Why Don’t More Biotech Startups Succeed? Merck & Co. Might Have A Solution
Merck is supporting startups with its Emerging Biotech Initiative, which grants winners up to €100K in products and services.
As the number of R&D projects started by biotech companies and academic institutions increases, biotech is proving itself to be a vital part of medicine. So what’s holding startups back?
Funding trouble is one of the primary reasons the development of a biological fails. Clinical trials are astronomically expensive, running up to $10M for early IND and Phase I stages, $40M in Phase II and at least $80M in Phase III. Beyond a large cash pile, a biotech startup also needs to stake out intellectual property to protect its ideas and the business it wants to build on top of them.
As the number of R&D projects started by biotech companies and academic institutions increases, biotech is proving itself to be a vital part of medicine. So what’s holding startups back?
Funding trouble is one of the primary reasons the development of a biological fails. Clinical trials are astronomically expensive, running up to $10M for early IND and Phase I stages, $40M in Phase II and at least $80M in Phase III. Beyond a large cash pile, a biotech startup also needs to stake out intellectual property to protect its ideas and the business it wants to build on top of them.