It only takes one groundbreaking startup to change a product category forever.
This year, to prepare for the future and remain relevant in an ever-changing business landscape, life sciences companies will look for new opportunities to create value for patients worldwide.
However, when you factor research, product development, and regulatory compliance requirements, the task of developing a revolutionary product and/or service is easier said than done.
On top of that, COVID-19 has added additional complexity to the product development lifecycle.
Suffice it to say that life sciences companies have their work cut out for them.
5 Innovative Life Sciences Companies to Watch in 2021
Even with these challenges, life science businesses have an incredible opportunity this year to accelerate their efforts.
Keeping an eye on the new players in the industry and the growth paths they've taken can position your own life sciences company for success this year. With that in mind, let's take a look at five innovative life sciences companies to watch in 2021.
IRISYS is a contract development and manufacturing organization (CDMO) that works with biotechs and pharmas to support the development of clinical drugs and drug delivery technologies, with a specific focus on rare diseases and orphan drugs.
Most of the time, IRISYS focuses on helping the companies it works with secure FDA approvals on the drugs they develop together. But IRISYS also has its own small product line, including the SCOT-TUSSIN brand of cough medicines.
IRISYS uses Qualio as their enterprise quality management solution (eQMS). Check out this case study to learn more about why IRISYS chose Qualio and the benefits they've experienced because of the decision.
RELATED READING: 12 Questions to Ask Before You Buy an eQMS
Alphazyme is a biotech manufacturer based in Florida that builds customized enzymes for biotech companies working on reading, writing, and editing DNA molecules. The company is on the cutting edge of human genome and DNA research and is focused on breakthrough discoveries.
Like IRISYS, Alphazyme also uses Qualio as its eQMS. The company's founder, Christopher Benoit, had a bad experience using a paper-based quality management system at his previous company. Seeking to avoid that fate, Alphazyme built its whole operation on top of an eQMS.
Proscia is a technology company that develops software for pathology and cancer research. Recently, Proscia found a new way to use their solutions: in a clinical setting.
Using Proscia's software, pathologists are now able to ditch microscope-based workflows in favor of a digital slide image management system that simplifies the process of storing, retrieving, manipulating, and annotating slides from any connected device.
As Proscia began making this transition, the company knew it needed a robust eQMS that fit in with their budget and could be implemented right away. They found Qualio, and haven't looked back since.
Century Therapeutics is a biotech company that develops "novel allogeneic living drugs for oncology that overcome the limitations of first-generation cell therapies."
In 2019, the company received a $215 million in investment from Bayer, which is supercharging their operations as we look down the line to 2021 and beyond.
In a recent interview, Century CEO Lalo Flores said that the biotech aims to develop iPSC-derived chimeric antigen receptor T and chimeric antigen receptor natural killer (NK) cells.
“One of the original technologies we are developing is our own engineered propriety CARs, with optimized antigen binding domains that will bind to more than one target,” he explained at the time.
Illumina is a biotech company that is focused on genomics. Recently, the company announced the Illumina SARS-CoV-2 Data Toolkit, a new suite of data analysis tools and workflow functionality for researchers working within the virus using next-generation sequencing.
“NGS is on the front lines in the fight against COVID-19 and Illumina is proud to provide technology and support to track transmission, conduct surveillance, develop therapies and vaccines, and ensure long-term global safety and security,” said Dr. Phil Febbo, senior vice president and CMO of Illumina.
Master Life Sciences Quality Management in 2021
What's the secret to achieving life sciences success this year?
We recommend investing in a life sciences quality management system.
At Qualio, we'll be the first to tell you that our eQMS isn't the perfect fit for every single organization. Our solution is, however, designed for smaller startups of up to 500 people that need a scalable, flexible, and easy-to-use eQMS system that makes it easier to achieve FDA compliance.
Our eQMS is purpose-built for growing life sciences organizations, which means you can get up and running with our solution rapidly.
As you begin searching for an eQMS system that meets your needs, download our free guide to find out the questions you need to ask potential vendors as you narrow down your choices. Reference this guide to find an eQMS that is tailored to your company's unique growth stage.