What wasn’t possible just 20 years ago, is steadily increasing in both possibility and popularity: small biotechnology and biopharmaceutical companies facilitating their own commercialization process and launch. According to this article by McKinsey & Company, first-time launchers in biotech and biopharma have accounted for “more than a quarter of all new molecular entities submitted to the US FDA since 2016.” What does this mean? Small companies with a focus on differentiated sciences that don’t fit the big pharma model have more opportunity to bring their treatments and technologies to market.
This is partly thanks to the increase in funding and resources for independent launchers from interested venture-capital investors, as well as the talent available to recruit and pull from, including vendors who specialize in the commercialization process. This is where companies like KASTx Ventures become a vital resource for small companies on the road to commercialization. For biotechnology research, this road can be long and expensive, with an ever-growing team of experts needed to aid and accelerate every phase of the clinical and development process.
Teaming up with a company like KASTx ensures connections to networks of experts and investors that streamline and simplify the process so researchers can focus on what they’re most interested in, the science.
Having this core team of experts early on is one of the key factors in successful first-time launchers, according to the McKinsey & Company article. This way, the day-to-day and long-term objectives are kept on top of from the start, so teams aren’t scrambling come launch time. In fact, all indicators of strong start ups from McKinsey & Company’s research come back to having a strong team of people who support operations and have the required expertise to get the job done. These include having a vast network to pool key insights from to understand how the drug will be received in the chosen market; investing experts who are able to acquire and target launch-funds for all components including sales-force, marketing, and administrative tasks; and having people designated to tracking metrics and whether goals leading up to launch day are consistently being met, and to advise fast adjustments if they aren’t. Having this big-picture approach to the launch while establishing a solid team at early research stages means long term objectives are kept top of mind, while day-to-day needs continue to be met.
Even if your launch team is relatively small, you can make it mighty by directing important time and resources to the right people to do the job.
At KASTx Ventures, this is what our operations are powered by; experts who are the best at what they do. We have experts for every area needed to support researchers to see their life’s work move from bench to the bedsides of the patients who need them most.
Want more information on what it means to work with us? Get in touch today: https://kastxventures.com/challenge/