Chemistry Entrepreneurship

291 Pages·2021·5.351 MB·English

by  Javier García-Martínez, Kunhao Li

ChemistryEntrepreneurship

Chemistry Entrepreneurship
Edited by Javier García-Martínez and Kunhao Li
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v
Contents
Foreword xv
Preface xvii
1 WeNeedAnEntrepreneurialCultureinChemistry:DoYou
HaveWhatItTakestobeaChemistryEntrepreneur? 1
FrankL.Jaksch
1.1 Introduction:DisruptiveInnovationinChemistryisinHighDemand 1
1.2 ExamplesofInnovationinChemistryCatchingtheEyeofthe
MainstreamMarket 2
1.2.1 FoodandNutrition 2
1.2.1.1 Just(formerlyHamptonCreek) 2
1.2.1.2 ImpossibleFoods 2
1.2.1.3 PerfectDay 2
1.2.1.4 EndlessWest(formerlyAvaWinery) 3
1.2.2 Sustainable/RenewableChemistry 3
1.2.2.1 GinkgoBioworks 3
1.2.2.2 ModernMeadow 3
1.2.2.3 Genomatica 3
1.2.2.4 Zymergen 3
1.2.3 Biotech/Pharma 3
1.2.3.1 ModernaTherapeutics 4
1.2.3.2 UnityBiotechnology 4
1.2.3.3 CRISPRTherapeutics,IntelliaTherapeutics,andEditasMedicine 4
1.2.4 Diagnostics 4
1.2.4.1 23andme 5
1.2.4.2 GrailDiagnostics 5
1.2.4.3 Viome 5
1.2.5 CautionaryTales 5
1.2.5.1 Theranos 5
1.2.5.2 Solazyme(TerraVia) 6
1.3 UniqueChallengesforChemistryEntrepreneurs 6
1.3.1 TheMostImportantTraitofEveryChemicalEntrepreneur 7
vi Contents
1.3.2 ChemistryAccelerators,Incubators,andAcademicSpin-offs 9
1.3.3 DoSomething,doAnything,evenifitisWrong 10
1.3.3.1 Penicillin 10
1.3.3.2 Post-It 11
1.3.3.3 Saccharin 11
1.3.3.4 Teflon 11
1.3.3.5 Viagra 12
1.3.4 YouhaveyourDiscovery;nowyouneedaPatent 13
1.3.4.1 ProvisionalPatent 13
1.3.4.2 PatentApplication 13
1.3.4.3 PatentProsecution 13
1.3.4.4 StructureofthePatentClaims 13
1.3.4.5 PatentSearchandPriorArt 13
1.3.4.6 PublishingBeforePatenting 14
1.3.4.7 PCTInternationalPatent 14
1.3.4.8 ProtectablePatentValue 14
1.3.4.9 SelectingtheWrongLawyerfortheJob 14
1.4 InventionisOnlytheBeginningofCreatingaCompany 15
1.4.1 KnowyourRole:FoundingCEOvs.Foundervs.Inventor 16
1.4.2 RaisingMoney:AcquiringtheRightMoneyattheRightTime 17
1.4.2.1 Self-funding 18
1.4.2.2 FriendsandFamily 18
1.4.2.3 AngelInvestors 18
1.4.2.4 AcceleratorsandIncubators 18
1.4.2.5 Debt 18
1.4.2.6 StrategicInvestment 19
1.4.2.7 PrivateEquity 19
1.4.2.8 VentureCapital 19
1.4.2.9 InvestmentBanks 20
1.4.3 CanyougettheideaforCommercialization? 21
1.4.4 WhenyouareReadytoCommercialize,whichpathdoyoutake? 22
1.4.4.1 LicensingDeal 22
1.4.4.2 Business-to-Business(B2B) 23
1.4.4.3 Business-to-Consumer(B2C) 23
1.5 DoyouhavetheTraitsofanEntrepreneur? 24
1.6 Summary:DoYouHaveWhatItTakes? 28
RecommendedReadingsandReferences 30
AuthorBiography 30
2 TakingIdeasOutoftheLab:WhyandWhentoStart
aCompanyintheBiomedicalField 33
MiguelJimenez,JasonFuller,PaulinaHill,andRobertLanger
2.1 Introduction 33
2.2 CompanyCaseStudies:Interviewswiththe FoundingScientists 34
2.2.1 AdvancedInhalationResearch:InterviewwithDavidEdwards 34
Contents vii
2.2.1.1 CoreTechnology 34
2.2.1.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 34
2.2.1.3 WhywasitImportanttoStartAdvancedInhalationResearch? 35
2.2.1.4 WhenwastheTechnologyReadytoStartAdvancedInhalation
Research? 35
2.2.1.5 WhatLessonsDidYouLearnThroughThisProcess? 35
2.2.1.6 CurrentStatus 35
2.2.2 KalaPharmaceuticals:InterviewwithJustinHanes 36
2.2.2.1 CoreTechnology 36
2.2.2.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 36
2.2.2.3 WhywasitImportanttoStartKalaPharmaceuticals? 36
2.2.2.4 WhenwastheTechnologyReadytoStartKalaPharmaceuticals? 36
2.2.2.5 WhatLessonsDidYouLearnThroughThisProcess? 37
2.2.2.6 CurrentStatus 37
2.2.3 Moderna:InterviewwithDerrickRossi 37
2.2.3.1 CoreTechnology 37
2.2.3.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 37
2.2.3.3 WhywasitImportanttoStartModerna? 38
2.2.3.4 WhenwastheTechnologyReadytoStartModerna? 38
2.2.3.5 WhatLessonsDidYouLearnThroughThisProcess? 38
2.2.3.6 CurrentStatus 38
2.2.4 SigilonTherapeutics:InterviewwithArturoVegas 38
2.2.4.1 CoreTechnology 39
2.2.4.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 39
2.2.4.3 WhywasitImportanttoStartSigilon? 39
2.2.4.4 WhenwastheTechnologyReadytoStartSigilon? 39
2.2.4.5 WhatLessonsDidYouLearnThroughThisProcess? 40
2.2.4.6 CurrentStatus 40
2.2.5 SuonoBio:InterviewwithCarlSchoellhammer 40
2.2.5.1 CoreTechnology 40
2.2.5.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 40
2.2.5.3 WhywasitImportanttoStartSuonoBio? 40
2.2.5.4 WhenwastheTechnologyReadytoStartSuonoBio? 41
2.2.5.5 WhatLessonsDidYouLearnThroughThisProcess? 41
2.2.5.6 CurrentStatus 41
2.2.6 Vivtex:InterviewwithThomasvonErlach 41
2.2.6.1 CoreTechnology 41
2.2.6.2 WhatwastheKeyProblemandInitialIdeathatSparkedtheWork? 41
2.2.6.3 WhywasitImportanttoStartVivtex? 42
2.2.6.4 WhenwastheTechnologyReadytoVivtex? 42
2.2.6.5 WhatLessonsDidYouLearnThroughThisProcess? 42
2.2.6.6 CurrentStatus 42
2.3 WhyStartaCompany? 43
2.3.1 ToHavetheLargestImpactonPatients 43
2.3.2 ToIntroduceaNewPlatformTechnology 44
viii Contents
2.3.3 IsLicensinganAlternative? 45
2.3.3.1 LicensingtoExistingCompanies 46
2.3.3.2 Corporate-sponsoredAcademicResearch 46
2.4 WhentoStartaCompany? 47
2.4.1 IsThereEnoughInVivoValidation? 47
2.4.2 WasaPatentFiled? 48
2.4.3 WasaPaperPublished? 49
2.5 TheSecretIngredient:WhoandWhat? 51
2.5.1 WhoWillStarttheCompany? 51
2.5.1.1 SeasonedMentorsasCo-founders 52
2.5.1.2 FindingaGreatCEO 52
2.5.2 WhatWilltheCompanyActuallySell? 53
2.6 Summary:LessonsLearned 54
2.6.1 Lesson1:WorkonaHigh-impact,PlatformTechnology 54
2.6.2 Lesson2:PatentEarlyandBroadly 54
2.6.3 Lesson3:KeeptheTechintheLabasLongasPossible 55
2.6.4 Lesson4:MusthaveinvivoEfficacyandSafety 55
2.6.5 Lesson5:PublishinTopScientificJournals 55
2.6.6 Lesson6:PartnerwithSeasonedEntrepreneurs 55
FurtherReading 57
AuthorBiographies 58
3 InPursuitofNewProductOpportunities:Transferring
TechnologyfromLabtoMarket 61
AlexDuchak
3.1 Introduction 61
3.1.1 EntrepreneurshipandTechnologyTransfer 61
3.1.2 PursuingCommercialProduct/ServiceOpportunitiesviaTechnology
Transfer 63
3.1.3 AModelforEntrepreneurshipviaTechnologyTransfer 65
3.1.4 ExtractingTechnologiesfromResearchInstitutions 68
3.2 TechnologyDiscoveryandDevelopment 69
3.2.1 OriginsofTechnology 69
3.2.2 TechnologyTransferCommunicationModels 70
3.2.3 TransitioningTechnologiesintoProducts 70
3.2.4 TimingTechnologywithIndustryAcceptance 73
3.3 CustomerDiscoveryandDevelopment 76
3.3.1 OriginsofMarketDemandandUnmetNeeds 76
3.3.2 IdentifyingaTechnology’sUses 77
3.3.3 TheValueChainforTargetApplications 77
3.3.4 IdentifyingStakeholdersintheValueChain 78
3.3.5 DesigningProductExperiments 82
3.3.6 CustomerDiscoveryandValidationModel 83
3.3.6.1 CustomerRoutinesAnalysis 85