Starting a biotech company is a daunting journey filled with both challenges and opportunities. Unlike many other industries, the path from idea to market in biotech can be particularly long. To build their biotech company, founders must navigate a labyrinth of scientific validation, regulatory requirements, and fundraising challenges before their innovations can reach patients. According to Paul Jaminet, chief executive officer (CEO) of Angiex, “Building a biotech company takes confidence – to pitch, to lead, and to sustain belief in your vision through thick and thin for the decade or more it takes to build the company.” From choosing your area of focus to landing your first funding after building a clear strategy, attracting talents, and grasping the importance of intellectual property (IP), the biotech process is no walk in the park. Beyond these concrete hurdles, Xavier Duportet, co-founder and CEO of Eligo Bioscience, noted that starting your biotech business can be lonely. “I started the company 10 years ago in France, and I would say the biggest challenge at the time was being quite alone as a young entrepreneur in the biotech world and building credibility to start the company. It was hard to find mentoring back then, but the environment changed a lot in Europe since – for the better – although there is still a stronger network effect in the U.S.” Yet, for those willing to embrace the risks, the potential rewards are immense. In this article, we provide advice for aspiring biotech entrepreneurs provided by founders who have successfully gone through the process.

Full report : Biotech company founders explain how they build their companies and what it takes to start a biotech startup.