From the Lab to Launch: How to Prepare Your Biotech for a Successful Debut
Picture this: you’ve secured the funding needed to kickstart your biotech and you’re eager to launch – as exciting as this may be, a company debut calls for some intensive preparation and behind the scenes work that should be initiated several months in advance. The steps taken prior to launch are foundational to a company’s success and can ultimately determine whether you make it to market or fall flat. So, before you enter the execution phase of your public debut, consider the following tactics to ensure a smooth and effective launch.
Positioning and messaging
There’s no shortage of novel scientific approaches within the biotech industry, and with innovation comes competition. In order to attract the attention of media, investors and potential partners, it’s critical to develop a brand story that clearly communicates your company’s key differentiators – whether it be your breakthrough platform technology, a novel mechanism of action or an executive team with a proven track record of bringing drugs to market. Crafting a compelling story about who you are as a company and why you’re positioned for success is key. Even further, it’s critical to ensure that your brand story is effectively messaged across all channels including your debut press release, any media or Q&A documents, your corporate deck, your social media channels and more.
Investor relations strategy
Developing a sound investor relations strategy is crucial if you plan to garner enough investor interest and funding to carry your biotech from launch to its next value inflection point, and the first step is building out your corporate deck. Designed to capture your mission, vision and value proposition in a mere 15-30 slides, the corporate deck can be one of the hardest materials to effectively execute. Be sure to allocate enough time ahead of your debut to bounce ideas off any advisors or analysts and make the necessary adjustments to ensure the deck is telling the right story.
What is the origin of your company’s name? How does your biotech’s approach differ from that of your competitors? How does your technology work? Will your financing enable the company to execute on any particular milestones? These are all questions that may be asked in a media interview centered around a company launch. Before going public with your debut, it’s essential to ensure that your company spokesperson is prepared to engage with the media and is confident in their ability to stick to your key messages. Developing a Q&A document and holding a media training are incredibly valuable steps in the path to a successful company debut and should be added to your pre-launch checklist.
Building your visual brand
Curating a visual brand that feels representative of your scientific story and mission is no easy feat but should be prioritized as you prepare for launch. Eye-catching logos and captivating websites that are as innovative as your science have the potential to set your biotech apart from the rest and instill excitement and curiosity around your company’s approach. While ramping up for your debut, be sure you allocate enough time and resources to develop a cohesive brand identity and a full suite of supporting assets ranging from your corporate website to animations and print collateral.
Establishing a social voice
Social media has become a powerful tool for biotech companies looking for alternative avenues to engage with audiences such as investors, media, potential hires and patients. As such, establishing a social media strategy and presence on relevant platforms at the time of launch is crucial to ensure that you’re maximizing your biotech’s reach from the outset. As you craft your company’s voice on social media, consider using your corporate values to inform the focus and tone of your social content. If patient advocacy is a central part of your company culture, for example, highlight this by engaging with relevant organizations, sharing patient stories or posting educational content.