How Will 2021 Request an Improvement in R&D Strategies? And What is Biopartnering?

science

2020 has tabled many unforeseen challenges as well as opportunities to the Life Science division, most notably of course, with the world population relying on services and solutions provided mostly by biotech and pharmaceutics enterprises. Nonetheless, along with the necessity of being skilled and prepared for facing new versions of the COVID 19, a demand for safer drugs, more liability, and greater value from the life science industry is heightening.

When rising to the occasion, biopharmaceutical corporations are more than ever looking to collaborate with other organizations. A number businesses have already been doing so, and the profitable results have been quickly visible. According to an IBM study, there is a strong nexus between companies that are good at biopartnering and those delivering the best financial outcomes.

So - what is "biopartnering" and how do you make it profitable?

Briefly, it refers to the implementation, management, and development of new collaborations. Successful life science businesses constantly obtain good deals and facilitate potential partners to reach them, building, by doing so, a reputation for being a " collaborator of choice".

An example of this happened in 2019 when four companies; Arzeda, Twist Bioscience, Labcyte, and TeselaGen partnered to create an avant-garde assembly platform for DNA.

When it works, a strong partnership can endure for decades. When GlaxoSmithKline expanded its respiratory license in the 1990s to sell more-sophisticated delivery tools, it partnered with Bespak to promote Diskus, a dry-powder inhaler used to treat asthma. By 2010, the corporations have made millions of the medical devices, and as of 2018, the partnership was still in place.

Another long term triumphant collaboration is the one between Pfizer and Neurogen; it was inaugurated in 1992 with a licensing of the CNS drug compound NGD-91 1, a potential treatment for Alzheimer's disease and anxiety, and it still continues to this day with prosperous outcomes.

When initiating, choosing the right partner is key, and here at Knowledge Gate, we believe that no single aspect of a potential partnership makes a particular business the right one.

Instead, multiple factors should be considered. Has this corporation previously been involved in a similar partnership, for similar products? If so, how successful was the arrangement? How experienced is the team that is going to be at the center of the collaboration? Do they interact well and what is their company culture?

Strong collaborations rely on the mutual understanding of the skills and needs of both parties, and on what will make everything proceed smoothly from the very beginning.

The advantages of biopharma collaboration far outrun the negatives around competition. These include shared knowledge, reduced costs, access to alternative sources of funding and notable networks, better transparency, and advanced technology. 2021 is expected to be a year of growth, and it will surely bring new challenges and demands for innovation. This is why biopharma collaboration will indeed be the new imperative.