The process of investigating, designing, and developing new products, technologies, or processes to advance scientific knowledge and bring innovations to market
A set of guidelines and procedures aimed at ensuring the consistency, reliability, and integrity of scientific data generated during laboratory experimentation
Organisms whose genetic material has been altered using genetic engineering techniques to confer desired traits such as increased resistance to pests or improved nutritional content
Funding provided by venture capital firms to start-ups and businesses with high growth potential. Venture capital often plays a crucial role in financing early-stage R&D
The process of transferring scientific findings and technologies from one organisation, often a research institution, to another, typically for further development and commercialization
A biological product that is highly similar to and has no clinically meaningful differences from an existing FDA-approved reference product. Biosimilars aim to provide more affordable alternatives to biologic drugs (like generics for pharmaceutical drugs)
RegulatoryAffairs involve the management and adherence to laws, regulations, and guidelines governing the development, manufacturing, and marketing of biopharmaceutical ("compliance")
1. Investment is funds spent now in the hope of a future benefit
2. Money spent on R & D, with no guarantee of a ROI
3. Investment fails to yield sufficient IP or technology to provide an ROI: After several failures, the company will no longer have enough money (liquidity/capital) to invest in new projects > company goes bust
1. Cohen (1973) demonstrated restriction enzymes used as "scissors" to cut DNA fragments from one source and ligated into a similarly cut "recombinant" plasmid vector
2. Venture Capitalist (VC) Robert Swanson contacted Boyer to discuss if the technology was ready to commercialise
3. Cohen returned to academia
4. Over beers at Churchills Bar in San Francisco, Robert and Herbert both agreed to terms on a coaster to invest together in a partnership. This agreement would eventually become Genetic Engineering Technologies – Genentech. The world's first biotechnology company
Separate pathways between universities and businesses but been a drive from government for the 2 pathways to come together hopefully to improve innovation potential
Encouraged the utilisation of inventions produced under US Government funding (e.g., university research) by giving clear IP rights to universities and control of their inventions
Using their intellectual property (IP) to create technologies that can be sold for a profit
Licensing their intellectual property (IP) to other companies under a specific licensing agreement, allowing other companies to develop technologies using the IP