The Funding of Biopharmaceutical Research and Development

Preface

My interest in entrepreneurship in the healthcare setting stems from the memories of my father’s medical laboratories. He received training during World War II in medical technology and after the war opened one of the first private medical laboratories in Southern California. He was a classic example of a scientist-entrepreneur, of the craftsman type. For nearly twenty-five years, he grew his business until ill health forced him to sell his firm and retire. Later, at times, he would comment that the value of his firm would have been much greater had he held onto his business for a few more years. Perhaps. However, within the following decade of his retirement, the technology in this healthcare segment changed rapidly, and with it the ...