SFKKIF105U  Entrepreneurship in Pharmaceuticals

Volume 2017/2018
Education

MSc Programme in Pharmacy or Pharmaceutical Sciences (Danish programmes cand.pharm and cand.scient.pharm) - elective

MSc Programme in Medicinal Chemistry - elective

MSc Programme in Pharmaceutical Sciences (English programme) - elective

Content

This course is designed for students who want to learn about idea development, entrepreneurship, and start-up processes within the pharmaceuticals (and related (bio)technologies) area. While intellectual property rights form an important part of the content, the scope of the course is broader than this, emphasizing an overview of entrepreneurship within the area, in which intellectual property constitutes one of a number of aspects.

Theory sessions will include an introduction to i) innovation management tools, ii) entrepreneurship models, iii) a variety of toolboxes for entrepreneurs, and iv) pharmaceuticals as a business area. Furthermore, conditions for discovery, intellectual property rights, and patenting are introduced, covering the structure of patent applications and concepts such as objective novelty, priority principle, and inventive step. An account is also made of various aspects of patent literature, as well as approaches to and searches within the pharmaceutical area. Moreover, legal framework related to establishing a company in Denmark will be introduced, as will licencing and typical pitfalls in contracts. These theoretical sessions will be complemented by illustrative case studies. In parallel, students will apply these tools to develop a venture idea in groups of 3-5 students through project work, in-class exercises, and interaction with stakeholders, including considerations of i) intellectual property rights, ii) market/competition, iii) scientific/technical development aspects, iv) clinical trial plans, and v) investment strategies, ultimately resulting in the development of a business plan.

The purpose of the course is to provide students interested in developing their own ventures and/or in entrepreneurial and innovation processes with a set of tools they can use to engage in new ventures or innovation teams within the pharmaceutical area. Moreover, the course aims to provide an overview of the significance of intellectual property rights in pharmaceutical research and development. This is linked to current developments within pharmaceutical industry, how this relates to entrepreneurial opportunities, as well as to strategic considerations of market/competition, scientific/technical development aspects, clinical trial plans, and investment strategies, illustrated by business case studies. To set this in practice, the students will develop a business plan in groups of 3-5, to be presented/pitched and provided feedback on by other students and the course team. thisFor this, students may either have an idea beforehand or will be able to develop an idea with help from the course team. To facilitate the business plan development, and to secure progression, a mid-course assessment will be held, and feedback provided to the groups for the finalization of the business plans. The final outcome is that students will be able to build on the knowledge and teamwork experiences from the course during their entrepreneurial career, and in further graduate courses on specific topics within innovation, entrepreneurship, and business development.

Learning Outcome

On completion of the course the student will be able to:

Knowledge

  • show an overview of concepts in entrepreneurship, developments in the pharmaceutics area, and business opportunities related to this.
  • explain principles of intellectual property rights and international patenting systems.
  • explain the importance of an active intellectual property rights strategy for pharmaceuticals (and related (bio)technologies) business development.
  • show an overview of business development aspects, particularly relating to start-ups, in the pharmaceutic area.

 

Skills

  • assess current developments within pharmaceutical industry, and how this translates into entrepreneurial business opportunities.
  • identify innovative elements and its relationship to intellectual property rights.
  • use professional databases to find relevant patents and patent applications.
  • read and interpret patents and patent applications to assess the strengths/weaknesses and freedom-to-operate situation.
  • communicate ideas to stakeholders, including team members, investors, customers, collaborators, and other potential partners

 

Competences

  • provide an overview familiarity with the process of pharmaceuticals development.
  • analyze and integrate open innovation and business model concepts and practices to understand, on a basic level, how pharmaceutical companies operate and compete in the market.
  • navigate in the patent landscape surrounding a product and explain the different stages of the patenting process, and requirements for obtaining a patent.
  • analyze the commercial potential of inventions based on technological and medical considerations, IP situation, and market analyses.
  • describe and compare the different means to fund or finance inventions in order to commercialize these including an introduction to business plans and raising venture capital for the new company.
  • develop and present a business plan integrating the aspects above.
  • interact with external partners, both industrial and academic, as well as in virtual organizations.

Selected documents including review articles, patent applications, and supplementary notes.

The course is designed to give students from a broad introduction to entrepreneurship within the pharmaceuticals (and related (bio)technologies) area, and no prerequisites with entrepreneurship are required. Students are expected to have a relevant background (e.g., from the pharmaceutical, life, or health sciences).
Class and guest lectures will provide students with an overview of current developments within pharmaceutical industry, and how these translate into entrepreneurial opportunities. They will also cover aspects of intellectual property rights, stakeholder interactions, and business strategy considerations, illustrated with case stories. As a core integrating activity of the course, students will develop a business plan on a venture idea, integrating these aspects, and give a presentation/pitch of their project. Furthermore, students will give and receive feedback on their project work, will need to learn how to work and organize themselves in teams, and will practice to communicate their business ideas.
Credit
7,5 ECTS
Type of assessment
Oral examination, 20 minutes
Course participation
Oral presentation of the partial business plan (mid-course evaluation). Weight: 25%. Oral presentation of the business plan developed. Weight: 75%
Exam registration requirements

Continuous assessment includes:

  • development of a business plan in groups of 3-5
  • oral group presentation of the partial business plan (mid-course evaluation)
  • feedback to other groups’ business plan
  • oral group presentation of the final business plan
Aid
All aids allowed
Marking scale
passed/not passed
Censorship form
No external censorship
Criteria for exam assesment

On completion of the course the student will be able to:

Knowledge

  • show an overview of concepts in entrepreneurship, developments in the pharmaceutics area, and business opportunities related to this.
  • explain principles of intellectual property rights and international patenting systems.
  • explain the importance of an active intellectual property rights strategy for pharmaceuticals (and related (bio)technologies) business development.
  • show an overview of business development aspects, particularly relating to start-ups, in the pharmaceutic area.

 

Skills

  • assess current developments within pharmaceutical industry, and how this translates into entrepreneurial business opportunities.
  • identify innovative elements and its relationship to intellectual property rights.
  • use professional databases to find relevant patents and patent applications.
  • read and interpret patents and patent applications to assess the strengths/weaknesses and freedom-to-operate situation.
  • communicate ideas to stakeholders, including team members, investors, customers, collaborators, and other potential partners

 

Competences

  • provide an overview familiarity with the process of pharmaceuticals development.
  • analyze and integrate open innovation and business model concepts and practices to understand, on a basic level, how pharmaceutical companies operate and compete in the market.
  • navigate in the patent landscape surrounding a product and explain the different stages of the patenting process, and requirements for obtaining a patent.
  • analyze the commercial potential of inventions based on technological and medical considerations, IP situation, and market analyses.
  • describe and compare the different means to fund or finance inventions in order to commercialize these including an introduction to business plans and raising venture capital for the new company.
  • develop and present a business plan integrating the aspects above.
  • interact with external partners, both industrial and academic, as well as in virtual organizations.
  • integrating the aspects above.
  • Category
  • Hours
  • Lectures
  • 20
  • Preparation
  • 90
  • Project work
  • 80
  • Colloquia
  • 7
  • Guidance
  • 9
  • Total
  • 206