Is the Open Innovation Model an answer for Biotechnology?
Dr. Raphael Hofstein, president and CEO of MaRS Innovation, delivered a guest lecture on February 1, 2013 at the Revitalizing Medical BioTechnology Commercialization symposium, hosted by Stanford University‘s NIH Graduate Training Program in Biotechnology.
The one-day event brought academic, venture capital and industry thought leaders together to reflect on the challenges facing technology transfer processes across the biotech industry.
Here’s the event synopsis: Life Science VCs are closing their doors, bio-energy stocks have plummeted, and biotech investments have had high uncertainty, low liquidity and low returns. Yet, we now have unprecedented biological knowledge and R&D capabilities. This symposium offered new insights and approaches designed to accelerate development and increase success rates and investment returns for biopharmaceutical, diagnostic and medical device opportunities.
Our Question: Does the Open Innovation Model we posted about hold serious potential for our sector.
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