We regret that we were unable to attend the panel discussions at BioTrinity last week. However, an excellent summary was posted on the PharmaPhorum web site. Of note:
1. Investment syndication is becoming increasingly important.
2. Big pharma/Big biotech are looking at earlier-stage assets, perhaps more so than ever. Even early-stage technologies coming out of academia are generating renewed interest.
3. Having technology is not always enough. As the authors note:
The pharma representatives urged the biotech companies to take a long term commercial perspective. They highlighted the necessity for a solid regulatory strategy to be reviewed and incorporated into their plans at an early stage. In addition, thoughtful consideration of payer issues as well as identifying biomarker and diagnostic partners in early development could avoid bumps in the road further down the line.
We believe that this last point is critical. Gone are the days when a “cool” technology and a solid management team was sufficient to generate investor and/or partner interest. Techno-centric business plans must have a robust regulatory and commercial analysis included in the plan. Fortunately, there are an ample number of high-quality consulting firms and other resources that can efficiently provide this increasingly necessary research as part of an overall business and out-licensing plan.