The October 1, 2014 “Hot Trends in Life Science Tools” event at Bio-Rad hosted by the Women in Bio San Francisco chapter highlighted the excitement of emerging biotech resources and profiled some of the women that are pioneering these technologies. However, each of the panelists has challenging competition to consider, as the scary side of great ideas is that they rarely come from only one source. The approaches these companies are taking, or will take, to carver out their niche in the rapidly growing biotech market should provide good parables for anyone considering entering the biotech startup world.
Dr Rachel Haurwitz, President and CEO of Caribou Biosciences, was the panelist that most represented how a hot idea in biotech spreads like wildfire and how focusing on a specific application of your tool can keep you relevant.
Caribou is in the CRISPR system genome editing game. When the CRISPR system was first described in Science in 2007 it was esoteric and best left to PhD molecular biologists. However, people wanted it and the demand sparked a race to simplify the system into a tool for anyone. Today, a search on Science Exchange brings up ten providers offering CRISPR contract services. To do-it-yourself, Addgene provides extensive resources and kits are available from Clonetech, OriGene, System Biosciences, Life Technologies, and more.
As a small startup, Caribou is avoiding being engulfed by the CRISPR blaze by focusing on a narrow market in a sexy field: epigenetics. Modifying epigenetic markers adds additional complexity to genome editing that the large kit makers are not ready to address, but that academic and industrial researchers need. This niche is giving Caribou time to grow and evolve. It also may make them attractive to those big companies.
Jessica Richman, President and CEO of uBiome, may face a similar challenge. uBiome is in the hot field of microbiomics and companies are popping up all over to stake early claims. Microbiomics is so nascent that the majority of these companies are in extreme stealth-mode; however all biotech startup expositions and competitions seem to include at least one, if not several. Watch closely, the microbiomics explosion will soon provide plenty of marketing and business development lessons.
Microbiomics and Dr Natalie Wisniewski’s PROFUSA, Inc., which is focused on implantable devices for monitoring tissue oxygen levels, also brought to mind the issues with “quantified self” product competition. Quantified self is commonly associated with “wearable” devices, like FitBit, Nike Fuel, and old-fashioned pedometers, but it can encompass any type of self-monitoring. Buy-in for these products is extremely low outside of tech bubbles like San Francisco according to TechnologyAdvice but more and more continue to flood into the market. Furthermore, NBC News reports consumers bore of them quickly with 40 percent of owners abandoning the product. This does not bode well for products that rely on a consumers attention span.
As an implantable device, PROFUSA is, according to Wisniewski, “what comes after wearables.” It has a medical application, but they will still face the wearable challenge of making continuous monitoring records useful to doctors. A The Daily Beast article highlights how these devices can be valuable tools, but concedes that most doctors have no interest in the data, which can come in an indigestible deluge. Without the acceptance of the medical community, and until doctors and insurance providers start requesting this information, self-monitoring devices may struggle.
As the title “Hot Trends in Life Science Tools” suggests, biotech is full of scorching new ideas; but it never hurts to remember that to keep a company vibrant takes as much innovation as that first idea.