Moving drug discoveries beyond the valley of death: the role of innovation ecosystems

Francesco Calza, Marco Ferretti, Eva Panetti and Adele Parmentola

European Journal of Innovation Management, 2020, vol. 24, issue 4, 1184-1209

Abstract: Purpose - The paper aims to explore the nature of initiatives and strategies of inter-organizational cooperation to cross the valley of death in the biopharma industry. Design/methodology/approach - The authors conducted an exploratory case study analysis in the Biopharma Innovation Ecosystem in Greater Boston Area (USA), which is one of the oldest, and most successful IE in the US, specialized in the Biopharma domain, by conducting a round of expert interviews with key informants in the area, chosen as representatives of the different types of actors engaged in the drug development processes at different stages. Findings - Main findings suggest that cooperation can contribute to surviving the valley of death by reducing the barriers within the drug development pipeline through the promotion of strategic relationships among actors of different nature, including the establishment of government-led thematic associations or consortia, agreements between university and business support structures, proximity to venture capitalist and the promotion of a general culture of academic entrepreneurship within universities. Originality/value - The authors believe that this paper contributes to the literature by shedding light on the nature of the specific cooperative initiative the barriers in drug development and help to survive the valley of the death.

Keywords: Drug development; Innovation ecosystems; Innovation management; Biopharma (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ejimpp:ejim-11-2019-0342

DOI: 10.1108/EJIM-11-2019-0342

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