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The industry’s focus on living beings that are human and highly regulated standards create unique considerations for business leaders. These features make the industry an ideal source of creativity, leading to major breakthroughs that have improved agricultural yields, created biofuels, and resulted in life-saving pharmaceutical products.

When it comes to strategies for generating revenue biotech start-ups have a myriad of options. The majority opt for a technology partnership or an asset-creation-and-out-licensing strategy. Technology partnering offers faster revenue with lower risk to the financials, while an asset creation and out-licensing strategy generates significantly higher returns when it’s successful. A growing number of research-stage biotechs operate an hybrid model that blends both approaches.

People who choose an approach that is focused on product development can achieve commercial success in the event that they can bring their pipeline up to the right stage and then attract a major Pharma partner or an investor with a large sum of money. It can be a costly proposition but making sure that you balance opportunistic methods to leverage outside resources with the right scientific decisions about homegrown projects is essential.

The “platform” model is a second alternative to generate revenue. It is a less expensive alternative to the product-oriented approach however, it comes with significant risks. In this model, a biotech owns and develops its platform technology before partnering with big pharma companies to develop a portfolio of drug discovery projects that target specific disease areas (i.e. disease that is x within biology and y). Advinus Therapeutics, among others, have adopted this approach.