Consolidating Custom Manufacturing for University-based Start-ups
The Technology Transfer Office (TTO) of a major East Coast university recently assisted three startup biotechs originating from the school’s chemistry and pharmacology departments. While the major products at each firm differed greatly, the core technology of each was predicated on an identical chemical platform. After speaking with Richman Chemical at an outsourcing and licensing conference, the TTO in charge recommended Richman Chemical to the technology officers of each startup in order to consolidate the availability and minimize the costs of the key chemical raw material. This approach helped to maximize the limited private equity dollars available from the three startups. Richman Chemical's recognition of the time and cost sensitivities relevant to university-affiliated and seed money-supported startups is crucial for success!