A recurring problem at Smallco emerging biotech companies is that the Executives lack commercialization expertise and they don’t have the foresight to seek it early and /or don’t place the right value on it. In essence, they don’t know what they don’t know. Frankly, many don’t care – they believe “cool science” will sell it in the marketplace. That’s a mistake.
A modest but essential number of commercial actions need to be taken in Phase I, more so in Phase II and full-blown commercialization should be early in Phase III, (stage gated). Note, with gene therapy companies today, moving from IND to pivotal trial readout in five years, the need for early commercialization has accelerated.
There are highly effective and cost-efficient alternatives to hiring full time Commercial and Medial Affairs leadership too early. Interim executives can identify, prioritize and execute Phase-specific commercial activities critical for launch.
Investing in this knowledge early on in the process helps ensure a smooth and organized commercialization process.
For more about those alternatives, see our website at www.bridge1.net.