Eichenbaum Acorns: A full-circle moment in retina for Caroline R. Baumal, MD

Eichenbaum Acorns is an editorially independent series powered by Modern Retina and hosted by David A. Eichenbaum, MD, FASRS, partner and director of research at Retina Vitreous Associates of Florida. This podcast series explores the overlooked corners of the retina profession through candid conversations with thought leaders. Eichenbaum is the Yiddish word for oak tree, and the aim of this series is to plant acorns of insight that grow into oaks of understanding.

In this episode, Eichenbaum speaks with Caroline R. Baumal, MD, recently chief medical officer (CMO) of Apellis Pharmaceuticals, about a career that has moved between clinical practice, academic medicine, imaging research, and industry leadership—and what she has learned along the way.

A career built on early OCT

Baumal’s path began in Toronto, where she completed her undergraduate training at McGill University before returning to Toronto for medical school and residency. She then came to the US for a fellowship in medical retina and lasers at Tufts New England Eye Center, arriving just as prototype optical coherence tomography (OCT) technology was being developed. Baumal recalls working with an early machine that sometimes required an engineer—or a screwdriver—to keep functioning, but says she and her colleagues understood its significance from the start. “We knew this was going to change the field of retina,” she says, “but I don’t think everyone around us knew.”

After Tufts, Baumal pursued surgical fellowship training at Wills Eye Hospital, one of only two fellows working alongside 18 attendings at the time. She cites mentors including Jay Duker, MD; Bill Tasman, MD; and Carl Regillo, MD, as central to her development, noting that even the most demanding experiences in the OR shaped her the most.

From the OR to the C-suite

Baumal went on to build an extensive academic and surgical career in Boston, becoming one of the busiest surgeons at the New England Medical Center while increasingly engaging with industry. That work culminated in an executive role as CMO of Apellis Pharmaceuticals, where she helped launch the first FDA-approved complement-modulating therapy for geographic atrophy (GA). She describes the executive role as demanding “a 24/7 job,” but says she was able to continue seeing patients and performing some surgery throughout, maintaining a large referral practice for diabetic retinopathy and pediatric retina.

Eichenbaum frames Baumal’s trajectory—from clinical work to imaging development to teaching to pharmaceutical leadership and now back to clinical practice—as a circuitous but instructive path. “It’s amazing that in our career you can do a lot of different things,” he says.

Advice for the next generation

Following Apellis’ acquisition by Biogen, Baumal has returned to clinical practice with Mass General Brigham Community Physicians, where she has also opened a small private practice. She continues imaging research through a collaboration with MIT and consults for biotech companies.

Asked what advice she’d give a young physician early in their career, Baumal points first to confidence: “Don’t forget that you are a retina doctor, you are skilled, and you are trained, and there are so many things you can do.” She also emphasizes flexibility over time. “There might be times when you want to have more time for yourself, or there might be times where you want to do more things externally, and that’s okay. Just try to think about what will best serve you at that time in your life.”

What comes next

Looking ahead, Baumal says her time at Apellis—working across GA, renal disease, and hematology programs—reinforced how broadly her clinical training could be applied. She expects to continue consulting while focusing on efficiency improvements in her own practice, and anticipates that AI and technologies like home OCT will open new areas in retina care that haven't yet been defined. “We’re going to have ways that we can bring technology into our practices that are going to be unique,” she adds.