ABSTRACT
This chapter discusses product development pathways for all types of biotechnology products. It describes in detail the development pathways for all products derived from the medical, agricultural, environmental, industrial, and nanobiotechnology sectors. The chapter provides an effort being made to familiarize readers with various aspects of biotechnology that have a bearing on the success of biotechnology businesses. It explains the product development process in the biotechnology industry, scientific inventions and their commercialization. The chapter describes various components of the biotechnology industry and various phases of biotechnology product development. It also explains how a biotechnology company can be started. The chapter also discusses the role of investment and financial implications in the biotechnology industry and intellectual property rights in biotechnology. It provides the roles of Good Manufacturing Practices, Good Laboratory Practice, the World Health Organization, and the US Food and Drug Administration in biotechnology product development.
