Paper
Journal of Commercial Biotechnology (2005) 11, 155–170; doi:10.1057/palgrave.jcb.3040113
Determining the value of drug development candidates and technology platforms
Kerstin M Bode-Greuel1 and Joachim M Greuel
1Bioscience Valuation BSV GmbH, Am Zigeunerbergl 3, D-82491 Grainau, Germany, Tel: +49 8821 96 69 79 0, Fax: +49 8821 96 69 79 29, E-mail: k.bode-greuel@bioscience-valuation.com
Received 7 December 2004.
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Abstract
This paper explains a comprehensive and systematic approach to evaluate drug development projects and technology platforms, using an augmented version of net present value (NPV). The benefits of financial models for value-driven project and portfolio management, licensing negotiations and investors' decisions are discussed.
Keywords:
biotechnology, valuation, drug development, technology platforms, real options
