Technology and financing strategies in the development of life science companies

Life science–based technical innovations irrevocably alter the method by which care is delivered and by which standards of quality are measured. Minimally invasive catheter and surgical techniques, the explosion in molecular medicine, personalized approaches to chemotherapeutic monitoring and dosing, and a deep understanding of the cell signaling pathways that influence inflammation, healing, oncogenesis, metabolic syndrome, and so on are but a few of the examples of areas in which care has been significantly advanced by progressive science and the commercial and technologic reduction to practice necessary for innovation to reach the bedside. Many individual physicians and scientists may contribute prominently to this progress through the generation of the primary idea or through a more direct contribution on an entrepreneurial level assuming a role of advisor or central part of the management team. This necessitates interacting with sources of funding, for example, the venture capital community, the strategic investment community (pharmaceutical and device companies), and the public markets. Planning the growth of an idea from seed stage to commercialization is greatly facilitated by knowledge of these market dynamics and, although the physician-scientist is not often in a lead business role, the marriage of technology and commercial insights offers the best chance for ultimate success in helping patients and creating value.