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Despite the huge investments, regulatory burdens, and uncertain market place, Burrill talks about how venture businesses investing in the life sciences industry make money. He stresses the importance of creating a perceived value (which is much higher than the actual value) as well as taking advantage of global arbitrage of technology having a higher value in certain parts of the world as compared to others.
Burrill talks about how starting a biotech company is different from starting any other company in the world. In other companies, it is the customer who decides whether you will succeed, Burrill says. For a biotech company, the customer is 10 to 15 years away. There is a huge importance of regulators standing between you and the customer. Additionally, in the healthcare world, most of the products in the market increase the cost of the system. Finally, a biotech company is global from the day it has started.
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