Life Science Business Development: notice board entry
This is a public group
Business Scenario 1:
- Posted by:
- Martin Pohle (group admin)
- Date:
- 20 March 2007
- Comments:
- 2 comments
A small Life-Science firm specializes in testing of food and water for suspected germs. According to very strict German hygiene laws, all foods and beverages production must be monitored by microbiological testing routines.
Until now, the firm uses techniques employing spectroscopy. Currently the firms proprietary testing system is sold under an own brand name, but so far large-scale sales have not kicked in yet.
In a partnership with a research institute nearby, the firm tries to license an advanced technology plattform, using electrical microarrays (vulgo Biochips).
In the same way the company is willing to enter new markets besides the highly competitive food & beverage industry. Therefore it seeks to contact large chemical companies residing in the region.
Q:
How can my company exploit this situation in order to shape a business development case, producing revenue for us??
From my standpoint, the first thing you need to have is a solid business case which you can pitch to the chemical companies. The case should specify, (a) how the advanced technology platform helps your prospects and (b) why it is better for them than the current technology they might be using. ROI calculations are always hard, but I suspect, to sell this to the firms, you need to convince them that the technology works and there is an ROI for them.
Of course, first the firm needs to know how many customers they need in the chemical space for in-licensing being a worthwhile effort
Martin,
Let me introduce myself a little, I am a drug discovery scientist in FL, obtaining my executive MBA next year with focus on Marketing and Management. I have numberous publication on proteomics and I have been paying attention to the “omics” world. Thus, your case is very very interesting to me. Here is what I think:
Microarry market is slowing down (please do some market research). As we all know, the gene level study most of the time give little physiological relevance. Anyone who ran a gene chip before knows the chance to repeat the genes alteration from chips in RT-PCR is random, leave along the protein level. I think most industry will be stop using microarray study. So, your targeted market will be academic labs. With that, you should know what marketing strategy you should be adopted.
If I assume correctly, the microarray technology you want to license is base on Hintsche paper on Analytical and Bioanalytical Chemistry. I think it will be wise to advance this technology to proteomic chips, using the paramagnetic nanoparticles as carriers of the bioanalytical interface in ELISA format. Proteomics market a project to be double in the next decade. If you can partner with some antibody company, it will make the company to become the pioneer of this technology. It should help you company to increase market share of “omics” biotech.
One last thing, it is easy for a company to produce revenue. It is hard to produce profit. Good Luck.