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Business Development Services:

Strategic Planning

 
Partners LLC: Biomedical Consulting

 

Ideas and intellectual property protection are prime assets of a technology-driven enterprise. However, a sound initial strategy and business plan are also essential to ensure the success of your company. Proper planning will help you successfully raise initial capital, make the most efficient use of limited resources and minimize the time to realizing first commercial revenues. Important elements of this plan, which LSP will help you formulate, are:

  • Define corporate mission and business objectives: Your company is more than the products or services you develop. How do you want your firm to be known by your customers and in the industry as a whole? The answer will drive product development and commercialization efforts.

  • Identify corporate business model: Should your company develop manufacturing and true commercial capabilities, or specialize in early development? LSP will help you to use your core competencies to determine how best to structure your business.

  • Review and rationalize product portfolio: Are the number, therapeutic range and developmental state of products appropriate to the available human, technical and financial capital, and desired time to commercial revenue? Is the product range suited to the corporate mission and company identity? Should a particular emerging technology be partnered to provide an early revenue stream and sharpen the focus of the remaining product line? Should the company in-license complementary technology to synergize with and enhance prospects for success of the lead product(s)? LSP can help your company focus to determine the best balance of in-house development and of in- and out-licensing of technologies to best suit your business model and resources.

  • Review companyís major markets and competitive environment: Do products in development have the potential to satisfy a truly unmet or underserved therapeutic or diagnostic need? Can your product or service be adequately differentiated to provide a competitive advantage over products commercially available or in development? Is the prospect of commercial success equal to the potential for technical and clinical success? LSP can provide market analyses based on focused searches of business and technical literature and competitive intelligence to provide the answers to these questions.

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  • Identify core competencies: Which developmental and commercial functions are best performed in-house, and which are better outsourced? Should preclinical and clinical testing be performed in-house, by a contract organization, or by the licensee who will ultimately commercialize the product? These issues are relevant not only to the best use of available resources, but also to the definition of corporate mission and identity. Appropriate identification and selection of core competencies to develop will also enhance the productsí and firmís prospects for success.

LSPís principals have more than a decade each of experience in the many aspects of strategic planning. LSP thus has the qualifications and resources to help you assess each of these factors and provide near-term and long-term growth and development recommendations for your company.

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