X-ZELL CEO reveals path to success in burgeoning biotech market
Singapore, May 2018 – X-ZELL CEO, Dr Sebastian Bhakdi, used his guest speaking spot at the 2018 HealthInvestor Asia Summit today to reflect on the opportunities and challenges biotechnology start-ups face in Asia and why so many of them fail to go all the way from ideation to product launch.
As head of one of Asia’s first Silicon Valley-backed biotech start-ups, Dr Bhakdi revealed that there were many crucial lessons he and his team had to learn the hard way.
“If you asked me what biotech is all about, I would tell you it should improve people’s lives and make medicine more efficient,” Dr Bhakdi explained.
“If you then asked me what’s holding back many businesses in this space, I’d reply that most of them lose sight of these basic goals too quickly.”
According to Dr Bhakdi, researchers regularly fail to consult practitioners and take market trends into account as they develop new assays.
The result, he said, was a situation where problems and solutions are often misaligned. “Successful companies find ways to build bridges between all stakeholders,” he reiterated.
“If you want to make a difference to a patient’s life, you have to make sure your test actually reaches them. To achieve that, a doctor will have to prescribe your test. There is no other way.”
Dr Bhakdi’s TED-style presentation also revealed that X-ZELL is back in fundraising mode as the company’s first commercial product, a blood test called X-ZELL Prostate, nears completion.
“I am very happy to announce that we are commencing our validation study for X-ZELL Prostate right here in Singapore,” he said.
“Starting right now, we will collaborate with a leading local hospital to make sure our test will reach the market as soon as possible.”
Dr Bhakdi also commended on the decision to hold the HealthInvestor Asia Summit in Singapore, saying as the region’s key logistics, finance and research hub, it was quickly evolving into a driving force of globalization.
He commented: “Meeting here today is sending the perfect signal to the world out there.”
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