A business model describes how the business creates and captures value. Is it a product or service? Who is the customer? What problem is the business solving for the customer? Who is the payor? Where (geographically) is the opportunity? Etc. The last decades have yielded an explosion in creative business models, most based on Internet businesses. The number of business models in therapeutics development is, however, more limited. The main questions are typically:
- Product, platform, or service?
- Asset-focused or pipeline-focused?
- Virtual or not?
- Build to operate or build to sell?
- Partner early or late?
- Bootstrap, venture, or alternative?
- Indication/modality/region/stage of development?