If you want to get a big job done quickly, you can't do it yourself. That's the first thing Breca Tracy, Ph.D. and director of business development at Oklahoma City-based Caisson Biotech LLC, said when we asked her about Caisson's experience at the 2012 BIO International Convention.
Tracy knows what she is talking about. Caisson is doing a masterful job of carrying out a strategy of building partnerships to speed its technology's time to market. The company's momentum accelerated when Caisson signed a development licensing agreement with Novo Nordisk, a global health care company. The anticipated value of the agreement is more than $100 million.
“BIO was a phenomenal experience,” Tracy said. “We were booked back to back with meetings each day. Caisson has an incredible, differentiated technology with the potential to be of great value for a safer alternative drug delivery system. The agreement with Novo Nordisk provides commercial validation of our platform, which has helped accelerate Caisson's commercial presence in drug delivery.”
Creating and growing a successful bioscience company requires reputable science, an ear for the market and the ability to explain the technology's potential and capabilities clearly.
“A scientist may have a breakthrough technology with unrealized commercial applications, but if a prospective partner or customer doesn't understand how it could be harnessed and developed into a new, enhanced or improved product, the discovery has a decreased chance of making it to the market. Science itself isn't enough to sell it,” Tracy said.
DID YOU KNOW?
Most of Oklahoma's bioscience patents in the past six years were in biochemistry, drugs and pharmaceuticals and surgical and medical instruments.