Biotechs and investors seeking to build companies that achieve scale and success at bringing innovative assets to market should take the following steps:
- Go global. Be open to following talent, money, and opportunities beyond your home country and region. Go East or West, particularly to the United States and China, to build a global organization, global networks, and global credibility.
- Think unicorn. Focus on securing cornerstone investors, and don’t shy away from large investment rounds.
- Stand out. Differentiate the company to attract, grow, and retain the talent needed to support successful clinical development and launch; embed digital and analytics capabilities in day-to-day operations.
- Focus on execution. Define areas of uniqueness, and design your development programs, go-to-market models, and commercial operations in line with your assets, not today’s budget.
The broader biotech ecosystem could provide more support for biotechs in securing funding and developing capabilities by taking the following actions:
- Power early-stage translation. Increase the speed and effectiveness of technology transfer in turning academic innovations into patents, companies, and pipeline products.
- Incubate innovation. Nurture a risk-taking culture to facilitate early growth and rapid successes.
- Invigorate public markets. Extend regional collaboration to combat market fragmentation, and maximize knowledge sharing to make private- and public-funding systems globally competitive.
Decisive action on these seven fronts could help to strengthen both the biotechs and the ecosystem that supports them with the resources needed to take innovative discoveries to market.
Read more in our article “Can European biotechs achieve greater scale in a fragmented landscape?” and download our full report.
