BioTransplant: Turned on to Tolerance
This article was originally published in Start Up
Thousands die each year of end-stage organ failure. Transplantation is the preferred therapy, but there is a chronic shortage of human organs and organ rejection remains a problem. Bringing xenotransplantation to market has become a big company affair, but BioTransplant is a biotech still looking to win a piece of the market through an unusual partnership and unique technology.
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Leading a Biotech Through Crisis
Given the cyclical nature of the biotech industry, companies--both public and private--are forced to weather financing storms every few years. During lean times, one strategy is to cut operations to create the basis for a financing event and stave off the inevitable cash cliff. But a company focusing all its efforts on one, or at most a few, projects has very little to fall back on should its lead opportunity fail. And the equity markets may not come back in time. BioTransplant's CEO-Donald Hawthorne, brought in to save the company, understood from the beginning that companies with just a few months of cash left tend to fail. His challenge: to avoid failure, while at the same time maximizing the chance that in the event of bankruptcy, at least some of the assets of the company could create additional value.
The People Business: The Renaissance of Population Genetics
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