Paul Romness

This transcript has been edited for clarity, readability, and flow. Minor adjustments have been made to remove filler words and improve structure while preserving the original meaning and intent of the conversation.

Henry Harrison:
Well, good afternoon, Paul. Welcome to Entrepreneurs, Business and Finance.

Paul Romness:
Hey, Henry.

Henry Harrison:
Paul is one of my very good friends. Even though we live in different cities now, we grew up together in Arlington, Virginia.

When I visit, I often stay at his house—he’s a very generous person. We’ve shared a lot over the years: weddings, family connections, and unfortunately even funerals.

We’ve played plenty of golf together, and I actually had the best shot of my life playing with you down in Dallas one day.

Paul Romness:
That’s right—I remember that very well.

Henry Harrison:
You had a long career in the biopharmaceutical industry, but in recent years you made a big transition into entrepreneurship.

How did that begin?

Paul Romness:
As I often say, startups are no country for old men.

But then I remind myself that the founders of Home Depot didn’t start until they were about 55. So we’re not too old.

Still, I’d recommend entrepreneurship to people younger than us.

The reality is—we didn’t go looking for this. The disease found us.

I had spent my entire career in biopharma—Johnson & Johnson, Amgen, Boehringer Ingelheim—but everything changed in 2017 when my daughter’s best friend, Olivia, was diagnosed with osteosarcoma, a very aggressive bone cancer.

I can literally see her house from my window.

I’ll tell you the ending upfront—she’s doing great now. She’s been cancer-free for six years and even serves on the board of OS Therapies.

But at the time, the odds were terrible. About half the kids diagnosed with this disease don’t survive.

We wanted to change those odds—not just for Olivia, but for others.

Henry Harrison:
And that led to the formation of OS Therapies.

Paul Romness:
Yes.

We initially started with a nonprofit and raised about $3 million for osteosarcoma research.

Then I came across a technology that was being abandoned—likely because osteosarcoma is a rare disease.

But I saw potential in it, and that led us to build OS Therapies.

The goal is to improve survival by preventing recurrence—because that’s where the danger lies.

Henry Harrison:
Can you explain that in simple terms?

Paul Romness:
Sure.

With solid tumors like osteosarcoma:

• The primary tumor is often removed

• Patients undergo chemo and radiation

• If the cancer doesn’t return, they’re fine

But in about half the cases, it comes back—and when it does, it spreads to places like:

• Lungs

• Brain

These are tiny surviving cancer cells—micrometastases—that evade treatment and later grow elsewhere.

Our goal is to prevent those cells from taking hold in the first place.

Henry Harrison:
So you’re targeting the root cause of recurrence.

Paul Romness:
Exactly.

We now have a clinical trial underway:

• 41 patients enrolled

• Across 21 hospitals

Our therapy works by stimulating the immune system to attack those micrometastases.

Even if the trial didn’t succeed, the nonprofit mission would still be fulfilled by advancing research.

But if it does succeed, we bring a new treatment to market.

Henry Harrison:
And there’s a broader opportunity beyond osteosarcoma.

Paul Romness:
Yes.

Initially, we were a one-product company—which is risky.

So we expanded into a second platform: antibody-drug conjugates (ADCs).

I describe ADCs as “cruise missiles with payloads.”

They:

• Target cancer cells precisely

• Deliver therapeutic payloads directly to tumors

• Release those payloads in the tumor environment

This allows us to:

• Attack large tumors directly

• Complement our original therapy, which prevents recurrence

Together, these technologies form a broader platform for treating solid tumors.

Henry Harrison:
That’s a powerful combination—both prevention and treatment.

Paul Romness:
Exactly.

Henry Harrison:
From a business perspective, you’ve shown incredible commitment.

You’ve invested your own money—your retirement, your family’s future—into this.

Paul Romness:
Yes.

There was a local article that mentioned it, and while I didn’t say it directly, it’s true:

• My retirement is in this

• My daughters’ college funds are in this

The boat has left the dock.

Henry Harrison:
That level of commitment is something many entrepreneurs share.

But in your case, it’s tied directly to saving lives.

Paul Romness:
Absolutely.

At Johnson & Johnson, I learned a guiding principle:

• Patient first

• Then caregivers

• Then community

• Then shareholders

If you get the first three right, the last one takes care of itself.

This is what I call a “do good, do well” investment.

Helping bring treatment to kids with a rare disease—that’s incredibly meaningful.

And if we can expand into other solid tumors, the impact becomes even greater.

Henry Harrison:
That’s inspiring.

You’re making real progress, and I believe there’s a lot more ahead.

Thank you for sharing your story—and for the work you’re doing.

Paul Romness:
Thanks, Henry. Talk to you soon.