Over the course of 2019, our coaches and staff broke down the B-BIC application process to provide you with expert advice on all the of the questions we ask you to answer when applying for our program. For those who are not applying yet, the B-BIC proposal has many similarities to a business plan, which…

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Contributed by Erin McKenna, Deputy Director of B-BIC & Paul Tessier, B-BIC Coach Once you understand the unmet clinical need your technology can address and have connected that need with a solid business opportunity, the next thing to be considered is to understand the development path for the product you want to create. Outlining the…

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Contributed by Ilsa Webeck B-BIC Skills Development Expert Developing Innovative Strategies for Leading Edge Medical Technology Companies “I have an idea. A great idea. I mean, it’s an “I can’t believe no one has thought of this before” idea. The market for this product is going to be enormous.”  In conversations with innovators spanning devices, biologics,…

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Written by Paul Tessier A common refrain heard by healthcare entrepreneurs is that they should focus on satisfying an “unmet clinical need,” however there is no universal definition of the phrase, “unmet clinical need.”  Even established companies and public healthcare agencies, who use the concept of an unmet clinical need to assist in developing product…

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Written by Erin McKenna, B-BIC Deputy Director There are multiple frameworks out there that outline the process for developing promising biomedical research into a range of innovative solutions – pharmaceuticals, biologics, medical devices, and diagnostics.  Many of these processes leverage concepts that come from regulations developed by the FDA, the European Commission and others to…

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Co-authored by Erin McKenna, B-BIC Deputy Director & Ron Blackman, B-BIC Sr. Project Manager. When considering a development path needed to move technology to the clinic and beyond, it’s essential to address two questions:  Who will support the development of your technology, and what will they want to see to believe it can be commercialized? Who Will Support…

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Contributed by Ed Berger Principal Larchmont Strategic Advisors Reimbursement strategy counsel to companies across the life sciences spectrum   A basic understanding of the healthcare reimbursement system is an important success factor for any entrepreneur developing a new medical product. Reimbursement is critical to opportunity assessment, business plan development, investor due diligence, and commercial success.  The…

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Contributed by John Randle, Phd B-BIC COACH PRINCIPAL, RANDOM WALK VENTURES, LLC COO, KANTUM BIO As you prepare to move your technology or product out of the academic setting towards commercial development, a key step is to define the market potential for your technology/product.  Prospective investors will assess the opportunity in terms of the potential…

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Contributed by John Randle, Phd B-BIC COACH PRINCIPAL, RANDOM WALK VENTURES, LLC COO, KANTUM BIO The first step in defining your competitive landscape is to identify and define the technology’s current competition and how they fit into or define current standard of care (SoC).  List the products or substitutes that you would aim to replace…

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