Much has changed in recent decades in the way the business of biotechnology is conducted. But finding actionable trends can help startups in the life sciences hone their business plans for success.
José Manuel (Manny) Otero, PhD, Chief Technical Officer at Lexeo Therapeutics — a Cure Collaboration Residency company focused on scaling up gene therapy — shared with Cure three trends influencing the biotech industry.
His insights, from talent acquisition challenges to data-driven decision-making and the strategic importance of partnerships over infrastructure, offer a roadmap for early-stage biotechs to navigate this rapidly evolving field.
Hiring is more challenging — for both job seekers and employers
"When capital and funding were more readily available and free flowing, there was hypercompetition for talent. You saw people jumping from one company to another and a lot of elevation of job titles," said Otero. "Now there are many more applicants for fewer open roles. It means you've got to get really good at evaluating talent and finding the right fit for your company. That continues to be a challenge."
Clinical data continues to be king
"We're still very much in a world where clinical data trumps everything else. The ability for companies to come up with plans and hypotheses that accelerate a product into the clinic as fast as possible to be evaluated in patients is critical," Otero contended. "I think that's more important than ever."
Building partnerships can be more important than building buildings
"There was a notion that small- and medium-sized biotech companies should build GMP manufacturing facilities ahead of time so they would be ready to scale up when a drug was approved. I never bought into that thinking,” explained Otero.
“Too many people focus on building something, but not enough people concentrate on operating something over the long term. It's easy to build a facility, but it's a lot harder to sustainably and successfully operate it," he added.
"Don't build a lot of fixed infrastructure or capability until you have total confidence that you have multiple products that you can put into that fixed infrastructure and capability. You're far better off partnering with external manufacturing, distribution and development partners," he continued. "Becoming an expert in forging great relationships is much more valuable than being an expert in building a building right now. In my view, we don't do enough of that in our industry. There's a trend of not talking enough about building partnerships."