Magazine Article | June 1, 2023

In Partnering With Academic Institutions To Advance Drug Discovery, What Are The Key Benefits And Challenges?

Source: Life Science Leader

IN THE QUEST FOR INNOVATION, THE EARLY BIRD GETS THE WORM. Gone are the days when academic collaborations were considered too long-term or too academic. In today’s ecosystem, academic partnerships are no longer an option: Waiting too long for a drug candidate to emerge can mean losing the deal or paying a sky-high premium. Understanding the benefits and challenges associated with an academic partnership is critical for success.

Some of the benefits of partnering with academia include the opportunity to work with true thought leaders in various domains. From a cultural perspective, this free flow of information between partners is very stimulating intellectually, which helps create a productive work environment. Another benefit is the ability to co-create and shape innovation to meet patient needs.

On the flip side, mission alignment between partners is critical; misaligned incentives are a major reason for failure. It’s also important to accommodate near-term needs and demands beyond the overall project mission, such as publications for academic partners or an industry partner’s need to shift the strategy for maximal patient impact.

CHANDRA RAMANATHAN is global head, innovation hubs, at Danaher Corporation.