Starting up in the life sciences?

Here are three must-know tips before you launch!

Tip 1: The development of a medical product can be lengthy.

Timelines from idea to commercial sales can be 6-13 years.

You’ll need to adopt the long view for success.

Tip 2: The founder can’t do it all.

Scientific expertise only goes so far.

Be prepared to add team members with development, clinical, regulatory, and commercial expertise.

Tip 3: The vision must adapt to changing circumstances.

The regulatory and business environment is constantly changing.

Plan for regular reviews and ready yourself to set aside cherished notions when the data shows they are false.

Starting up in the life sciences is challenging but incredibly rewarding.

Real impact is achievable when you embark with your eyes open.

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