Introduction What makes a Biotech Entrepreneur? Start with the Idea: Licensing and Protecting Core Assets Significance of the Right Business Model and Managing Risk Legally Establishing the Company The Product Development Pathway: Charting the Right Course Developing a Marketing Strategy Financing your Company: Part 1. Raising Money, Capital Needs and Funding Sources Financing the Company: Part 2: Funding Stages, Valuation and Funding Tools Corporate Culture and Core Values in a Biotech Company Hiring a Biotech Dream Team Strategic Alliances and Corporate Partnerships The Regulatory Process for Biotech Products Company Life Stages and Changing Management Styles When Do You Call it Quits? Conclusions and Serendipity Practical Help: How to get Started? Glossary Additional Reading Index
The Business of Bioscience: What goes into making a Biotechnology Product captivatingly describes the unique and challenging facets within the exciting field of biotechnology business and medical product innovation. Biotechnology is the melding of business and science and, therefore, creates different challenges than those faced by other industries. There are longer development times, costly product development and clinical trials, unique talent requirements, and a changing regulatory environment. In this book you will find practical answers to: Why does it take so long to develop a biotechnology product? What is involved in making a therapeutic or diagnostic? How much money is needed to develop a product idea from bench to bedside? What are the characteristics and backgrounds of entrepreneurs who lead these organizations? How do you go about starting a biotechnology company? This book contains a wealth of technical, business and leadership insights conveyed with a "behind the scenes" look into the everyday challenges in biotechnology product development.rnThe Business of Bioscience is written in a step-wise fashion building upon precepts and summarizing best practices for establishing and growing a successful biotechnology company. Content is presented in a way that is applicable to the novice, through to the experienced biotech or pharmaceutical executive and will interest all audiences having an interest in this dynamic field. Fundamental topics are covered in informative and interesting detail such as the selection of product development milestones and their impact on the valuation of the company, choosing a company business model and managing risk, hiring a biotech dream team, the virtual company, the regulatory process for approving products through the FDA, clinical trials and objectives and raising multiple forms of capital. Within this book you will also learn practical aspects that can be applied to virtually any organization. Such topics include developing a company culture and its hidden competitive strength; leadership and core values - not just for managers but for all employees; the organizational life stages of a company, when and why management style needs to change. This book is a tremendous resource for scientists, professors, medical researchers, pharmaceutical industry employees, venture capital professionals, biotechnology research analysts, business persons, MBA students and those who have a curiosity about what goes into the development of a biotechnology product. TOC:Introduction.- What makes a Biotech Entrepreneur?- Start with the Idea: Licensing and Protecting Core Assets.- Significance of the Right Business Model and Managing Risk.- Legally Establishing the Company.- The Product Development Pathway: Charting the Right Course.- Developing a Marketing Strategy.- Financing your Company: Part 1. Raising Money, Capital Needs and Funding Sources.- Financing the Company: Part 2: Funding Stages, Valuation and Funding Tools.- Corporate Culture and Core Values in a Biotech Company.- Hiring a Biotech Dream Team.- Strategic Alliances and Corporate Partnerships.- The Regulatory Process for Biotech Products.- Company Life Stages and Changing Management Styles.- When Do You Call it Quits?- Conclusions and Serendipity.- Practical Help: How to get Started?- Glossary.- Additional Reading.