For any startup, and especially for biotechnology startups, success depends on three main factors: science, financing, and people. One of the key factors investors look for is having a management team that can raise money and make good use of it to advance the science of the company.
According to Sinclair Dunlop, Managing Partner at Epidarex Capital, “a critical success factor in any life science investment is the management team. The sourcing, development, and retention of experienced talent has a direct impact on technology development and investor returns. A significant challenge, particularly in under-ventured markets, is a shortage of serial CEOs with a track record of fundraising at scale.”
Gathering the right team
Venture capital firms searching for investment opportunities pay a lot of attention to the management team at the head of a company. Specifically, for an early-stage biotech startup, the management team needs to be able to transition from a scientific-oriented into a patient and business-oriented one. As a result, biotechnology companies must focus on translating research results into patient benefits and revenue potential.