You may have seen the popular show “Shark Tank” on ABC, where entrepreneurs pitch products and inventions to seasoned investors, who then have the chance to offer funding and advice.
Emerging healthcare companies have their own version of “Shark Tank,” one with even higher stakes. SmithSolve saw it in action at the 2014 BioNJ International Biopartnering Conference, where 20 companies presented research on investigational medicines to an audience of 200+ potential partners and investors.
Early-stage companies are driving innovation in the pharmaceutical sector. The stakes are also high for the business development teams at biopharma companies, venture capitalists and angel investors who evaluate and support their work. On average, it now costs more than $1.2 billion to develop a drug. A lack of funding can hamper or shut down the development of viable treatments for patients across a variety of diseases.
When it comes to impressing the sharks, reality and television have something in common: success requires clear communication. Educating audiences on compelling science and unmet medical needs is more important than ever. Communication can help companies show their value, earn the confidence of investors and partners, and serve patients. See how.