Research and development of novel medicines for human therapy
commonly takes over a decade before significant revenues from sales
are forthcoming. How can biotechnology companies be founded and
grow successfully in an industry with such extended innovation
processes? The book investigates this problem and distinguishes
three growth phases: From incorporation and start-up through
collaborative R&D with large pharmaceutical firms to value
creation from R&D pipelines to Public Offerings and product
marketing. In this book a dynamic simulation model for testing
different decision-making strategies is developed. For each phase
the author identifies decision rules that provide for successful
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