Lifesaving Discoveries

A thorough look across the health care industry today, it is obvious that drugs and biologics represent only around 10 percent of American health care costs, a figure that has remained remarkably steady over the years. This is money well spent given that they also help reduce spending in other areas of our health care system, including hospitals and nursing homes.

We must remain committed to biotech research, development and innovation incentives as the industry faces fresh challenges of upholding its world leading position of innovation.

The field of Biotechnology, Biomedical Engineering and Medical Devices is constantly advancing. Scientific advances in biotechnology are ushering in a new era of medicine: targeted therapies and personalized medicine are coming of age. 

We are focusing on strategic partnerships in the biotechnology industry, which allow new technology-based firms to gain a foothold in this high-cost, high-risk industry. PKNM Solutions is examining and analyzing the impact of strategic partnerships and open innovation on the success of new biotechnology firms worldwide, by developing multiple case studies of firms in regional biotechnology clusters. We have noticed that, despite their small size and relative immaturity, new biotechnology firms are able to adopt innovative business models by providing R&D and services to larger firms and openly cooperating with them through open innovation.