초록 열기/닫기 버튼
The aim of this paper is to find how pharmaceutical industry is fast growth and what venture capital roles to establish new firms in Israel. Through the case study of BioLineRX, a venturing and Pitango, a venture capital firm,this paper shows precious a lot of information. First, Israel government contributes to the creation of a good venturing environment through policy supports. In particular, bridging of venture capital as well as forming of pharmaceutical clusters is positive policies Second, whenever venture firms have difficulties, they could be overcome by means of risk sharing so called, In -and-Out licensing system such as alliance with universities,research institutes, other companies. Third, it is Early Development Program (EDP). With a unique program in BioLineRx, EDP means a system which accumulates in vivo data to facilitate entry into pipeline. This system initiates to identify and advance early stage innovative therapeutic projects. By using EDP, firms overcome burden to show a milestone whenever demanding from venture capital firm. Finally, the role of dominant generic pharmaceutical enterprise is very crucial. Thus, relationship between not only a big investor but also a partner and venturing firm is reciprocally beneficial to pursue competitiveness in global market. In Israel, TEVA, generic pharmaceutical enterprise plays the role of locomotive of pharmaceutical industry.
