Chemical Engineering May 2011 - 7

Bookshelf
Biotechnology Entrepreneurship:
From Science to Solutions. By Michael
Salgaller. Logos Press. 3909 Witmer
Rd., #416, Niagra Falls, NY 14305.
Web: logos-press.com. 2010. 216
pages. $64.95.
Reviewed by Kris Mani,
NSR Technologies Inc.,
Decatur, Illinois
any books have been aimed at would-be entrepreneurs
interested in starting companies. All
address the myriad of complex issues that aspiring
entrepreneurs must address to transform a promising
idea into a full-fledged business. The contents of this book
provide a sobering overview of the biotechnology business
for any aspiring biotech entrepreneur
While all new businesses must address the same core
issues - finding investors, building a team, and so on -
there are notable differences among different business segments.
Starting a science- or technology-based business, for
example, is considerably more complicated than starting
a restaurant, for example, if only because larger financial
resources are required and the timespan needed to reach
positive cash flow and profitability is longer.
Starting a biotechnology business is certainly among
the most challenging for an entrepreneur. Society's need
for medications is large and continues to grow. The range
of products to meet those needs includes active pharmaceutical
ingredients, targeted therapies, medical devices
and delivery vehicles. This demand creates significant opportunities
for entrepreneurs with the right combination
of technical and managerial skills, as well as the vision to
start a biotechnology businesses. However, the regulatory
and product-filing requirements, in addition to competitive
factors, can vary significantly for a given targeted product,
making the biotechnology field particularly challenging.
With help from a number of industry insiders with
specialized knowledge in various business-development
areas, Salgaller has authored and assembled a comprehensive
overview of the critical issues that entrepreneurs
face during both company startup and the transition to
an established entity. After an initial chapter that reviews
the common reasons for starting a biotechnology company
- including favorable societal impact, altruism and the
desire for wealth - the book provides details on company
formation, team-building, intellectual-property protection
and financing. These topics are of general applicability,
not only for starting a biotechnology business, but also to
business startups in other areas. Later chapters dealing
with exiting the business venture and effective networking
are also widely applicable.
The middle section of the book addresses issues specific
to the business of biotechnology. Any aspiring biotech-oriented
entrepreneur would be well advised to master them.
Specific topics addressed include: partnering with industry;
licensing and technology transfer from universities
and federal laboratories; regulatory affairs; and obtaining
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Chemical Engineering May 2011

Table of Contents for the Digital Edition of Chemical Engineering May 2011