Lecture 12_Biotech as a business Flashcards
(6 cards)
What key discovery did Cohen and Boyer make in 1973?
Restriction enzymes could cut DNA fragments and ligate them into plasmids
(foundation for recombinant DNA technology)
Why is Genentech considered the first biotechnology company?
first company to commercialize recombinant DNA technology
What was the significance of the Cohen-Boyer patent
It generated ~$255M for Stanford and was widely licensed, enabling the rapid growth of the biotech sector.
What is the Bayh-Dole Act (1980)?
A US law allowing universities to retain IP from federally funded research, encouraging commercialization.
How do biotech companies primarily generate revenue?
By selling or licensing IP, not by selling products early in their development.
Why are many biotech firms historically loss-making?
Because of long R&D timelines and high risk, with limited short-term revenue.
