In the summer of 2013, the medical device startup Scanadu made headlines around the world when Scout, its handheld medical diagnostic tool for consumers, raked in an astounding $1.6 million on the popular crowdfunding platform Indiegogo. That’s all well and good for a medical device, but most biotech veterans remain skeptical that crowdfunding can make a meaningful financial contribution to new biopharmaceutical development. I’ve worked in biopharma for 17 years, and I believe it can.
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