The biotech industry is changing in a way not enough people are talking about. This realization came about after I finally had some time to reflect on my time at #bio2024 in San Diego a few weeks ago. I actually spent most of my time at the amazing Bullpen with my incredible dovetail biopartners team with a focus on growing our network to attract future clients and partners. But while doing this I noticed two trends different from last year… 1. Many startups are streamlining operations by keeping a core C-suite and outsourcing all other functions. This strategic move allows them to allocate resources efficiently, crucial in early stages where fundraising is challenging. By outsourcing research functions, startups can stay agile and focus on core competencies, accelerating growth. 2. Collaboration is now pivotal. With financial constraints, businesses are joining forces to innovate and reduce costs. Startups and large pharma alike are finding that partnerships enable them to access new markets, technologies, and talent that would be challenging to leverage alone. Both of these things seem beneficial for my company’s future… but I’m actually more concerned. Concerned about how scientific talent is going to be used moving forward. — So… With companies relying more on outsourced work and partnerships to get things done, the hiring landscape is poised for significant change. Even large pharmaceutical companies are increasingly turning to outsourcing. This shift raises important questions for wet and dry lab scientists who may have been laid off and are now seeking roles in biotech research teams. Will they need to adjust their expectations and consider opportunities with contract research organizations (CROs) or other non-traditional roles? And this isn’t even getting into the whole “#AI is going to replace humans” debate. (My 2 cents here, AI is in it’s infancy and promises far too much right now. We still need smart humans to extract insights and make decisions.) Navigating this new “lean” landscape requires proactive strategies where professionals can still find fulfilling roles that then help companies thrive. — I'm committed to hosting events that provide value to the biotech community, and want to keep opening up discussions on tough topics. Including what I wrote out here. I have some great stuff planned with Buzzed for Biotech this year and I’m always happy to brainstorm more. So let me hear your thoughts on this new biotech landscape below, and ping me if you have ideas for impactful events! #biotech #pharma #lifesciences #jobs #recruiting #fundraising
This is great insight. It certainly will be a jarring shift in scientists’ career prospects and how they would rise up to managerial levels. I imagine building expertise in a specific disease field will become a challenge as well.
Eboni Agee
8mo
This is great food for thought for scientists (aspiring and current) in my generation, Gen Z. If seasoned scientists have a challenging time landing roles in biotech research teams in this new "lean" landscape, then it's likely to be even more challenging for the scientists who are early in their career and don't have graduate degrees. Mentorship, career coaching, and sponsorship should be part of the proactive strategies that help professionals at all career stages successfully navigate this shift in the biotech industry. Thanks for sharing, Daniel!
Daniel Ormsbee
8mo
I appreciate your insights! Being interested in biotech entrepreneurship, I’ve wondered how to navigate these contraints myself, but I never thought outsourcing research would be possible at a large scale. Interesting to hear that it’s an option.
KATRINA ROGERS
8mo
Hey Daniel! This industry has always leaned on outsourcing to efficiently access expertise. There has been much consolidation among CROs/CMOs, leaving gaps in capacity and services. It's an industry where small providers with unique offerings can grow fast - either to a sustainable small business or towards acquisition. The big players are so big that they struggle to innovate. It's a clear opportunity for founders, and a regional source of employment for those with technical and scientific KSAs. There is a lot happening outside of Massachusetts and California!
Rob Salafia
8mo
Great insights, Daniel! The shift towards streamlined operations and strategic partnerships is indeed transformative for biotech. Your concern about the evolving role of scientific talent is crucial. Embracing personal development and leadership training will be key for professionals to thrive in this new landscape. Looking forward to more of your thoughts on this!
Biopharmaceutical formulation & analytical support, from early development to commercialization | Director of Business Development @ Coriolis | Follow my profile & subscribe to the newsletter in my "Featured" section 🔔
8moDaniel Dacey 🐦 “By outsourcing research functions, startups can stay agile and focus on core competencies, accelerating growth.” That’s the great thing about working with CROs. You do what you’re best at, we’ll do what we’re best at (iPS cells for drug discovery, in the case of Ncardia). Faster to tap into our resources than build an internal iPS cell platform. And it’s something you can toggle on and off as projects ebb and flow, no need to commit to internal FTE.