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Innovation, Commercialization, and Start-Ups in Life Sciences [Hardback]

(Carnegie Mellon University, Pittsburgh, Pennsylvania, USA)
  • Formāts: Hardback, 234 pages, height x width: 234x156 mm, weight: 521 g, 7 Tables, black and white; 29 Illustrations, black and white
  • Izdošanas datums: 05-Nov-2014
  • Izdevniecība: CRC Press Inc
  • ISBN-10: 1482210126
  • ISBN-13: 9781482210125
Citas grāmatas par šo tēmu:
  • Formāts: Hardback, 234 pages, height x width: 234x156 mm, weight: 521 g, 7 Tables, black and white; 29 Illustrations, black and white
  • Izdošanas datums: 05-Nov-2014
  • Izdevniecība: CRC Press Inc
  • ISBN-10: 1482210126
  • ISBN-13: 9781482210125
Citas grāmatas par šo tēmu:
Innovation is the translation of a new method, idea, or product into reality and profit. It is a process of connected steps that accumulates into your brand or reputation. However, there can be many pitfalls and wrong turns on the road to realizing this goal. Innovation, Commercialization, and Start-Ups in Life Sciences details the methodologies necessary to create a successful life sciences start-up from initiation to exit. You will gain an appreciation for the necessary data, partnership, and skills to be acquired and the constituencies that must be satisfied along the way.

The book examines how life sciences start-ups can create an exit for their investors by recognizing that a liquidity event is not consummated without due diligence. Due diligence is bigger than validating accounting transactions. It ensures the company is solving an important customer problem, demonstrating sales access, and making sure that intellectual property is impervious to competitive advancement. The due diligence process supports the telling of a compelling story to customers, investors, regulators, and acquirers.

Written by an expert who has worked with more than 200 life sciences start-ups during the past decade, the book discusses specific processes and investor milestones that must be navigated to align customer, funder, and acquirer needs. It examines these processes from the perspective of marketing value through a focus on the needs of individual constituentsinvestors, regulators, customers, and exit candidates. The book presents data and analytical processes articulating the fundable milestones for angel and venture capital. It gives you the tools needed to create branding for public investors and more.

Recenzijas

"So how do you get more new innovative technology to market? Well, you take risks for sure, but you have to have a process for churning the evolution of technology and turning concepts in the minds of researchers and entrepreneurs into commercialized products in the market. The contents of this book will not only do that for the reader, but the book will also show the pitfalls to avoid along the way. Not every good idea is able to get to market. And what causes innovators to fail? The answers to these and other important questions are addressed in the book." From the Foreword by John W. Manzetti, President and CEO, Pittsburgh Life Sciences Greenhouse, Founder, Managing Director, PLSG Accelerator Fund

"This book, and the approach the author describes in it, is based in extensive real-life experience. The author gives the reader the theory behind innovation and commercialization, but then adds the application details only an experienced professional can deliver. ... I like the fact that the book is driven from the perspective of the investor versus the technologist or policy analyst. ... I think the author has written a very useful guide that is clear and compelling." William Donaldson, Christopher Newport University, Newport News, Virginia, USA

Foreword xiii
Acknowledgments xv
The Book's Web Sites xxi
Section I Innovation Is A Process Of Connected Steps
1 Investment Uses a Translation Process to Deliver Innovation
3(6)
2 Investment Is Critical to a Nation's Prosperity
9(2)
3 The Journey of Innovation Begins with Investment
11(8)
4 The United States Helps Small Companies Conduct R&D
19(6)
5 Commercialization Is Primarily Executed through Two Organization Types
25(8)
Section II Investment Must Be Connected To Exit
6 Angels and Venture Capitalists Invest in Commercialization
33(18)
The Stages of Start-Up Financing
33(5)
The Players in Start-Up Financing
38(13)
7 Create Liquidity for Your Investors
51(8)
8 A Liquidity Event Is Not Consummated without Due Diligence
59(14)
A Start-Up Is Designed to Be Temporary
59(1)
The Reasons for Due Diligence
60(1)
Risks Associated with Due Diligence
61(12)
9 Due Diligence Reputation Is a Critical Business Process
73(18)
Due Diligence Reputation Is a Critical Brand Component
73(1)
Do What You Say, Then They Will Trust What You Forecast
74(2)
Ambiguous Processes Are a Quality Assurance Problem
76(3)
The Components of a Due Diligence Business Process
79(12)
Section III Align With The Industry Norms
10 Find the Industry Norms
91(6)
11 Solve an Important Customer Problem
97(12)
The Disease State Model Identifies the Triggers to Risk and Creating Market Value
102(1)
The Health Care Flow Chart Visualizes the Market's Value Chain
103(6)
12 Demonstrate the Ability to Access the Sales Channel
109(8)
13 Gather Domain-Experienced Personnel to Reduce Risk
117(32)
Government
122(10)
Channel Partners
132(5)
Customers
137(1)
Domain-Experienced Personnel
138(1)
Acquirers
139(1)
Capital Providers
140(1)
Suppliers and Contractors
140(3)
The Management Team
143(5)
A Thoughtful Gathering of Experience Reduces Risk
148(1)
14 Determine the Acquirer's Strategic Future and Purchase Triggers
149(12)
Find Your Targets (Potential Acquirers)
149(1)
Develop Industry Micro and Macro Maps
150(4)
Analyze the Industry's Product Life Cycle
154(2)
Analyze Your Acquirer's Product Life Cycle
156(1)
Finalize Your Target List and Uncover the Acquirer's Purchase Triggers
156(1)
Map Your Start-Up's Exit Points
157(1)
Determine What They Want to Buy: It Could Be More Than IP
157(3)
The Acquirer Purchase Trigger Database
160(1)
15 Align an Investor's Fundable Milestones and an Acquirer's Exit Points
161(12)
Know Your Targets: Arrive Early and Cheaply
161(5)
Add the Acquirer's Exit Points to Your Funding Map
166(1)
Create a Funding Relationship Management System
166(2)
Plot Your Funding Syndicate by Working Backward
168(1)
Create Your Tactical Approach by Investment Class
169(1)
Install a Management and Measurement System
170(1)
Plan-Do-Check-Act (PDCA)
170(3)
16 Create an IP Pyramid for Impervious Positioning
173(10)
Can the Technology Create a Franchise Category?
178(1)
Can the Technology Create a Product Category?
178(1)
Is There a Specific Class of Patient or Clinical Situation Where the Patent Would Be the Obvious Answer?
179(1)
Is There Outcomes Evidence?
179(1)
How Can the Patent Be Built upon over Time to Evolve for Distance as Other Players Attempt to Enter the Market?
179(4)
Section IV A Start-Up Must Tell A Compelling Story
17 Address Your Story to the Needs of All Constituencies
183(4)
The Customer's Story
183(1)
The Acquirer's Story
184(2)
The Funder's Story
186(1)
18 Deliver to Your Plan
187(18)
Mission Statement
188(1)
Executive Summary
188(1)
Overview
189(1)
The Opportunity
189(3)
The Market
192(2)
The Competition
194(2)
The Unfair Advantage
196(1)
Proprietary Relationships
196(1)
Proprietary Knowledge
197(1)
Intellectual Property
198(2)
Regulatory and Reimbursement
200(1)
The Company and Management
201(1)
The Commercialization Plan
201(1)
Capitalization and Exit Strategy
202(1)
Financial Projections and Risks
202(3)
19 Tell a Compelling Story with the Investor Pitch
205(10)
The Preview
206(1)
The Venture Concept
206(1)
The Market Need
207(1)
The Product Offering
208(1)
The Market Opportunity
209(1)
The Competition
210(1)
The Business Model
210(1)
The Commercialization Plan
211(1)
Future Milestones
211(1)
The Management Team
212(1)
Funding Needs
212(1)
The Acquirer's Needs
213(1)
Opportunity Summary
213(2)
20 Continuously Improve Your Message with the Plan-Do-Check-Act Cycle
215(4)
Notes 219(6)
Index 225
Jim Jordan, a Distinguished Service Professor of Healthcare & Biotechnology Management and Senior Director of Healthcare and Biotechnology Programs at Carnegie Mellon Universitys Heinz College, serves as the Chief Investment Officer of the Pittsburgh Life Sciences Greenhouse, a public-private economic and venture fund owned by Carnegie Mellon University and the University of Pittsburgh.

As an accomplished Fortune 20-level executive with companies such as Boston Scientific, Johnson & Johnson and McKesson, Jim has leveraged his experience in several startup ventures and is active on multiple Boards of Directors. Through the Pittsburgh Life Sciences Greenhouse, he has applied his 25 years of experience in industry, consulting and academia to work with over 400 life science startup companies, with direct investment in 75 of them.