3 ms·
You can still fail at the marketing level even if you make it all the way through the approval process (Affezza comes to mind as a good example of this [1]). My
by danieltillett 11y ago
You can still fail at the marketing level even if you make it all the way through the approval process (Affezza comes to mind as a good example of this [1]). My background is in biotech and I feel the risk/reward ratio is too great in this area. Still a gutsy move from YC.
1. http://www.fiercepharma.com/story/sanofi-tried-and-failed-afrezza-why-does-mannkind-still-think-it-can-win/2016-02-10 http://www.fiercepharma.com/story/sanofi-tried-and-failed-af...
- lisper 11y agoMy very first angel investment was in a medical device company. They had FDA approval, patent protection, all the manufacturing in place, rave reviews from users, clear benefits over the competition... and they still failed because they couldn't get distribution. Ten years later I made another medical device investment. Again, good IP protection, FDA approved, clear data showing life-saving benefits. This one failed because the technical founders decided to go off the ranch and have a turf battle with the CEO. The Murphy factor in this sector seems pretty high to me.
- danieltillett 11y agoYes the bar in this area is very high as there are so many things that can go wrong. I think the difference is with pure software you are just dealing with human created complexity - with biotech you also have nature’s complexity to deal with too. Mix the two together and spice it up with some unbelievably stringent regulations and you have a recipe for a lot of heartburn.