The Business of Bioscience What goes into making a Biotechnology
The Business of Bioscience: What goes into making a Biotechnology Product captivatingly describes the unique and challenging facets within the exciting field of biotechnology business and medical product innovation. Biotechnology is the melding of busines
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Craig D. Shimasaki, PhD, MBA
The Business of Bioscience What Goes into Making a Biotechnology Product
Craig D. Shimasaki BioSource Consulting InterGenetics Incorporated 14200 S. MacArthur Blvd. Edmond, OK 73025 USA
ISBN 978-1-4419-0063-0 e-ISBN 978-1-4419-0064-7 DOI 10.1007/978-1-4419-0064-7 Springer Dordrecht Heidelberg London New York Library of Congress Control Number: 2009927502 © 2009 American Association of Pharmaceutical Scientists All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
To Verna, my loving wife and friend of 31 years, who has always stood by me with support and encouragement. To Alyssa and Lori, my heartwarming daughters, who by their very presence always inspired me to be a better father. To my parents, Jack and Betty, who allowed me to be everything I could ever hope to be, and always supported me unconditionally. To God, who constantly inspires me with insight and vision, and makes all things possible.
Preface
My journey into this fascinating field of biotechnology started about 26 years ago at a small biotechnology company in South San Francisco called Genentech. I was very fortunate to work for the company that begat the biotech industry during its formative years. This experience established a solid foundation from which I could grow in both the science and business of biotechnology. After my fourth year of working on Oyster Point Boulevard, a close friend and colleague left Genentech to join a start-up biotechnology company. Later, he approached me to leave and join him in of all places – Oklahoma. He persisted for at least a year before I seriously considered his proposal. After listening to their plans, the opportunity suddenly became more and more intriguing. Finally, I took the plunge and joined this entrepreneurial team in cofounding and growing a start-up biotechnology company. Making that fateful decision to leave the security of a larger company was extremely difficult, but it turned out to be the beginning of an entrepreneurial career that forever changed how I viewed the biotechnology industry. Since that time, I have been fortunate to have cofounded two other biotechnology companies and even participated in taking one of them public. During my career in these start-ups, I held a variety of positions, from di
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