Ten years ago, a number of companies in the pharmaceutical and biotech industry created a collaborative consortium for the industry. The goal has been to streamline the evaluation of new technologies that support the drug discovery and development process.
To this end, the Technology Evaluation Consortium™, comprised annually of 10 to 15 biopharmaceutical companies, was formed. Each company is represented by an Executive Team member, a senior-level Steering Committee member, a number of Subject Matter Experts (SMEs), and all projects are managed by our Scientific Director.
Based on the success to date, we have expanded and grown the Technology Evaluation Consortium, with the following three goals:
Why Collaborate? Pharmaceutical-Biotech companies are increasingly relying on collaborations to:
· Share the infrastructure, cost and risk of drug discovery
· Accelerate the evaluation of new technologies
· Gain additional resources, a larger scientific data set and more insight from peer
· Improve cost efficiencies in technology evaluation
· Expedite drug discovery and avoid duplicative tasks
· Improve the value of results through the synergies created by multiple experts
Our goal is to help the industry by increasing the flow of technologies being evaluated. Everyone is struggling to find new ways to enhance the productivity of the industry – to bring more efficacious and safer medicines to the patients who need them. To this end, we have:
Introduced the Signature Square program:
· This will provide the industry with the opportunity to learn about more scientific technologies (from drug safety to biomarkers to new chemical entities and beyond).
· And, it will expedite the consideration and adoption of these technologies, because it will accelerate the feedback loop between industry and technology or service providers.
In a recent study, we surveyed 96 individuals from a cross-section of small, medium and large pharmaceutical companies to learn their key concerns in adopting technology for the first time in their organization. The top item stated by respondents was the need for ‘Validation of the Technology’.
Van Dam, Dawn. Market Research Report: 5th Annual Survey on Technology Adoption. [Boston]: One Million Solutions in Health, 2014. Print.
Vendor Evaluation by Industry with Feedback
· >30-minute webinar presentation
· Rating by industry
· Quantitative and qualitative feedback & you will learn why the group did or did not choose you as the TEC project winner
· Signature Square™ designation bestowed upon company
· Designation can be used on website and in all promotional material
· One winner of a free TEC hands-on evaluation by the industry
Academic Evaluation by Industry with Feedback
· 15-minute webinar presentation
· Rating by industry
· Quantitative and qualitative feedback
· Signature Square™ designation bestowed upon technology
· Designation can be used on website and in all University-related material
To increase the number of technologies being evaluated by the industry, and support our vision to ‘Transform Science into Commercial Success’, we have launched the Signature Square™ program.
Via an application process and a webinar, the current TEC members from the biopharmaceutical industry (or clinical practitioners) will evaluate all applicants. They will rank them on a number of criteria based on these two dimensions: a) market readiness and b) value to the marketplace.This program is available to both commercial technology providers and to academics with new, promising technology.
Each applicant will receive feedback on how they are ranked. All applicants will be granted one of the following four designations:
For the commercial technology providers, the biopharmaceutical companies will then choose ONE company to have a FREE, full-blown Technology Evaluation Consortium project (based on a minimum number of 4 applicants per category) or a FREE marketing program.
· This is an opportunity for you to receive direct feedback from the relevant Subject Matter Experts (SMEs) who have a role in deciding ‘where you fit’ into their drug discovery process or clinical practice.
· This can be early or mid-stage evaluation of your technology, which can then be shared with potential investors, to help support your growth and expansion plans.
· You will receive an industry-derived designation of one of four Signature Square™ areas – helping to set you apart from the competition.
· A report will be provided, outlining the scores and all qualitative feedback provided to you, as it relates to your Application and the Webinar presentation.
· The Application and Webinar will be your opportunity to make the key industry decision-makers aware of what you are offering, and how it can support their goals.
· And, most importantly, as a commercial technology provider, you have an opportunity to be designated the winner of the FREE Technology Evaluation Consortium™ project, and receive a full-blown consortium project (or marketing program).