The focus of the industry on living human beings and the strict standards it enforces make it a unique challenge for business leaders. These features make the industry an ideal place to foster innovation. They have resulted in major breakthroughs in biofuels, crop yields, and life-saving pharmaceuticals.
When it comes to strategies that generate revenue biotech startups have a variety of options. Most choose a technology partnership or an asset creation-and-out licensing strategy. Technology partnering can bring more revenue and reduce financial risk, whereas asset creation and outlicensing strategies can yield higher returns. An increasing number of biotechs in the research stage operate a hybrid model which combines both strategies.
The people who select a product-focused strategy can reap commercial success when they are able to bring their pipelines to the right stage, and attract a big pharmaceutical partner or an investor with a large sum of money. It can be expensive, however, and managing opportunistic approaches to leverage outside resources while making the right scientific decision-making about projects that are homegrown is essential.
Alternately, the «platform» model is an alternative method of earning revenue. It’s a lower-cost alternative to the product-oriented approach however, it comes with significant risks. In this model biotechs have the ability to develop their own platform technology prior to teaming up with big pharma to develop a portfolio of drug discovery initiatives that target specific diseases (i.e. disease of https://genotec-frankfurt.de/bio-pharmazeutika-werden-zu-einer-anerkannten-form-der-alternativmedizin/ x in biology). Advinus Therapeutics, among others have embraced this model.