Chapter 25 - Epilogue: Why We Do This

Abstract

Full realization of the benefits from biotechnology innovation will also require organizational innovation. The challenges to managing innovation include the risk of scientific discovery, academic commitment to commercialization, Angel selection processes, clinical criteria, investor resistance to supporting experimentation, and the disconnect between clinical value, innovation and investability. These contribute to the Translation Gap, the obstacles to commercialization of biotechnology that originate within universities and hamper the development of novel therapeutics in the Valley of Death. Solutions include harnessing Angels’ buyer power to improve commercialization processes as well as cultural change within universities, e.g., an affirmation of the academic principles of objective collection and analysis of data, data sharing, peer review, and collaboration. Additional metrics need to be established and outcomes measured, for both academic technology transfer and Angel investment, to better align the interests of all stakeholders through a shared process—one that respects both financial and clinical objectives.