The industry’s focus on living human beings and highly controlled standards create unique considerations for business leaders. These aspects make the sector an ideal environment for innovation. They have resulted in major breakthroughs in agricultural yields, biofuels, and life-saving pharmaceuticals.
When it comes to strategies that generate revenue 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 generates faster revenues with less risk of financial loss, while out-licensing and asset creation strategy will yield greater returns if it’s successful. An increasing number of biotechs in the research stage operate a hybrid model which combines both strategies.
Those who choose a product-oriented strategy can achieve commercial success in the event that they manage to bring their pipelines up to the right stage, and attract a large pharmaceutical partner or a financier with deep pockets. This is a costly proposition, however, and managing opportunistic approaches to leverage outside assets with the right research-based decision making about homegrown projects is vital.
The “platform” model is another alternative to generate revenue. It is less expensive than product-oriented research, but comes with a high risk. In this model biotechs develop and own their own platform technology prior to teaming with big pharma to develop a portfolio of drug discovery projects aimed at specific diseases (i.e. disease of x in biology). Advinus Therapeutics, among others, have adopted this approach.
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