In today's business world, the term “fail fast” is often used to describe an approach where you fail fast and fail often, learning what to do and what not to do in the process. In this model, companies embrace their failures, using them as small steps towards the ultimate goal of perfection. In the biologic world, this model can be far too pragmatic and costly. It's simply not economical to slow progress and risk the company’s bottom line or potential regulatory snags that may inhibit products being first to market, if at all.
So, rather than failing fast, you need to “succeed often”, and as quickly as possible. This business model requires a comprehensive assessment of your company and its capabilities. In some cases, you may find your company has the internal resources necessary to do it on your own. In many others though, getting your product to market could require partnering with external organizations that have the expertise and bandwidth to supplement the areas you are lacking. These 3rd party organizations are known as contract and development manufacturing organizations or CDMOs.
Benefits of partnering with a cDMO
Some of the benefits of partnering with a biologic CDMO like BioStem may include:
Quality – With a rigorous quality assurance program already in place, BioStem already meets the demand for regulation and customer expectancy. This sort of quality program is something that could take years for a new manufacturer to implement.
Technical & Regulatory Expertise – By contracting with BioStem, you can benefit from our skills and processes that you may not already possess, as well as our knowledge of the regulatory landscape.
Overhead/Cost Savings – One of the most significant costs associated with manufacturing is facility overhead. By contracting with us, you can avoid this financial burden and focus your capital elsewhere.
Production Bandwidth – It can be challenging for many companies who do their own production, to meet the market demand. In these instances, the overflow is outsourced to a reputable manufacturing facility. By choosing BioStem, you can ensure that your additional production needs are adequately met.
Strategic Relationships – One major benefit of partnering with BioStem is leveraging our strategic relationships with raw material vendors, equipment manufacturers, and regulatory bodies.
Scalability – By working with our BioStem, you can take chances that would be much more difficult to try on your own. Our services enable you to test new products with minimal investment, observing variables and obstacles before going to market on a grand scale.
Have Questions? Reach out to us
If you have questions about the company, our lab, our scientific team or anything else, please feel free to contact us.