Innovation, Commercialization, and Start-Ups in Life Sciences

Innovation is a translation of a new method, idea, or product into reality and profit. It is a process of connected steps that accumulates into a brand reputation required for success. Unlike Fortune 500 companies, whose projects are self-funded, a start-up must simultaneously have a value proposition that attracts a customer (for revenue), investors (for capital), and acquirers (for a liquidity event or IPO). A high percentage of start-ups fail before attaining positive cashflow, due to a variety of reasons that are detailed in this book.

Avoiding the pitfalls and wrong turns are the goals of this book. Innovation, Commercialization, and Start-Ups in Life Sciences details the methodologies necessary to create a successful life science start-up from initiation to exit.

Written by an expert who has worked with more nearly 500 life science start-ups, this book discusses specific processes and investor milestones that must be navigated to align customer, funder, and acquirer needs. Successful commercialization requires attention to multiple constituents, such as investors, regulators, and customers. Investors require liquidity for their return, which is achieved through selling their stock in a public or private sale. The reader will gain an appreciation for the necessary data, partnerships, and skills needed to create a competitive and sustainable company. The author discusses such specific issues as customer problems, demonstrating sales access, and ensuring intellectual property is impervious to competitive advancement. This book is intended to be suitable for entrepreneurs, venture capitalists, and investors in both business and academic settings. These organizations have specific departments, such as R&D, operations, business development, legal, regulatory, and marketing, that would also benefit from this book.

FEATURES

• Focuses specifically on life science start-ups
• Examines how to determine a company valuation and future "fundable milestones"
• Explores how to align regulatory and clinical strategies
• Discusses intellectual property derived from a university or individual through formation to exit.
• Reviews how start‐ups must simultaneously meet the needs of multiple constituencies at once: investors, regulators, customers and exit candidates

James F. Jordan is an author, consultant, and speaker. He is a Distinguished Service Professor of Healthcare & Biotechnology Management, a former Fortune 100 executive, and a managing director of a venture fund.

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Cover design by Sarah Mailhott.