Biotechnology is an expanding industry that assists in solving problems across a variety of fields from medicine to agriculture. It focuses on the use of techniques of genetic engineering to improve existing organisms, or to create new ones. Its most obvious applications are pharmaceuticals, vaccines and molecular diagnostic tests, however, it also permits alternative meat products, such as isolating human cells to grow tissue and crop genes that are edited. Making it to market with new drugs can be time-consuming and expensive, and most drug development projects fail. This makes the biotech sector an investment that is risky for investors and the media focuses on biotech’s high failure rate and long developmental lead times.

One of the most important factors for any biotech investor is the company’s pipeline. To survive, a biotech company must develop a robust clinical trial program that will meet its short-term financial needs. Clinical trials can be costly and take years to be completed. A successful biotech company must have at least some drugs in Phase 3 or beyond and several drugs in Phase 2 or later.

As companies at the R&D stage prepare for product launches, their core goals and values will change to provide the best value to patients. This will lead to new choices and tradeoffs that require careful consideration of investment and organizational structure capabilities, as well as cultural aspects. Successful biotechs are able to communicate and transfer their goals throughout their organization and maintain the connection to their R&D driven research. This will ensure the right priorities are guiding commercial success while fostering innovation.

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