STOCKHOLM, Feb. 5, 2020 /PRNewswire/ -- TFS continues to recognize the importance of partnerships in the clinical development and brings together biotech industry expert, investors and clinical research professionals to discuss the changing landscape of biopharma.
The journey from molecule to clinic, through the entire clinical development including securing funds and the selection of a CRO partner were the focus areas of the seminar, which took place at the BioMMunich biotech cluster. This well-recognized science park connects partners from science, industry, medicine and finance.
"This series of event reflects TFS' commitment to building partnerships based on trust and shared understanding of the environment we operate in. Our mission, as a clinical research organization is to combine the scientific knowledge with the operational excellence and to support our customers in their journey towards success," says Bassem Saleh, TFS Chief Executive Officer.
The biopharmaceutical industry has been steadily growing, offering great opportunities for small and mid-size biotechs who are, however, facing complexities of the clinical development, a steep increase in financial needs and the lack of internal expertise or infrastructure. Securing an investor for a biotech project requires proactivity, persistency and the ability to adjust to the changing reality. Lack of clear trends with regards to funds flow, the number of investment or the preferred indications is adding to the complexity. McKinsey analysis of 2019 trends describes European biotech markets as very popular among investors. It follows to show that fund sizes have doubled over the last decade both for early and late-stage focused funds and increasingly more private funds are available. Biotech companies need to focus on the criteria used by different investors which frequently require an innovative product, positioned in an attractive market preferably with a proof of concept, strong preclinical date and even first consumers or revenue. Funding hurdles can be addresses with alternatives such as government support programs, venture vs. seed investments and banking programs for science.
Seminar speakers reinforced the need of an early engagement between the CRO and customers to ensure successful product development and delivery. There are many paths to success but ultimately it comes down to understanding the process, the ability to identify the unmet medical needs and to evaluate the product differentiating factors. Building a partnership with shared ownership and well-managed roles and responsibilities increases the likelihood of success. The delivery of the project largely depends on an effective collaboration with the critical stakeholders including investors, KOLs, patients and the CROs. TFS values collaboration and is committed to building such lasting partnership to provide customers with resources solutions and expertise throughout the entire journey.
Secrets to Biotech Success seminar series continues across Europe to make the next stop in Paris this spring.
For further information please contact:
Sylwia Domagalska
Director Corporate Communications and Enterprise Digital
Email: sylwia.domagalska@tfscro.com
Phone: +48-787-913-074
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https://news.cision.com/tfs/r/secrets-to-biotech-success--a-tfs-seminar-series--goes-to-germany,c3027699
The following files are available for download:
https://mb.cision.com/Main/18752/3027699/1188295.pdf | Release |
https://news.cision.com/tfs/i/bassem-saleh-ceo,c2743817 | Bassem Saleh CEO |
