Entrepreneurship in Biotechnology

Definitions and Concepts

“Biotechnology” term is coined by Karl Ereky in 1919. Some categories have been defined on Bio-entrepreneurship:

Value of Bio-Pharmaceutical chain

The chain value initiates with the identification of a target molecule in the living organism which might be the causative agent of a specific disease. For identification of those targets, the scientific skills and techniques are required as per protocol like biochemistry and chemistry. The outcome of the chain value in bio-pharmaceutical is a corrected target molecule which is convey the development of the disease targeted. In next step, pre-clinical testing needed biological and medical knowledge about the animal behaviour and structural properties of the investigated tissue.

In Phase 1 clinical trials, individuals receives the novel drug for the treatment for particular disease. And In Phase 2, a Placebo controlled means large scale investigation is conducted with the proving novel drug safety and efficiency among a considerable number of individuals. After phase 1 and phase 2, Phase 3 clinical trials are placebo controlled investigation or studies to prove that the efficiency of novel drug on a statistically ongoing level. Moreover, the clinical trial processes is highly conveyed and needed legal protocol – How to receive regulatory approval.

At last, the description of the chain value of Bio-pharmaceutical value in the development process with its different stages and clinical trials needs particular knowledge, capabilities and know how to address the different areas like medicine, bioscience and biochemistry.