Table Of ContentA biotech manager’s handbook
Woodhead Publishing Series in Biomedicine: Number 9
A biotech manager’s
handbook
A practical guide
Edited by
Michael O’Neill
and
Michael M. Hopkins
Oxford Cambridge Philadelphia New Delhi
Published by Woodhead Publishing Limited, 2012
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First published in 2012 by Woodhead Publishing Limited
ISBNs: 978-1-907568-14-5 (print) and 978-1-908818-15-7 (online)
© The editors, contributors and the Publishers, 2012
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Contents
List of figures and tables xv
About the Editors and Contributors xvii
Woodhead Publishing Series in Biomedicine xxiii
Preface xxvii
Acknowledgements xxxi
1 The bioscience sector: challenges and
opportunities 1
michael o’neill and michael hopkins
1.1 Introduction 2
1.2 What do we mean by biotech? 3
1.3 From humble origins to big biotech 4
1.3.1 The information revolution 5
1.3.2 An investment boom 7
1.3.3 Restructuring of the pharmaceutical industry 7
1.4 The current state of the biotech industry 9
1.5 The world needs more medicines and will pay for them too 17
1.6 Opportunities in biotechnology 19
2 Academic innovation: so you want to be a
bio-entrepreneur? 23
michael o’neill and john scanlan
2.1 Why commercialise? 24
2.1.1 Motivation 24
2.2 Why not? 26
2.3 Define aims and examine assumptions 27
2.4 Learning from previous ventures: business and science cultures 29
2.4.1 Differences between academic and applied research 29
2.4.2 Differences between academic and commercial management 33
2.4.3 How do we bridge the divide? 34
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viii A Biotech Manager’s Handbook
2.5 Role of the university 35
2.5.1 Promoting and entrepreneurial culture within the university 36
2.5.2 Promoting links with the business community 37
2.5.3 Incubators – are they worth getting into? 38
2.6 Creating new bioscience companies from academia: how to 40
2.6.1 How to create a successful university bioscience spin-off 41
2.7 Summary 52
3 Leadership and you 55
michael o’neill and emily sun
3.1 Introduction 56
3.2 Case studies 57
3.2.1 (i) The heroic leader 57
3.2.2 (ii) Friends 58
3.2.3 (iii) Goldilocks Ltd 60
3.2.4 Learning points from the three cases 62
3.3 Values? Principles? 63
3.4 Why would someone work for you? Attracting talent 64
3.4.1 Perks are not expensive luxuries 67
3.5 Multiple roles – Leader, Manager and Coach 69
3.5.1 A few words on the art of delegating 74
3.6 Self-awareness: all the problems and solutions are
there in the mirror 76
3.7 Conclusion 77
4 Managing self, situations and stress 79
michael o’neill and emily sun
4.1 Introduction 80
4.2 Self-awareness: more about you 80
4.3 Personal styles at work 84
4.4 Management style: enough about me what about
managing people? 86
4.5 Dealing with problems 87
4.5.1 Conflict resolution 89
4.5.2 The value and cost of conflict 89
4.5.3 Causes of conflict 90
4.5.4 Dealing with conflict 92
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Contents ix
4.6 Managing stress 95
4.6.1 Why is stress a problem? 96
4.6.2 Time management 97
4.6.3 Routine: the rhythm of life 99
4.6.4 Time-managing others 101
4.7 Conclusions 102
5 It's all in the plan 105
michael o’neill
5.1 Why plan? 106
5.2 The company vision 108
5.3 The team 110
5.4 The technology 110
5.5 Market strategy: now and in the foreseeable future 114
5.5.1 Outline prevalence and incidence 114
5.5.2 What treatments are available for the illness? What other
technologies are available? 115
5.5.3 Identify future likely competition 116
5.5.4 What can be improved in current treatments 116
5.5.5 Being different is not enough. They have to be (commercially)
useful differences 117
5.6 Goals and objectives 117
5.7 Resource requirement 122
5.7.1 People 122
5.7.2 Equipment and consumables 122
5.7.3 Facilities 123
5.7.4 Help 124
5.8 Financial plan 125
5.9 Intellectual property 127
5.10 Executive summary 127
5.11 Finally 128
6 Exploring funding routes for therapeutics firms 131
michael m. hopkins
6.1 Introduction 132
6.2 A retrospective look at an evolving sector 133
6.3 External funding and the equity funding cycle 134
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