ABSTRACT

This chapter discusses how biotechnology innovations arrive at their final business model and target market, which forms of agency and relational work are required for this, and what role investors have to play. A preference for ‘staying small’ and searching for the right opportunity with an industrial investor had, according to respondents, prevailed over a more up-scaled and cot-intensive idea of business development. The chapter shows that biotechnology innovations undergo deep transformations on their path from an initial materialization to a viable business case and finally the market. The stock market was considered an ideal source of financing for companies, after a venture capital funded growth period. The successful completion of a clinical trial is a precondition of market admission by the central regulating authorities–the Food and Drugs Administration in the United States and the European Medicines Agency in the European Union. Market admission is issued for the ex-ante specified indication and form of delivery.