The question of whether to partner with another company is critical to the long-term development of a biotech. Nonetheless, it can be easy for a small company to underestimate the resources it needs to put into a successful collaboration. Here, we’ll go over some expert advice on what to do and what not to do to set up a partnership, keep it up and running and make it successful.
Partnering with big pharma or another biotech can bring many benefits to a small biotech company. Beyond a flow of cash, the right partners can increase the chances of success of a development program and reduce the time it takes.
“I think partnerships bring a lot of good things, the cash is really important, the validation, learning from big pharma – they have got a lot to teach biotech,” noted Edwin Moses, previous CEO of Ablynx.
I asked experts in the biotech industry to give us their advice for biotechs seeking to enter and maintain successful partnerships.