2025 as a year marked by uncertainty, with geopolitical tensions and market instability forcing biotech firms to adapt quickly.

“The first half of the year, people buried their heads,” Clevenger said. “But now, they’re realizing this is the new normal.”

Clevenger pointed to two standout deals — Nurix’s $400 million licensing agreement with Sanofi and Regulus’ $1.7 billion acquisition by Novartis — as examples of companies that succeeded by having clear vision, strong science and strategic positioning.

“These companies knew their story, had credibility and could execute,” she said. “That’s what attracts the right partners and investors.”

Clevenger introduced the concept of “reputational pull,” describing it as the intangible force that draws stakeholders toward a company. Unlike traditional PR, which she called a “reputation push,” reputational pull stems from authenticity, trust, and a strong narrative.

“Reputation can be the most valuable asset on your balance sheet,” she said, urging biotech leaders to “start with the end in mind” and build credibility early.

She cited Sarepta’s work in Duchenne muscular dystrophy as a model for patient-centered transparency, noting that the company’s deep trust with the community has helped it weather recent challenges.

“Reputation is the sum of all parts,” Clevenger said. “It’s what sets the stage for long-term success.”