Biomaterials Entrepreneurship

Abstract

Entrepreneurial companies in biomaterials serve a valuable function in lowering the risk of developing new products and devices. In many cases liability considerations and a pragmatic conservatism make it difficult for established health-care products suppliers to develop new products directly. Biomaterials entrepreneurs encounter more difficulties in achieving commercial success than do entrepreneurs in other fields. For any reasonable profit to be made, the entrepeneur must be able to convert the biomaterial into a useful device. Safety and toxicity test data collection take a minimum of three years to collect, and it is often five or more years before a positive cash flow can be obtained. Start-up funding can be obtained from government agencies, charitable foundations, and private investment capital. A major health-care company can often be attracted once initial successes have been achieved.

Biomaterials usage and device design is specific for each function or need. Specific devices that are currently needed are small (c. 4 mm) diameter artificial blood vessels, synthetic skin, and internal prosthetic devices which have better tissue compatibility, abrasion, corrosion, and wear resistance especially for flexing devices such as artificial joints, ligaments and tendons.