Plan the Journey, Build the Network – Keys to Biotech Success

Jessica Martinsson, SwedenBio

What does it take to bring a drug from idea to market? Jessica Martinsson, CEO and Director General of SwedenBIO, shares insights from the industry and explains why having a holistic perspective from the very beginning is so important.

The Road to Market: More Than Clinical Data

For a drug to truly reach patients, more than promising clinical results are needed. Even in the early development phases, companies need to consider health economics, pricing, and reimbursement models. Jessica emphasizes that investors also demand clarity in these areas.
– It is about understanding willingness to pay, patient populations, and current treatment options – long before the product is finished, Jessica makes clear. There are many consultants and tools to support you along the way – Contact SwedenBIO! she suggests.

Pitfalls and Strategies in the Development Phase

A common pitfall in development is when a molecule proves to be safe and effective in phase one – but ineffective in later phases. Jessica highlights the importance of “frontloading” the project:
– You need to build a robust scientific foundation from the start: bridge biochemistry and cell studies to clinical data and understand early whether the molecule does what it is supposed to in the body, she says.

“You’re not the First to Face this Problem”

– You’re not the first to face this problem. Ask for help from those who have done it before, says Jessica. She emphasizes the importance of networking and collaboration, arguing that it’s essential to build networks and know how to find the best support – “there’s always someone in the world who is an expert in what you need to know more about”.

Challenges for Swedish Biotech Companies

One major challenge for Swedish biotech companies is access to capital. Jessica believes it is crucial to understand early on where the investments will have most impact, and to have a clear plan for the entire development chain – from molecule to market.
“Fail fast” is an important motto, she says – better to discover early if the project won’t hold, rather than wasting years and resources on something that won’t reach the market.

The Regulatory Environment

The regulatory environments in both the EU and the U.S. are changing – something that can affect biotech companies’ ability to attract investments. Jessica describes it as concerning that the time for response from the FDA and EMA have become longer.
This puts higher demands on early planning, regulatory competence, and international coordination – especially if you’re targeting both the EMA and FDA.

– See regulatory requirements as a ladder to climb upward and forward, Jessica says. If someone is going to invest in your project, confidence is essential – and at the end of the day, it is about the patient’s health and safety.

Academic Expertise and the Need for an Industry Perspective

Academic research is characterized by cutting-edge expertise – often at the expense of breadth. In industry, the work is typically broader. If a project fails, you go back a few steps and try another idea or molecule. Several possible paths are kept open in parallel, especially in the early development phases.

– It is about understanding the biology and “stacking the odds in your favor”, Jessica explains. It is no coincidence that some companies succeed again and again – they build on a systematic approach that can be learned, and on the ability to quickly identify new options when one path doesn’t hold.

Jessica often describes small research-based companies with academic background as flowers: to bear fruit, they need pollination – often in the form of collaboration with contract research organizations and experts with industrial experience.

Is the Capital Market Local or Global?

According to Jessica, drug development has become “a global language” – even when it comes to raising capital. At the same time, there are several advantages to operating in the Swedish market.

Small companies in Sweden have long had the opportunity to get listed on the stock exchange, and there is a strong culture of small-scale stock investing. Much of Sweden’s investment capacity rests on private investors – unlike in many other countries where institutional investors dominate.

Sweden also has the so-called “professor’s privilege,” which means university researchers own their own inventions. This leads many brave researchers to take the leap into entrepreneurship.

World-Class Competence

So, what kind of competence is required to work in biotech?

– It depends on where you are in the process. But whatever you do, you need to be world-class, says Jessica. That doesn’t mean you have to know everything – but you need to know who to ask about the next step!

– We Swedes sometimes need to get better at promoting ourselves. You have to be able to “talk up the product” to investors, partners, or potential team members. In recruitment, you also need to “sell the adventure of working at a small research company.”

Courses that Provide a Holistic Perspective

SwedenBIO and Läkemedelsakademin offer the courses Biologics Drug Development and Drug Development.  Jessica sees these courses as important tools for building understanding of the entire development journey – from lab to patient.
They offer a cohesive understanding that helps participants make better strategic decisions and know when to bring in networks or experts.
– It’s precisely that holistic view that’s the greatest takeaway, says Jessica. You need to understand the full journey to the patient, including health economics – and stay on the right track all the way.

By Lena Mårtensson/Läkemedelsakademin