Biotechnology Entrepreneurship

As an authoritative guide to biotechnology enterprise and entrepreneurship, Biotechnology Entrepreneurship and Management supports the international community in training the biotechnology leaders of tomorrow. Outlining fundamental concepts vital to graduate students and practitioners entering the biotech industry in management or in any entrepreneurial capacity, Biotechnology Entrepreneurship and Management provides tested strategies and hard-won lessons from a leading board of educators and practitioners. It provides a ‘how-to’ for individuals training at any level for the biotech industry, from macro to micro. Coverage ranges from the initial challenge of translating a technology idea into a working business case, through securing angel investment, and in managing all aspects of the result: business valuation, business development, partnering, biological manufacturing, FDA approvals and regulatory requirements. An engaging and user-friendly style is complemented by diverse diagrams, graphics and business flow charts with decision trees to support effective management and decision making. Provides tested strategies and lessons in an engaging and user-friendly style supplemented by tailored pedagogy, training tips and overview sidebars Case studies are interspersed throughout each chapter to support key concepts and best practices. Enhanced by use of numerous detailed graphics, tables and flow charts

"Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize-winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the major pharmaceutical companies had been doing for a century or more, but without the advantages of scale, scope, experience, and massive resources. How could a large collection of small companies, most with fewer than 50 employees, compete in one of the world's most breathtakingly expensive and highly regulated industries? This book shows how biotech companies have met the challenge by creating nearly 40% more of the most important treatments for unmet medical needs. Moreover, they have done so with much lower overall costs. The book focuses on both the companies themselves and the broader biotech ecosystem that supports them. Its portrait of the crucial roles played by academic research, venture capital, contract research organizations, the capital markets, and pharmaceutical companies shows how a supportive environment enabled the entrepreneurial biotech industry to create novel medicines with unprecedented efficiency. In doing so, it also offers insights for any industry seeking to innovate in uncertain and ambiguous conditions. Looking to the future, it concludes that biomedical research will continue to be most effective in the hands of a large group of small companies as long as national healthcare policies allow the rest of the ecosystem to continue to thrive"--

This book is aimed at providing a large audience, including practitioners, politicians and decision-makers, with useful insights in relation to innovation and entrepreneurship in the biotechnology industry. It offers an international perspective and a set of theoretical lenses to underline the roles and the effects of entrepreneurship and scientific innovation as key factors to support new firm emergence and to achieve and maintain competitiveness in this so important industry. Alain Fayolle, EM Lyon, CERAG Laboratory, France and Solvay Business School, Belgium The biotechnology industry across the globe is growing dramatically in line with rapidly emerging scientific and technological developments. This book explores both the theoretical and practical aspects of entrepreneurship in the biotechnology industry, focusing on the innovation processes underpinning success for new biotechnology firms (NBFs). It argues that biotechnology is at a crossroads: to date the science has been solid, yet commercial success remains elusive, and that it will be the commercial success of NBFs which will dictate the long term viability of this crucial industry. The authors go on to examine the roles played by both entrepreneurship and innovation in the competitiveness of biotechnology companies through a focus on: intellectual property strategies, product development, valuing biotechnology ventures, funding innovation and R&D, alliances and networking, changing industry structures evidenced through the shifting value chain and the impact of globalization on the changing industry and organizational life cycles. International case studies with a focus on human biosciences support the important theoretical developments at the heart of this book. Innovation and Entrepreneurship in Biotechnology offers original and valuable insights to researchers, academics and students as well as to practitioners involved with innovation and entrepreneurship in the field of biotechnology.

In terms of becoming a successful bioentrepreneur, there is still much more to learn. There are many ways to learn the essential fundamentals of entrepreneurship, including through the mistakes of previous businesses and models. Increased knowledge and a better understanding of what works can be derived from these previous failures and mistakes. Additionally, learning from other bioentrepreneurs can help businesses run successfully. By looking deeper into business models, product development, the fundamental concepts of bioentrepreneurship, and the essential characteristics of bioentrepreneurs, one can become better equipped to understand the role of biological sciences in entrepreneurship, specifically the role of product development. Bioentrepreneurship and Transferring Technology Into Product Development provides a comprehensive understanding of the role of biological sciences, specifically in transforming technology into commercial product. This book compiles the theoretical and practical aspects of bioentrepreneurship and discusses the various factors, including creating business plans, acquiring funding, and successful business models. The chapters also cover areas such as small-scale product development, intellectual property rights, funding schemes for start-ups, and new prospective biotechnology product development. This book is essential for bioentrepreneurs, entrepreneurs, product developers, scientists, practitioners, researchers, academicians, and students interested in product development from a biological science perspective.

Research and development of novel medicines for human therapy commonly takes over a decade before significant revenues from sales are forthcoming. How can biotechnology companies be founded and grow successfully in an industry with such extended innovation processes? The book investigates this problem and distinguishes three growth phases: From incorporation and start-up through collaborative R&D with large pharmaceutical firms to value creation from R&D pipelines to Public Offerings and product marketing. In this book a dynamic simulation model for testing different decision-making strategies is developed. For each phase the author identifies decision rules that provide for successful corporate growth.

The process of innovation in life science is capital intensive, associated with a high risk as well as highly regulated and is therefore distinct from other types of innovation. This book closes the educational gap in life science entrepreneurship and fills a market niche. It allows you to understand, manage and successfully lead the innovation process in life science. Learn how to develop and successful market biomedical technology Increase the return of your investments in biomedical innovation Get ready for a new career in a life science start-up Discover how to transfer a bio- or medtech project from academia to industry Obtain a comprehensive overview of the innovation process in life science

Primarily intended for biotechnology graduates, this handbook provides an overview of the requirements, opportunities and drawbacks of Biotech Entrepreneurship, while also presenting valuable training materials tailored to the industrial and market reality in the European Biotech Business. Potential investors and business consultants will find essential information on the benefits and potential risks involved in supporting biotech businesses. Further, the book addresses a broad range of Biotechnology fields, e.g. food biotech, industrial biotech, bioinformatics, animal and human health. Readers will learn the essentials of creating innovations, founding a biotech start-up, business management strategies, and European funding sources. In addition, the book discusses topics such as intellectual property management and innovation transfer. The book offers a comparative analysis of different countries’ perspectives and reviews the status quo in Western and Eastern European regions, also in comparison with other leading biotech countries such as the USA and Canada. A long list of potentially profitable biotech start-up ideas and a collection of success stories involving European companies are also included. The book is based on the Erasmus+ Strategic Partnership project “Supporting biotechnology students oriented towards an entrepreneurial path” (www.supbioent.usamv.ro), which involved the collaboration of Life Sciences and Economics departments at higher education institutions throughout Western and Eastern Europe.

This second edition of Biotechnology Entrepreneurship: Leading, Managing, and Commercializing Innovative Technologies is an authoritative, easy-to-read guide covering biotechnology entrepreneurship and the process of commercializing innovative biotechnology products. This best practice resource is for professional training programs, individuals starting a biotech venture, and for managers and experienced practitioners leading biotech enterprises. It is a valuable resource for those working at any level in the biotech industry, and for professionals who support and provide essential resources and services to the biotech industry. This practical, “how-to book is written by seasoned veterans experienced in each of the operational functions essential for starting, managing, and leading a successful biotech company.Biotechnology Entrepreneurship explains the biotech business components and underlying strategies, interspersed with practical lessons from successful biotech entrepreneurs, educators, and experienced practitioners. These veteran contributors share their insights on how to be successful in this challenging but exciting industry. Subjects range from technology licensing and translating an idea into a viable business, forming your legal company entity, securing angel and venture capital, navigating product development, FDA regulatory approval, and biomanufacturing.This book is a user-friendly guide to decision-making and overall strategy written as a hands-on management tool for leaders and managers of these dynamic biotechnology ventures. If you are contemplating starting a biotech company, are a manager at any level, a seasoned veteran, or service provider in the biotech industry, this book is a “must read. This second edition includes several new chapters on topics such as: What you need to know about valuation and term sheets Investor presentations and what you need in a biotech investor pitch deck Mentorship and why you need mentors Artificial intelligence applications in biotech and pharma Common biotech entrepreneur mistakes and how to avoid them