So you want to build a life sciences company? Scientifically speaking, you have some very promising ideas. Entrepreneurially speaking, you could use some advice.
The sine qua non to success of an emerging life sciences company is the creation and development of innovative human therapeutics, from small-molecule chemicals to larger-molecule biologics. But good science will not succeed alone. There are a number of critical components to building a biotech business, many legal or quasi-legal in nature: (a) protection of intellectual property rights, (b) navigation of the IP rights of others, (c) management of the product life cycle, (d) development of skilled leaders at each stage of the company’s growth, (e) an expert board of directors, (f) a well-thought-out commercialization strategy, (g) a sound financing plan, and (h) a strategy for maturation. Let’s explore each component.
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