Research is patient. Entrepreneurship needs everything done yesterday.
Research requires significant public and private front-end investment. Entrepreneurship bootstraps for months, even years. But when research and entrepreneurship intersect, magical things can happen.
Take DermaMedics, an Oklahoma City-based pharmaceutical skin care company that develops novel topical therapeutics for the dermatology market.
Founded less than five years ago by Dr. Bryan B. Fuller, DermaMedics has more than 20 products being sold through more than 220 medical offices in five states. Fuller was a first-time Biotechnology Industry Organization attendee at the 2012 BIO event, on a mission to expand national and international distribution through key partnerships.
“The BIO experience was fantastic,” Fuller says. “The first thing you do is post your contact information and a small paragraph about your company at the message center. Anyone interested can send a request for a meeting.”
When Fuller posted on the BIO partnering website that DermaMedics has developed nonsteroidal topical therapeutics to treat inflamed skin, he received a landslide of meeting requests.
“A lot of small startups at BIO request meetings with bigger firms,” Fuller said. “It was different for us. I didn't request one meeting; I responded to requests. If you are a technology, you have to convince people with the science. But we aren't just a technology; we have products on the market. That's an advantage that appeals to people.”