Newsletter Editorial, June 2020
The first thing that comes to mind when we talk about innovation is often disruptive technologies that we meet in our daily lives, such as Uber and AirBnB. However, innovation is more than that and in life sciences, we see both the novel and disruptive technologies, as well as repositioning of existing products for new applications.
Either way or approach, innovation is not a linear process and it requires a constant focus on de-risking by anticipating and mitigating challenges. Especially in life sciences due to the high costs of bringing new products to the market. Novel therapeutics need to undergo extensive clinical testing before approval, and the same holds for new health tech solutions. For bio-industrials it is costly to establish new production facilities and it is challenging to enter an area that is dominated by completely depreciated, but well-established chemical plants.
That is why innovative ideas in life science must always be deeply rooted in scientific discoveries. When the science is solid it is a matter of designing the right path forward and it will allow the company to pivot from the original business idea which is often essential for survival.
We are lucky to have such strong research institutions in Denmark and it is important for us to build on the collaboration, we have started. The BII Faculty program is a great example of how we in unity can foster innovations and de-risk from the earliest stages. Last week, we announced yet another project in this program from the Technical University of Denmark.
This is merely the beginning and going forward, we will work to establish partnerships and close ties to research institutions around the world. This is where life science innovation begins.