Bioseet is a digital biosimilars and generics marketplace where assets and demands are listed, and deals are done online.
Keywords: Biosimilars, bioseet, digital marketplace, generics
Bioseet [www.bioseet.com] has launched as a digital marketplace where biosimilars and generics players can initiate deals by listing available assets and actual demands online. Through this, currently more than 100 companies search, evaluate and exchange on product deals in a virtual environment, with anonymity if desired to protect strategic information. It aims to create a more open, global, biosimilars marketplace, where companies can browse available assets and seize opportunities to grow and fill gaps in product portfolios.
In a time of global pandemic, where travelling options and face-to-face meetings are limited, Bioseet gives companies a quick, easy market overview. It also allows companies to directly connect based on their active and actual offerings or demands for generics and biosimilars. Here, data are entered and maintained directly by the companies themselves and expert company teams can exchange information for asset evaluation, both internally and externally (anonymously if required).
‘About 20 years ago the launch of Bio International Convention and BioEurope has been a step change in deal initiation for investors and pharmaceutical companies’ says Roland Meisel CEO from BLAC Biopharma. ‘Operating in a globalized digital age Bioseet is the natural next level for more comprehensive yet more focused and faster deal search and initiation’.
What is different about Bioseet?
Bioseet only lists actual active offerings, which means companies will find fewer listed items compared with AI based platforms but data quality for the items available is much higher. As Bioseet allows for confidentiality within a closed industry community, both published product offerings and those in development, that are not yet published, are listed on the platform. In addition, it lists both company offerings (out-licensing) and demands (target asset in-licensing), creating further opportunities to do business.
In listing only assets and demands, rather than company information, Bioseet also provides a neutral starting point for deals without unconscious bias getting in the way of decision-making. Companies can keep their identity secret until they have reached a point in negotiation where they want to reveal their identity to potential partners. This will allow companies to expand further, across continents and cultures.
The Bioseet platform contains crucial detailed product information, including country specific dossier availabilities and availability dates, health authority submission dates, available marketing authorizations, manufacturing capability data, disease areas, project development information with status information on detailed levels; together with specific information about the aspired deal such as in-/out-licensing, co-development, co-finance, distribution, supply, divestment, and deal geography by region and/or country. This information transparency facilitates offering and deal evaluation.
Bioseet creates a unique team space where it can connect companies with the designated expert of companies that they seek to partner with. Experts can be involved in the early stages of an interaction, through built-in chat rooms for internal and external anonymous chat. Importantly, Bioseet’s team-based approach also allows entire teams within an organization to internally prioritize assets together, this simplifies relationship management across the company, from the top down, and can streamline due diligence processes by engaging cross-functional experts early on. Through this, Bioseet hopes to be a game changer for team culture and efficiency in the organizations it serves.
Why does Bioseet matter?
Bioseet focusses on assets, not companies, to create an even playing field for companies of all sizes in all parts of the world. This includes those with few assets in development and companies with a focused, or niche, commercial country scope. This will help create new relationships between companies across the globe and facilitate access to medicines, especially in developing countries. “Bioseet is a much-needed platform”, says CEO of AzarGen, Mauritz Ventor. ‘It plays a pivotal role to highlight the collective efforts in facilitating accessibility to affordable medicine, especially but not only in developing countries’.
In addition, Bioseet helps companies join forces and create a value chain spanning all aspects of production, from technical development to manufacturing and commercialization. This leverages the strengths of individual players enabling them to become robust global competitors.
Through Bioseet, companies have the opportunity to reach out and find partners that complement capacity gaps. They can also cut timelines short by finding assets that are further progressed in their development. Bioseet enables established and new players interested in expanding their scope to biosimilars or new therapeutic areas, explore their options without disclosing their strategies.