The end of one thing is just the beginning of another
‘Begin with the end in mind’ is commonly known as a critical factor for success. And so is realizing that the end of one party’s ownership of an innovation is often the beginning of the trajectory for the next party. This is proven to be an essential dynamic of most successful innovations that have become available in the healthcare system. In this series of articles, we will discuss how exit strategies come into play at the birth of innovative companies, as well as at their end, or when the time has come to hand over control of a certain portfolio asset to the next player in the value chain.
Why you should think about your exit at the start
It may feel counterintuitive to think of an exit while developing an innovation, especially when you are just starting, but it is critical step in the lifetime of almost any Life Science product. To deliver on your company’s mission to make a big impact on the treatment and quality of life of patients around the world, your exit strategy will be a crucial factor. And even when you are not planning an exit, it is essential to be aware of the various options that exits provide. This enables you to steer swiftly when you find yourself in unexpected situations that will occur over the 10-year+ development cycle of the product.
In this series of short articles, we discuss the different exit strategies for Life Science innovations, what control you have, and how the strategies relate to the final success of your product. Our aim is to share key insights and ensure that you can make an informed choice to push your innovation to market.
Over the coming months, we will publish:
- Exit strategies in Life Sciences and why they are important
- How an exit can increase your chances of making an impact
- The impact of different exits on the product success (opportunities/threats) [coming soon]
- Factors you can control to be (exit) deal ready [coming soon]
- Typical exit-deal payment terms [coming soon]
This series about Exit Strategies for Life Science innovations is cocreated by Victor Bakker and Judith Smit.