WTF does Seymour even have to do, other than take his Geritol and avoid making a dumbass out of himself in public?
The company has three steps to take, none of which require Seymour's time or input:
1) Send compounds to labs for testing.
2) Pick lead
3) Pay CROs to complete tox and chemistry for IND application package.
Seymour's experience as a physician a half century ago in no way qualifies him to have any role in this.
If he's hired one or two experienced drug development folks as project managers, Seymour's job is done and he can lapse back into his geriatric torpor and collect his $600K.