Scientific discovery is the fuel that drives the Life Sciences sector, including Biotechnology, Pharmaceutical, Diagnostics and Medical Device companies. Life Science companies must meet enormous challenges as they commercialize new discoveries.
Overcoming daunting technical challenges, meeting complex regulatory requirements, and managing the multidisciplinary array of skills required to advance a product through development creates significant business complexity. While these challenges exist for companies of all sizes, emerging companies face a particularly grueling set of challenges. Emerging companies, while lacking the experience and resources of their larger counterparts, must also establish the core business processes and systems they will need to manage the rapid growth arising from the commercialization of their initial products.
The savvy business and financial managers in today’s emerging Life Science companies increasingly recognize the need to establish an effective business infrastructure early in the life cycle of the company. This paper takes you through a series of best practices, including two case studies, that emerging life science companies should follow.
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