Regenerative medicine business models: towards an indicative model and typologies

Speaker: Dr Geoffrey Banda # Science, Technology and Innovation Studies, University of Edinburgh

28th Sep 2015

15:30 - 17:00

Staff Room, 6th floor, Crystal Macmillan Building, George Square, University of Edinburgh

Regenerative medicine therapy promises to solve intractable and unmet health needs by repairing, replacing or regenerating cells, organs or tissue damaged by disease. As a fourth but more complex pillar to medicine the realisation its promise depends on sustained entrepreneurial, technological, and funding capabilities development because a large proportion of players in the sector are SMEs. Coordinating funding, policy and regulation intervention for technology and innovation priming requires a shared and common understanding of the logic of regenerative medicine businesses. A business model approach provides a useful tool for understanding, reference, analysis and intervention by diverse stakeholders as it can reduce information asymmetry amongst practitioners, policy makers, and funders. The business model concept however as an abstraction of the logic of an enterprise is elusive and carries different meanings. This paper applies the concept of business models to regenerative medicine building on ideas developed originally for the IT or ecommerce sector by extracting useful concepts, critiquing and modifying them to construct indicative regenerative medicine business model(s) and their typologies. To arrive at these regenerative medicine business model and their typologies we took the descriptive and representational approach to model building by micro level deconstruction of the capabilities and competencies required at various stages of the value chain.

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