In the quest to develop the science and raise funding, developing a digital strategy in general is an afterthought for fledgling biotech companies – if it’s considered at all. Not paying attention to it early, however, can hamper their ability to advance their science and constrain their revenue-generation options.
The pandemic exposed the innovation divide between the digitally transformed and those that lagged. Strict regulation made life sciences and biopharma organizations hesitant to modernize too quickly away from proven legacy methods and technologies, resulting in varying levels of digital transformation. But are they missing out?