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A Cause of Failure for Many Early-Stage Bioscience Companies: How to Avoid It

ABS typically works with most of the world’s major pharmaceutical and biotechnology companies. As a small business, we know how difficult growth can be. Far too many companies fail, especially in the early stages.  

Every year scientists make the leap from the bench to form and grow a new company. This leap is often based on an innovative discovery. Sometimes the venture begins with a single passionate researcher or a small group of scientists. Sometimes their idea receives enough recognition that funding, and seasoned investors join their team. It is often a difficult and challenging road to success. 

In many cases, the road to success is made unnecessarily more difficult by a seemingly simple choice. It is natural for scientific founders, who have worked at lab benches for many years, to immediately begin setting up a series of lab benches and an array of freezers and other equipment to begin their new venture. For proprietary and very novel work, this makes perfect sense. This type of work relies upon unique skills and knowledge. This is where focus is critical. 

The mistake occurs when companies unintentionally let their focus drift from their core value proposition to building unnecessary resource draining infrastructure. The tendency is to replicate familiar laboratory conditions without ever really analyzing if it is warranted. In most cases, it is not. When your funds, staffing, and space are limited, there is a better alternative. Even if funding is abundant, which is often not the case, there is a better choice. 

This is where ABS can make a real difference. Since 1990, we have provided cell culture services, human biospecimens, and related services such as sample storage, membrane preparations, DNA and RNA extractions, and much more to major pharmaceutical and growing life science companies. Of course, you can build all this infrastructure in-house, hire and train personnel, and expend substantial resources to do the work. The question is why do so when your mission is discovery, not time-consuming resource intensive routine laboratory work? 

Investment should be focused on innovative research. Utilizing others who have the expertise and experience to do routine labor-intensive work enables you to focus on your true mission. It has the added advantage that you pay for services only when you want them. Equally important, you do not pay to sustain infrastructure and bioreagent production as projects and needs change. Enhancing your capacity to do what you do best has always been our mission. ABS is an extension of your laboratories. Please contact us to learn more. 

To give back to the life science community, ABS has founded the ABS BioAccelerator where we will lease laboratory space to a select number of early-stage and growing companies. The ABS BioAccelerator is far more than a place to do research. We will share what we have learned with these companies and provide a range of business and laboratory services such as cell culture services, human biospecimen, and sample storage. This will enable companies that wish to grow to focus on their mission. The next post will describe the offerings and services in more detail.

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