The focus of the industry is living organisms, and the rigorously regulated standards make it a unique concern for business executives. These features make the industry an ideal incubator for innovations, which has led to major breakthroughs that have improved the yield of agricultural crops, developed biofuels and led to life-saving pharmaceutical products.
When it comes to strategies that generate revenue biotech start-ups have numerous options. Most choose a technology partnership or an asset creation-and-out-licensing strategy. Technology partnering can result www.genotec-frankfurt.de/top-5-simple-virtual-deal-software-for-beginners/ in more revenue and reduce financial risk, while assets creation and outlicensing strategies are able to yield much more returns. An increasing number of biotechs that are in research phase operate in a hybrid approach that combines both approaches.
People who choose a product-oriented development strategy can achieve commercial success when they are able to get their pipeline to the right stage and find a pharmaceutical partner or an investor with a large sum of money. This can be costly, however, and the balance of opportunistic strategies to leverage outside resources while making the right scientific decision-making about projects that are homegrown is essential.
In addition, the “platform” model can provide an alternative method of earning revenue. It is less expensive than product-oriented development but also comes with a high risk. In this model the biotech owns and develops its platform technology prior to working with large pharma companies to create a portfolio drug discovery projects that are targeted at specific diseases (i.e., disease the x gene within biology y). This is the strategy Advinus Therapeutics and a few others have taken.