Many small to medium biotech and medtech companies, unlike the major pharmaceutical corporates, do not have the luxury of a sizable business development department that can execute professional partnering processes as needed. Instead the activity either gets taken on by existing personnel or they engage a professional service provider. There is a belief that “anyone can do a deal” but not everyone has the right skills, tools and experience to do the best deal. Many of these small to medium sized companies are VC funded and rightly hire the best scientists to develop their prized asset to the point at which it can be out-licensed, but then undermine the great science by not engaging professional dealmakers (either as internal hires or external service providers). If you don’t have the resources in-house, you would be wise to consider engaging advisors to help you. So what are the key considerations the senior team in a company should be contemplating when approaching the point of out-licensing their asset?
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