The focus of the industry is living organisms, and the highly monitored standards make it a distinct consideration for business executives. These features make the industry an ideal environment for innovation. They have led to major breakthroughs in the production of biofuels and agricultural yields and life-saving pharmaceuticals.
Biotech startups have a myriad of options when it comes to revenue generation strategies, with most opting for a technology-based partnership or an approach to asset creation and out-licensing. Technology partnering can result in higher revenue and lower financial risk, while assets creation and outlicensing strategies can generate significantly greater returns. A growing number of research-stage biotechs operate in a hybrid approach that combines both approaches.
The people who select a product-focused strategy are more likely to achieve commercial success as long as they are able to get their pipelines to the right place, and also find a significant pharmaceutical partner or investor with a deep pocket. This could be a costly proposition but managing opportunistic approaches to leverage outside resources with the right scientific decision-making about projects that are homegrown is key.
In addition, the “platform” model provides an alternative path to revenue. It’s a less costly option than the product-oriented development, but it also involves significant risks. In this model biotechs create and own their own platform technology before teaming with pharma companies to develop a portfolio of drug discovery initiatives that target specific diseases (i.e. disease that is x in biology, y). Advinus Therapeutics, among others, have adopted this approach.
www.genotec-frankfurt.de/biotechnological-synthesis-of-remedies/