Have You Ever Thought About Starting Your Own Biotech Company?
The Business of Bioscience 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 a business of uncertainty accompanied by unique challenges from those faced in other industries.
In this book you will find practical answers to:
- Why does it take so long to develop a biotechnology product?
- What are the steps involved in making a therapeutic or diagnostic?
- Do I have what it takes to be a biotech entrepreneur?
- What are the important traits of successful biotech entrepreneurs?
- How much money is required to develop a product idea from bench to bedside?
- What is intellectual property and why is it important?
- How is company valuation determined and what can I do to increase it?
- What is risk management, and how does one evaluate these for a start-up biotechnology company?
- How do you go about starting a biotechnology company?
The Business of Bioscience contains a wealth of technical, business and leadership insights conveyed with a “behind the scenes” look into the everyday challenges in biotechnology product development. It is written in a step-wise fashion, building upon precepts and summarizing best practices for establishing and growing a successful biotechnology company.
The 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 a curiosity 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.
Who Should Read
This book is for all those fascinated by the biotechnology industry and those who want to learn of the challenges that accompany the development of a biotechnology product and how to overcome them.
It is for those interested in starting or joining a development-stage biotechnology company such as the entrepreneur, or would-be entrepreneur, and team members in these start-up organizations.
This book is also written for the critical support groups, those whose work supports and partners with the biotechnology industry. These include patent attorneys, executive recruiters and regulators, to name a few. This information will be of interest to those who finance this industry, such as venture capitalists and angel investors.
This book was also written for varied professionals with interest in this industry. You may be an investor, analyst, or someone yearning to learn what goes on behind the scenes in the building of a biotechnology company.
No matter whom the reader— you will learn things applicable to help you work effectively with and in the biotechnology industry. Those who seek guidance and practical insight into the challenges that lie ahead in building a biotechnology company will find this information invaluable.
This book will be a road map for the life science entrepreneur to help navigate the labyrinth of starting and building a successful biotech company. You may be a former pharmaceutical executive with many years of experience; you may be a professor, scientist, or physician with the gnawing desire to build a business based on a breakthrough medical technology.
Even experienced biotech professionals will gain additional insight by seeing the world from the eyes of the entrepreneur to better understand what they can do to support the growth of these biotech companies.
Finally, for those who just want to know the inner workings, challenges, and opportunities within such an organization, they will find that the process of developing a biotech product is not as straightforward as one may think.
This book will enlighten, encourage and educate the reader as they learn to successfully overcome obstacles and reap the rewards in developing a life-saving product through biotechnology.