The industry’s focus on living human beings and the strict regulations that it imposes make it a unique challenge for business leaders. These attributes make the industry an ideal source of technological innovation, resulting in major breakthroughs that have boosted the yield of agricultural crops, developed biofuels, and even led to life-saving pharmaceutical products.
When it comes to revenue-generating strategies biotech start-ups have a myriad of options. The majority of them choose a technology partnership or an asset-creation-and-out-licensing strategy. Technology partnering can result in more revenue and lower financial risk, whereas strategies for asset creation and outlicensing can generate significantly higher returns. A increasing number of biotechs at the research phase employ a hybrid strategy that combines both strategies.
Those who choose a product-oriented strategy can achieve commercial success when they are www.genotec-frankfurt.de/top-5-simple-virtual-deal-software-for-beginners/ able to bring their pipelines up to the right level, and attract a big pharmaceutical partner or a financier with deep pockets. It can be a costly investment. It is essential to balance opportunistic approaches in leveraging outside assets and the best scientific decisions for home-grown projects.
The “platform” model is a different option to generate revenue. It’s a less costly route than the product-oriented development however, it comes with substantial risk. In this model biotechs have the ability to develop their own platform technology, before teaming with pharma companies to create a range of drug discovery projects that target specific diseases (i.e. disease of x in biology). This is the approach that Advinus Therapeutics and a few others have followed.