Biotech startups rely heavily on the science behind their products. There are a series of common scientific challenges that may initially be overlooked but can determine the success or failure of a young startup.
Recently, a colleague drew my attention to a report about the top reasons a startup company might fail. After postmortems were carried out, failure was usually found to be due to an unwanted product, a lack of cash, and not having the right team, in that order.
Prior to joining Sean O Sullivan Ventures (SOSV) and its startup accelerator RebelBio, I had spent 15 years as a scientist, working both on the lab bench and at the business interface of other biotech startups. During that time, I became familiar with a set of problems often only recognized from the scientist’s perspective that seemed to arise in most companies to varying degrees.
So when I shared the report with a number of former colleagues and other scientists from the broader community, we came to the conclusion that the factors outlined by the report are indeed correct,
The post The Underlying Scientific Issues Making Biotech Startups Fail appeared first on Labiotech.eu.
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