Leadership in Innovation: Mutlu Erturan’s Journey to CEO of Mage Biotechnologies

Mutlu Erturan, the CEO of Mage Biotechnologies, is a seasoned executive with a rich background in biotechnology, e-commerce, and financial services. Currently leading innovation in the biotech sector, she focuses on making advanced biotech solutions accessible to a wider audience. Mutlu’s extensive experience includes significant leadership roles at IBM, where she excelled in business process improvement and management consulting. At Hepsiburada, she led the company’s successful IPO at Nasdaq, showcasing her prowess in commercial strategy. Holding an MBA from Nottingham University Business School and a degree in Economics from Middle East Technical University, her academic credentials further bolster her strategic vision. Mutlu’s leadership is marked by a proven track record in strategic transformation and innovation. Under her guidance, Mage Biotechnologies is poised to revolutionize the biotech landscape. Her multifaceted expertise positions her as a pivotal figure in driving the future of biotechnology.

Can you describe your journey from your early career in economics to becoming the CEO of Mage Biotechnologies?

The late 1990s was a booming era for banking, presenting great opportunities for new graduates. I began my career in banking, but it soon became clear that I wouldn’t thrive in that sector for long. While exploring other opportunities, the bank I worked for sponsored my MBA degree in the United Kingdom. Upon my return, I started advising the bank’s board, eventually led me to the consulting business.

I joined IBM Consulting Services and spent eight years there, leading consulting services in Turkey. Towards the end of my consulting career, digital transformation was a hot topic, and it was through this trend that I met Hepsiburada. At that time, e-commerce was a nascent sector, but I was excited by its potential and the belief that it would become a game-changer for the future.

During my eight years at Hepsiburada, the company, especially during the COVID lockdowns, grew exponentially. I was one of the leaders driving this growth. When I left e-commerce, I had executive board memberships in various sectors, but I was ready for a new challenge.

That’s when Mage Biotechnologies came along. Longevity has always been a keen interest of mine, and I have been following the industry closely. What had been a passion of mine over the years became my career. I am fully motivated by growth and new developments, and transitioning to Mage was a perfect fit. I am thrilled to be part of an industry poised to impact human health span and lifespan significantly.

What inspired you to transition from e-commerce and financial services to the biotechnology sector?

The transition from e-commerce and financial services to the biotechnology sector was driven by a combination of personal interest and a desire to make a more profound impact. Throughout my career, I’ve always been passionate about industries that are on the cusp of innovation and growth. E-commerce provided a thrilling ride, especially during its exponential growth phase, but I felt a strong pull towards an industry that could directly enhance human well-being.

Moreover, my interest in longevity and the science behind it has been growing over the years. I was fascinated by the groundbreaking research and developments aimed at enhancing human health and lifespan. The opportunity to be at the forefront of such a transformative industry was too compelling to pass up. It allowed me to combine my enthusiasm for innovation with my desire to contribute to a sector that promises to revolutionize human health.

Mage Biotechnologies focuses on making advanced biotech solutions accessible. Can you share some of the innovative projects or products currently under development?

At Mage Biotechnologies, our mission is to democratize advanced biotech solutions and ensure they are accessible to all. While many advancements in the sector are still in the research and development stage, we focus on both current and future innovations.

Our projects include cutting-edge solutions in stem cells and exosomes, which have the potential to reverse ageing at the cellular level. We are proud to be the only company offering comprehensive solutions for both external and internal longevity. We aim to provide immediate benefits to clinicians and practitioners while also developing groundbreaking treatments that will become available over the next decade.

How has your experience at IBM and Hepsiburada influenced your approach to leadership and innovation at Mage Biotechnologies?

My experience at IBM and Hepsiburada has profoundly shaped my leadership style and approach to innovation at Mage Biotechnologies. Working in a hyper-growth sector like e-commerce and a global giant like IBM taught me the importance of being both flexible and agile. At the same time, it underscored the necessity of planning processes and structures with the future in mind, envisioning the company as a potential billion-dollar enterprise.

This dual perspective allows me to maintain the innovative and nimble spirit crucial for a biotech company while ensuring we build robust systems that can support significant growth. Team building and fostering a culture of continuous innovation are key drivers in my leadership approach, ensuring we can scale effectively without losing our entrepreneurial edge.

Business process improvement and strategic transformation are among your core strengths. How do you apply these skills in the context of a biotech company like Mage Biotechnologies?

Strategic thinking and business process management have always given me a head start in new companies, product launches, or department setups. At Mage Biotechnologies, I view every business interaction as a process, whether it’s customer-facing, financial, or operational.

By designing efficient customer processes and aligning our strategies and internal operations accordingly, we increase our chances of success. This holistic approach ensures that all elements of the business work together seamlessly, fostering innovation and growth while maintaining high standards of efficiency and effectiveness.

With an MBA from Nottingham University Business School and a degree in Economics from Middle East Technical University, how has your educational background shaped your career and leadership style?

My educational background provided a strong foundation, but the real key to my success has been continuous adaptation and learning. While my degrees from Nottingham University Business School and Middle East Technical University were invaluable at the time, the business landscape has changed dramatically with the rise of AI and other technologies.

The true importance of a good education lies not just in the knowledge gained, but in the network and foundational skills it provides. However, ongoing success depends on continuously educating oneself, staying updated with new technologies and best practices from various sectors, and being willing to reskill regardless of age or position. In the longevity business, this mindset is crucial, as embracing lifelong learning and adaptability ensures we stay at the forefront of innovation and leadership.

What are some of the most significant trends you see in the biotechnology sector, and how is Mage Biotechnologies positioning itself to capitalize on these trends?

The biotechnology sector is experiencing significant investment from private funds and is at the heart of global economic advancements. Currently, the global average lifespan is 74 years, but the average health span is only 62 years. This means the last 12 years of life are often burdened with age-related diseases like cardiovascular disease, diabetes and Alzheimer’s. These conditions are preventable or can be delayed with the right interventions.

Biotech is rapidly evolving, with our knowledge doubling approximately every 72 days. In the next 15 years, we anticipate reaching a longevity velocity, which will dramatically transform how we approach ageing and healthspan.

Mage Biotechnologies is strategically positioned to leverage these trends. We focus on providing cutting-edge solutions to clinicians and the public while continuously innovating based on the latest advancements. Our medical devices, such as stem cells derived from fat tissue, are being applied in various fields including orthopaedics, gynaecology, and plastic surgery.

Our cosmetic line, featuring creams and serums for hair and skin, is groundbreaking due to its cellular-level improvements, a first in the cosmetic industry. This technology, utilizing exosomes, is set to revolutionize the skincare market.

We are committed to developing solutions that enhance both external and internal longevity, with several innovations set to be released in the next six months to two years. Our proactive approach ensures we remain at the forefront of this rapidly advancing industry, delivering transformative health solutions.

As a leader in a highly dynamic and innovative field, how do you foster a culture of innovation and continuous improvement within your team?

I believe that culture is shaped by the people and teams that form it. Instead of imposing a culture of innovation and advancement, we seek out individuals who naturally embody a mindset of innovation and drive. 

With such team members, we encourage taking educated risks and view failures as learning opportunities. This approach allows our people to experiment, learn from their experiences, and continuously push the boundaries of what is possible. By fostering an environment where it is safe to fail and innovate, we ensure that new ideas are constantly being tested and refined, driving continuous improvement and advancement.

What advice would you give to aspiring leaders who are looking to make a significant impact in diverse industries such as biotechnology, e-commerce, and financial services?

Regardless of the sector, making a significant impact comes from deep knowledge and expertise, which stem from curiosity. My advice to aspiring leaders is to never lose their curiosity and to constantly seek out new knowledge. 

It’s essential to connect the dots between different sectors, businesses, cultures, and advancements. By understanding and integrating diverse perspectives and innovations, you can create unique solutions and drive meaningful change. Stay curious, stay adaptable, and always look for ways to learn from every experience and industry.