Raising financing through strategic timing

Strategic timing can be key for nano-drug-delivery ventures to get financing. Timely publications engage potential partners; early broad, blocking, relevant patents demonstrate the potential to appropriate value; and venture formation closer to clinical viability better aligns its timeline with that of venture capitalists.

Access options

Rent or Buy article

Get time limited or full article access on ReadCube.

from$8.99

All prices are NET prices.

Figure 1: Emergence of nanobiotechnology firms by subsector.
Figure 2: Strategic timing of BIND Therapeutics.

References

  1. 1

    Maine, E., Thomas, V. J., Bliemel, M., Murira, A. & Utterback, J. Nat. Nanotech. 9, 2–5 (2014).

    CAS  Article  Google Scholar 

  2. 2

    Maine, E., Thomas, V. J. & Utterback, J. J. Eng. Technol. Manage. 32, 1–25 (2014).

    Article  Google Scholar 

  3. 3

    Wagner, V., Dullart, A., Bock, A. & Zweck, A. Nat. Biotechnol. 24, 1211–1217 (2006).

    CAS  Article  Google Scholar 

  4. 4

    Patient Capital 3.0: Confronting the Crisis and Achieving the Promise of Venture-Backed Medical Innovation (NVCA, 2013).

  5. 5

    Lok, C. Nature 467, 18–21 (2010).

    CAS  Article  Google Scholar 

  6. 6

    Kreller, R. Nat. Rev. Drug Discov. 9, 867–882 (2010).

    Article  Google Scholar 

  7. 7

    Ford, D. & Nelsen, B. Nat. Biotechnol. 32, 15–23 (2014).

    CAS  Article  Google Scholar 

  8. 8

    Von Krogh, G., Battistini, B., Pachidou, F. & Baschera, P. Nat. Biotechnol. 30, 911–915 (2012).

    CAS  Article  Google Scholar 

  9. 9

    Pisano, G. Ind. Corp. Change 19, 465–482 (2010).

    Article  Google Scholar 

  10. 10

    Dougherty, D. & Dunne, D. Organ. Sci. 22, 1214–1223 (2011).

    Article  Google Scholar 

  11. 11

    Schachter, B. Nat. Biotechnol. 30, 944–952 (2012).

    CAS  Article  Google Scholar 

  12. 12

    Reif, L. R. A better way to deliver innovation to the world. The Washington Post (22 May 2015).

  13. 13

    Christini, A. Nat. Biotechnol. 30, 933–936 (2012).

    CAS  Article  Google Scholar 

  14. 14

    Maine, E. R&D Manage. 38, 359–371 (2008).

    Article  Google Scholar 

  15. 15

    Maine, E. & Seegopaul. P. Nat. Mater. 15, 487–491 (2016).

    CAS  Article  Google Scholar 

  16. 16

    Burgess, P. et al. Nat. Biotechnol. 28, 1267–1270 (2010).

    CAS  Article  Google Scholar 

  17. 17

    Kaplan, S. & Murray, F. Res. Sociol. Organ. 29, 107–147 (2010).

    Article  Google Scholar 

  18. 18

    Yin, R. K. Case Study Research: Design and Methods 5th edn (Sage Publications, 2014).

    Google Scholar 

  19. 19

    Gref, R. et al. Science 263, 1600–1603 (1994).

    CAS  Article  Google Scholar 

  20. 20

    Farokhzad, O. C. et al. Proc. Natl Acad. Sci. USA 103, 6315–6320 (2006).

    CAS  Article  Google Scholar 

  21. 21

    Langer, R. & Folkman, J. Nature 263, 797–800 (1976).

    CAS  Article  Google Scholar 

  22. 22

    Hall, B. & Lerner, J. in Handbook of the Economics of Innovation (eds Hall, B. H. & Rosenberg, N.) Vol. 1, Ch. 14 (Elsevier, 2010).

    Google Scholar 

  23. 23

    NVCA 2016 National Venture Capital Association Yearbook (Thomson Reuters, 2016); http://go.nature.com/2i9irza

  24. 24

    Thomas, V. J., Bliemel, M., Shippam-Brett, C. & Maine, E. The role of star scientists in university spin-off emergence. In R&D Management Conf. 2016 (2016).

    Google Scholar 

  25. 25

    Jones, D. Nat. Rev. Drug Discov. 6, 174–175 (2007).

    Article  Google Scholar 

  26. 26

    Langer, R. Challenges and Opportunities at the Confluence of Biotechnology and Nanomaterials (AAAS, 2013); http://go.nature.com/2irWorf

    Google Scholar 

  27. 27

    Zurutuza, A. & Marinelli, C. Nat. Nanotech. 9, 730–734 (2014).

    CAS  Article  Google Scholar 

  28. 28

    Maine, E. Rev. Nanosci. Nanotechnol. 2, 301–308 (2013).

    Article  Google Scholar 

  29. 29

    Maine, E. & Garnsey, E. Res. Pol. 35, 375–393 (2006).

    Article  Google Scholar 

  30. 30

    Hrkach, J. et al. Sci. Transl. Med. 4, 128ra39 (2012).

    Article  Google Scholar 

  31. 31

    Huggett, B. Nat. Biotechnol. 31, 697–703 (2013).

    CAS  Article  Google Scholar 

  32. 32

    Nicholson, S., Danzon, P. & McCullough, J. J. Bus. 78, 1433–1464 (2005).

    Article  Google Scholar 

  33. 33

    Ledford H. Nature 533, 304–305 (2016).

    CAS  Article  Google Scholar 

  34. 34

    Brickley, P. Pfizer cleared to buy nanotech drug firm BIND therapeutics. Wall Street Journal (27 July 2016).

  35. 35

    Hsu, D. & Ziedonis, R. Acad. Manage. Proc. http://doi.org/bhx4gq (2008).

  36. 36

    Guzman, J. & Stern, S. Science 347, 606–609 (2015).

    CAS  Article  Google Scholar 

  37. 37

    Booth, B. L. Nat. Biotechnol. 34, 25–30 (2016).

    CAS  Article  Google Scholar 

  38. 38

    Bubela, T. M. & Caulfield, T. Trends Biotechnol. 28, 447–451 (2010).

    CAS  Article  Google Scholar 

  39. 39

    Nelsen, L. L. Nat. Rev. Mol. Cell Biol. 5, 243–247 (2004).

    CAS  Article  Google Scholar 

  40. 40

    Chandler, D. L. 3 Questions: Lita Nelsen and the Technology Licensing Office. MIT News (7 November 2014); http://go.nature.com/2j9Pwga

  41. 41

    Williams, H. J. Polit. Econ. 121, 1–27 (2013).

    Article  Google Scholar 

  42. 42

    Edwards, A., Bountra, C., Kerr, D. & Willson, T. Nat. Chem. Biol. 5, 436–440 (2009).

    CAS  Article  Google Scholar 

  43. 43

    Edwards, A. Nature 533, S70 (2016).

    Article  Google Scholar 

Download references

Acknowledgements

The authors thank L. Foster, R. Langer, S. Minick, P. Burgess and O. Farokhzad for time and access provided and the participants of the Academy of Management Conference 2015, the Personalized Medicine Summit 2015, the International Schumpeter Society Conference 2016 and the R&D Management Conference 2016 for their feedback. In addition, the authors are grateful to Mitacs, the Centre for Drug Research and Development Ventures Inc., and the Beedie School of Business (Simon Fraser University) for funding through a Mitacs Elevate post-doctoral fellowship (grants IT02825 & IT02992).

Author information

Affiliations

Authors

Corresponding author

Correspondence to Elicia Maine.

Supplementary information

Supplementary information

Global Nanobiotechnology Firm Sample (PDF 362 kb)

Rights and permissions

Reprints and Permissions

About this article

Verify currency and authenticity via CrossMark

Cite this article

Maine, E., Thomas, V. Raising financing through strategic timing. Nature Nanotech 12, 93–98 (2017). https://doi.org/10.1038/nnano.2017.1

Download citation

Further reading