Comprehensive Biomedical Technology Commercialization Planning
Company outsiders are always tough graders. Your early interaction with them could include an elevator pitch and a PowerPoint® presentation. This is where they learn about your vision, science, team experience, achievements, and commercialization plans. Ultimately, your process should clearly show that you know what you are doing. However, bad plans, missed milestones, and delays might put off potential collaborators.
Biomedical Commercialization LLC has expertise in biomedical technology commercialization solutions. We can help you with your operations and strategic planning to ensure that your goals support clear financial plans. Your strategy, launch plans, and early implementation should address whether you should proceed alone, select partners, or use a combination strategy. The marketing mix will also be critical, and an outsider’s perspective is often helpful.
Some Areas BCL Can Help With:
- Multiplexed Tests
- Companion Diagnostics
- Medical Devices
- In Vitro Diagnostics
- Instrument Platforms
- Laboratory-Developed Tests
- Research Assay/Tools
Sales and Marketing
At BCL, we generally recommend an initial “back-of-the-envelope” approach for sales and marketing prior to a more in-depth strategy. This can help you avoid unnecessary complexity and promote internal consensus.
Objectives must be clear and interrelate with the other operational functions. Production, laboratory organization, marketing, sales, financial control, technical support, and quality assurance might benefit from an outside perspective. Additionally, leadership skills can be assessed, while coaching can help deliver measurable improvement.
The Planning Process
Everything can change in terms of priority and cost, depending on your stage of company development. Good decisions must be made about organizational design, incentives, reimbursement, and intellectual property. The environment must also be closely watched. To ensure a solid strategy, you can rely on a learning strategic planning process. As always, an outside perspective helps.
Assessments: Leadership and Skills
There are different requirements for leadership and senior management skills at every stage of a company’s life cycle. From invention, proof of concept, and grants to mergers, acquisitions, and more, effective leaders must know how they are perceived by different audiences and accept feedback as the first step toward possible improvement or success acceleration.
Plans to Access Capital: Always a Challenge
It is important to retain a securities lawyer because this area is complex. You must first determine which types of potential funders should be approached, how to identify your needs, and how to recognize if and when those needs have evolved.
Politics, legislation, and macro trends can sometimes change the appetite for investment, so plans must be flexible. Successful commercialization planning by overcoming technical risks and meeting market needs is the key to establishing company viability.
Get in Touch
Please don’t hesitate to speak with BCL over the phone, on-site, or via Zoom to get an experienced perspective. Our services are ideal for all biomedical firms, including biotechs, research organizations, and device companies. We can easily meet you at your facility, in Washington DC, or at Dulles, Reagan, or BWI airports.
Contact us for more information about any of our services.
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