Biotechnology is on the forefront of a technological explosion. Indeed, this has already been
dubbed the “Century of Biology.” In little more than a dozen years, the biotechnology
industry has grown from a handful of companies to a $40 billion worldwide industry that
increasingly has an impact on a broad spectrum of fields including, health care, agriculture
and energy production. Waves of new products, including those that help save lives, grow
disease resistant foods and produce environmentally friendly fuels, are coming to market.
The expansion of the industry is being driven by three global demographic trends: a growing
population, longer life expectancies and an increasing percentage of elderly people in the
total population. Developing and manufacturing biotechnology medicines and products,
however, is a complex and costly process. Research and development, for example, now cost
biotech companies up to $100,000 per employee annually.
To capitalize on the extraordinary opportunities presented by the industry, biotechnology
companies must be on the cutting edge of modern financing. Success increasingly depends
on knowledge of the specific issues that affect the industry and creative strategies that
develop from that understanding. Whether in early stages of growth or more mature phases
of development, companies are eager to attract grants, investment and corporate partners.
This Guide is a most welcome addition to the biotechnology entrepreneur’s toolkit. It
provides the fundamentals of financing for this evolving field in a concise manner without
glossing over the details that provide the reader with a greater understanding of the
complexity of the issues. In that sense, it is truly a guide, and not merely an introduction, to
this exciting new field