The industry’s focus on living human beings and highly regulated standards make it a unique challenge for business leaders. These features make the industry an ideal environment for innovation. They have resulted in major breakthroughs the production of biofuels and agricultural yields and life-saving pharmaceuticals.
When it comes to strategies for generating revenue biotech startups have a variety of options. The majority opt for a technology partnership or an asset creation-and-out licensing strategy. Technology partnering generates faster revenue, but with less financial risk while an asset creation and out-licensing strategy generates significantly higher returns if successful. An increasing number of research-stage biotechs operate an hybrid model that blends both approaches.
Those who choose a product-oriented strategy can achieve commercial success in the event that they manage to bring their pipelines to the right place, and attract a large pharmaceutical partner or an investor with a large sum of money. This can be an expensive venture. It is crucial to balance the opportunistic approach of leveraging assets from outside and make best scientific decisions for the development of home-grown products.
Alternatively, the “platform” model can provide an alternative path to revenue. It’s a less costly alternative to the product-oriented approach, but it also involves significant risk. In this model, a biotech owns and develops its platform technology before collaboration with big pharma firms to create a portfolio drug discovery projects that specifically target diseases (i.e., disease the x gene within biology y). Advinus Therapeutics, among others have embraced this model.
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